GameStop To Permanently Close Over 300 Stores This Year
It is no secret that GameStop hasn’t exactly been doing great over the past few years, especially after their response to coronavirus outbreak. When they brought in former Nintendo of America President Reggie Fils-Aime to help out, many believed things would get better. However, while the ship could still turn around, the near future doesn’t look particularly good.
During a recent earnings call, GameStop revealed that they had actually turned a profit in Q4 2019, despite sales being down by 28%. It is also worth noting that they have seen a 2% increase in sales during the coronavirus outbreak, even after their poor response to the situation.
That said, 2019 saw the closing of 321 stores, and 2020 will be no different. GameStop revealed during a post-earnings call that they plan to meet or exceed the same number of permanent closings this year, which is undoubtedly a huge blow to those currently employed by the video game retailer. With everything going down the way it has over recent weeks, and how the company has been doing over the past few years, it will be interesting to see how things turn out.
Keep it tuned to Don’t Feed the Gamers as this story develops, and for other gaming news going on right now, check out the following:
- Borderlands, BioShock, And Other 2K Games Coming To Nintendo Switch
- Animal Crossing New Horizons Wedding Created By Couple After Coronavirus Cancels IRL Event
- Final Fantasy VII Remake: World Preview Book, Poster Collection Pre-Orders Now Available
What say you, gamers? Are you surprised that GameStop will be closing over 300 stores in 2020, or do you believe the business as a whole is on the way out? Sound off in the comments section below, and be sure to follow DFTG on Twitter for live gaming and entertainment news 24/7!
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Eric Garrett2032 Posts
Eric is an editor and writer for Don't Feed the Gamers. When he is not staring at a computer screen filled with text, he is usually staring at a computer screen filled with controllable animations. Today's youth call this gaming. He also likes to shoot things. With a camera, of course.