GameStop closing 180 to 200 stores this year

For the past several years, GameStop has been a staple for many gamers, but recently the company hasn't been doing so well. Like many other retailers, it's constitute information technology hard to stay afloat with the increase of online shopping. Today, GameStop appear that due to a struggling Q2, the company would be closing 180 to 200 "nether-performing" stores by the end of 2022. The company went on to say that it plans on closing additional stores within the side by side couple of years.

This doesn't come as much of shock because that the company had a loss of $415.3 million in Q2, which just adds to the 2022 net loss of $675 million. The visitor recently laid off 50 "regional, district... leaders" in early August as well every bit vii Game Informer staff. George Sherman, GameStop'south CEO, says he has a iv-part game plan for getting the retailer dorsum on its feet. This plan includes optimizing core business, becoming the social and cultural hub for gaming, edifice a digital platform, and improving vendor relationships.

We will set GameStop on the correct strategic path and fully leverage our unique position and brand in the video game manufacture... We as well remain committed to returning capital to shareholders and balancing that opportunity against the need to maintain a stiff rest sheet to properly run our business organisation and invest in responsible growth.

At the time of this article, GameStop has five,700 locations worldwide. The loss of the first 180 to 200 stores might not impact your area, only the additional closures within the next two years just might.

It'due south hard to sentinel the video game retailer struggle so openly. If GameStop closes it will make it a lot harder for people to window shop for collectibles that they can purchase cheaper on Amazon. Simply seriously, the fall of a video game store is something to be worried nearly. It makes it harder for gamers to notice brick and mortar locations to purchase games on release 24-hour interval or just to find nerdy trade that isn't sold anywhere else.

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