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 to Permenantly Shut Down 300 Stores
    Gaming

    GameStop to Permenantly Shut Down 300 Stores

    Kaylah VargasBy Kaylah VargasMarch 26, 20203 Mins Read
    Share
    Facebook Twitter Pinterest Reddit WhatsApp Email

    GameStop is once again hitting the news. The store has long been thought to be going the way of Blockbuster yet we have seen every attempt to keep on floating. Even trying to place themselves as an “Essential Business” during a global crisis.

    GameStop has recently announced that it will be closing over 300 stores this year as part of its ongoing effort to “de-densify.” Although to the rest of us it just looks like they are tanking. The news comes way of GameStop‘s newest earnings call. According to GameStop, it closed 321 stores last fiscal year, bringing its store count to 5,500 locations. That said, according to the company’s CEO, George Sherman, there are plans to meet or possibly exceed this number during this fiscal year, which means there will soon be many GameStop employees out of a job.

    As of right now, we are uncertain which stores will be closing exactly or when.

    The retailer revealed that despite coronavirus disrupting commerce across the world and forcing all GameStop stores in the United States to close despite their desperate attempts to stay open, there was actually a 2% increase in store sales in March when compared to March 2019. This is likely due to the fact that both DOOM Eternal and Animal Crossing: New Horizons dropped this month.

    Overall GameStop ended the fiscal year on a somewhat decent note, however the year as a whole was a rough one for the retailer. For the final fiscal quarter, GameStop posted a net income of $21 million. However, for the full fiscal year, revenue was down 22% to $6.47 billion, which translated to a net loss of $470.9 million. Leading to this was a considerable decline in both software and hardware sales. Softening the blow was a rise of 4% in collectibles.

    “As we begin fiscal 2020, we remain focused on our key priorities, yet recognize that we continue to face the temporary headwind of lower current generation console hardware and software sales as consumers delay purchases in anticipation of new platform launches expected later in the year,” said the aforementioned Sherman.

    In light of the Coronavirus, it is hard to make predictions and therefore offer financial guidence to their investors. GameStop expects a challenging first three quarters, but hopes this will be made up for in the final quarter, courtesy of the PS5 and Xbox Series X.

    Will this be enough to save GameStop?
    What are your thoughts? Be sure to leave us a comment.

    Do You Want to Know More?

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email
    Previous ArticleHarlem Globetrotter “Curly” Neal Dead at Age 77
    Next Article Kitten Cams to Make Your Heart Melt
    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

    “Perfect Dark” Reboot Cancelled After More Microsoft Layoffs

    July 2, 2025

    President Trump Will “Look” at Deporting Elon Musk

    July 2, 2025

    The Best Devices for Gaming in 2025

    July 2, 2025

    Revitalize Your Mind and Body: How New Image Wellness Transforms Mental Well-being

    July 2, 2025

    Discover the Advantages of Major Playground Toto Sites

    July 1, 2025

    Why LEGO Fortnite Expeditions is the New PvE Adventure Mode You Can’t Miss

    July 1, 2025
    • Latest
    • News
    • Movies
    • TV
    • Reviews

    “Trainwreck: Storm Area 51” Gets Teaser for Netflix Docu

    July 2, 2025

    Marisa Abela Joins Chad Stahelski’s “Highlander”

    July 2, 2025

    “Perfect Dark” Reboot Cancelled After More Microsoft Layoffs

    July 2, 2025

    How Smart Brands Use Podcast Marketing Services to Drive Revenue

    July 2, 2025

    President Trump Will “Look” at Deporting Elon Musk

    July 2, 2025

    Revitalize Your Mind and Body: How New Image Wellness Transforms Mental Well-being

    July 2, 2025

    Netflix to Stream NASA Launches, Missions, and More

    June 30, 2025

    Is the BYDFi App Worth Downloading? A Practical User Review

    June 30, 2025

    Marisa Abela Joins Chad Stahelski’s “Highlander”

    July 2, 2025

    Marvel Studios Reveals BTS Look at “The Fantastic Four”

    July 2, 2025

    David Dastmalchian to Play M. Bison in “Street Fighter”

    July 1, 2025

    Edgar Wright’s “The Running Man” Gets First Trailer

    July 1, 2025

    “Trainwreck: Storm Area 51” Gets Teaser for Netflix Docu

    July 2, 2025

    Neil Druckmann Leaves HBO’s “Last of Us” Ahead of Season 3

    July 2, 2025

    First Look at Chatsubo Bar from Apple TV+’s “Neuromancer” Series

    July 1, 2025
    “The Tiny Chef Show”

    “Tiny Chef Show” Raises $80k After Nickelodeon Cancelation

    June 28, 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

    “28 Years Later” We Live, We Die, Life Goes On [Review]

    June 21, 2025

    Official My Little Pony Coffee UNICORN POWERS Will Have You Feeling Magical!

    June 16, 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.