GameStop Closing Hundreds of Stores
GameStop will close 180-200 stores!
According to WGME13, GameStop as over 5,700 stores in 14 different countries! But sales are down significantly for the second year in a row. These stores will close by the end of 2019, and there could be more stores closing in 2020, the news station reports.
GameStop has been having double digit decline and were down over 14% from last year, according to WGME, and they are looking at losses totaling over 400 million dollars! The stock price dropped back in march 40% in one day and has only recovered slightly since, the news station stated.
They will be closing under performing stores, with most of the 4700 stores in the US.
Despite being one of the biggest video game retailers, they've been hit hard by online sales. It seems to be the one kryptonite of brick and mortar places.
No word on the specific stores that will have to close, or how many employees will be affected, but Maine has six locations!
- South Portland