Close Menu
NERDBOT
    Facebook X (Twitter) Instagram YouTube
    Subscribe
    NERDBOT
    • News
      • Reviews
    • Movies & TV
    • Comics
    • Gaming
    • Collectibles
    • Science & Tech
    • Culture
    • Nerd Voices
    • About Us
      • Join the Team at Nerdbot
    NERDBOT
    Home»Gaming»Gamestop Closing 180-200 Stores for Under-performing
    Gaming

    Gamestop Closing 180-200 Stores for Under-performing

    Kaylah VargasBy Kaylah VargasSeptember 12, 20193 Mins Read
    Share
    Facebook Twitter Pinterest Reddit WhatsApp Email

    It’s game over for Gamestop. At least, that’s how it appears.

    During the recent GameStop Q2 earnings call, the company announced it would be closing between 180 and 200 “under-performing” stores globally between now and the end of the year.

    GameStop CFO James Bell praised that of the 5700 stores worldwide, 95% of them were profitable. However, that isn’t going to stop them from steamrolling through the stores that are lacking. This includes future closures in the next two years as well.

    “While that is an impressive statistic, we have a clear opportunity to improve our overall profitability by de-densifying our chain. That work is well underway. We are on track to close between 180 and 200 underperforming stores globally by the end of this fiscal year. And while these closures were more opportunistic, we are applying a more definitive, analytic approach, including profit levels and sales transferability, that we expect will yield a much larger tranche of closures over the coming 12 to 24 months.”

    James Bell

    This is all part of GameStop’s “Reboot” plan, which was a major focus of its Q2 earnings report (in which it posted a net loss of $415 million and an adjusted net loss of $32 million). The company struggles to regain its momentum after a challenging year of financial losses. As a part of the same plan, 50 employees lost their jobs in early August with another 120 laid off that same month. Including seven members of the Game Informer staff. The company also recently moved ThinkGeek in with GameStop proper and announced several new plans for stores.

    Bell blames this on the timing of the end of the current console generation.

    “We expect our year-over-year sales to be down over the next three to four quarters reflecting the end of [the console] cycle. Compounding this negative impact on sales is the fact that console makers have confirmed the launch earlier than they have in the past. We anticipate that this will lead to much lighter title slate through the rest of 2019 and early 2020 given the end of the cycle timing for current consoles.

    Bell

    “As a result, at this time we expect a percentage decline of comparable same-store sales for 2019 to be in the low teens, which includes a difficult comparable sales challenge from last year, as we’re up against blockbuster titles like Red Dead Redemption 2, 2018’s number one volume title, without a comparable launch in 2019.”

    Bell

    What do you think about this news? Let us know in the comments!

    Do You Want to Know More?

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email
    Previous ArticleSend Your Love a ‘Nightmare Before Christmas’ Bouquet in a Tiny Coffin!
    Next Article Astronomers Find Water on Habitable Zone Planet
    Kaylah Vargas

    I've been critically reviewing fandoms and geek culture for eight years. After spending four years of college focusing on literary analysis, I now apply that passion to my hobbies and love for the geekdom.

    Related Posts

    Best Site to Play Cash Poker Games: GGPoker or Bodog? (2025 Comparison)

    July 10, 2025

    Will Physical Games Soon Be Dead?

    July 10, 2025

    7 Mind-Blowing Secrets About Online Sweepstakes That Will Change How You Play

    July 10, 2025

    ভাগ্যের চেয়ে বেশি: খাঁটি ভাগ্যের খেলায় সৌন্দর্যের গুরুত্ব কেন?

    July 10, 2025

    Privacy and Anonymity: Why Stablecoin Casinos Appeal to Modern Gamblers

    July 10, 2025

    Why More Players Are Exploring Platforms Based in the UK

    July 10, 2025
    • Latest
    • News
    • Movies
    • TV
    • Reviews

    Understanding Human Behavior: How AI Analyzes and Predicts Decision-Making

    July 10, 2025

    Benefits of Leveraging Pharmacokinetics Services

    July 10, 2025

    Best 3-Point and PTO Stump Grinders for Tractors (2025 Buyer’s Guide)

    July 10, 2025

    Best Site to Play Cash Poker Games: GGPoker or Bodog? (2025 Comparison)

    July 10, 2025

    Gamification of Entertainment: How are new Technologies changing Indoor Game Activities?

    July 10, 2025

    Black Sabbath, Ozzy Osbourne Farewell Concert Raises $190 Million

    July 9, 2025

    Body Found in Pasadena, CA Goodwill Donation Bin

    July 8, 2025

    Convicted Felon Billy McFarland Lists Fyre Fest for Sale on eBay

    July 8, 2025

    First Trailer for Millennium’s “Red Sonja” Hits

    July 10, 2025

    Cameras Are Rolling on “Dune Part 3”

    July 8, 2025

    James Gunn’s “Superman” Brings Updated Meaning to the Man of Steel [Spoiler-Free Review]

    July 8, 2025

    Jon M. Chu to Direct Live-Action “Hot Wheels” Movie

    July 7, 2025

    “Outlander” Prequel Series “Blood of My Blood” Gets Trailer

    July 10, 2025

    Netflix “Monster” Season 4 May Focus on Lizzie Borden

    July 8, 2025

    CD Projekt Red Confirm “Cyberpunk: Edgerunners 2” with Teaser

    July 5, 2025

    “South Park” Creators Call Paramount-Skydance Merger ‘S***show’

    July 4, 2025

    James Gunn’s “Superman” Brings Updated Meaning to the Man of Steel [Spoiler-Free Review]

    July 8, 2025

    The F11PRO 2 Drone – Pro-Level Performance Meets Sleek Design

    July 3, 2025
    "M3GAN," 2025

    “M3GAN 2.0” A Sequel That Forgets to Have Fun [Review]

    June 29, 2025

    “F1: The Movie” Thrilling Cars, Crash and Burn Story [Review]

    June 28, 2025
    Check Out Our Latest
      • Product Reviews
      • Reviews
      • SDCC 2021
      • SDCC 2022
    Related Posts

    None found

    NERDBOT
    Facebook X (Twitter) Instagram YouTube
    Nerdbot is owned and operated by Nerds! If you have an idea for a story or a cool project send us a holler on [email protected]

    Type above and press Enter to search. Press Esc to cancel.