Wednesday, September 11, 2019

GameStop To Cut 200 More Stores

Grapevine, Texas-based videogame retailer continues to fight the retail tide, saying this week that it plans to cut up to 200 underperforming stores between now and the end of the year. According to GameStop, the cuts are only the first in what the company said will "yield a much larger tranche of closures over the coming 12 to 24 months." GameStop is facing both the current cycle in the gaming console market, as well as overall retail trends. News on the expected store closures came on GameStop's earnings call, and were announced by CFO James Bell. GameStop has been redesigning and revamping its stores, in a effort with design firm R/GA, in an attempt to revive its business. GameStop did not say how many people will lose their jobs as a result of the store shutdowns, or what markets might be impacted.