GameStop Closing More Stores

GameStop has struggled with the evolution of gaming from physical games to digital downloads. In March the company announced they will be shutting down 300 stores but on a recent investor call, they explained that they will be now closing 450 stores in 2020 and even more in 2021. Gamestop currently has over 5,500 stores in 14 countries. GameStop previously announced they will be changing their store design to become more of an experience for video game fans. They have also brought on some big names like Nintendo’s Reggie Fils-Aime to get the company back on track.
The spike in gaming following stay at home orders has helped GameStop a bit. Comicbook.com reported a loss of $470 million this year, that’s down from $673 million the year before.

Sources: IGN, CBR

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