It sounds likegame retailers like GameStop are suffering the same fate as video rental stores because sales have dropped due to online competition, plus gamers are holding back on purchases until next-gen consoles arrive in November. During a recent earning calls, GameStop Chief Financial Officer Rob Lloyd announced that they have closed 52 stores in the last three months, and have opened a total of 13 new stores in the U.S. and internationally.
We ended the quarter with 6,505 stores. We opened 7 and closed 46 in the U.S., and opened 6 and closed 6 internationally.
Initially, GameStop’s plan was to close a total of 250 stores worldwide back in February, and are still expecting to shut down another 2% by the end of this year.
We still expect to reduce our store base by about 2% this year.
It’s unfortunate, but that time is slowly creeping up on retailers, just like it did video rental stores. If this matter is somewhat of a concern for you, then you might want to head down to your local store and support it before it’s far too late.