GameStop will be closing between 180 and 200 stores around the world
Sadly, this really isn’t a surprise.
We’ve been watching GameStop for a while now. The brick-and-mortar gaming store has had its ups and downs (more downs recently) and now it seems those downs are leading to the company closing between 180-200 stores worldwide.
This comes after the company announced plans to completely revamp their physical locations.
GameStop will close up to 200 stores before the end of the year
When the company brought in a new CEO in the form of George Sherman, a revamp was planned to improve “the cultural experience.” This was going to put more of a focus on memberships (???) and improving trade-in values for players. In an of digital, however, this seemed like a desperate grab to convince people to buy digital.
According to Engadget, “The company’s balance sheet has not looked healthy in recent times — its second-quarter global sales decreased 14.3 percent, marking an adjusted net loss of $32 million.”
Yeah, not good. The stores that will be closed are all “underperforming” according to GameStop CFO James Bell. In an earnings call, Bell goes on to say that more store closures will probably happen in the future.
There’s no official word on how many people will be out of jobs once this round of closures is complete.
What do you think? Surprised by the news regarding GameStop? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.
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