GameStop Announces Closure of 180 to 200 Underperforming Stores

Tsing

The FPS Review
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During the struggling retailer's Q2 2019 Earnings Conference Call, GameStop CFO Jim Bell revealed he was planning to shutter as many as 200 underperforming stores globally. And that's just the beginning: Bell also teased there would be "a much larger tranche of closures" over the next year or two, assuming the company even survives that long.

GameStop's complete Q2 2019 fiscal results are available here. The company lost $32 million this quarter after global sales decreased by 14.3 percent.

We are on track to close between 180 and 200 underperforming stores globally by the end of this fiscal year. And while these closers were more opportunistic, we are applying a more definitive analytic approach, including profit levels and sales transferability that we expect will yield a much larger tranche of closures over the coming 12 months to 24 months.
 
Feels like they are going with the decline of radioshack.

They need to shut down and open kiosk locations like in Fry's or Microcenter and the like. License the Gamestop IP to a point. Something other than throwing good money after bad.

The last time I bought something from Gamestop was when Cata came out for WOW and I bought the collectors edition at a midnight event. That was a while ago... lol
 
Grimlakin said:
The last time I bought something from Gamestop was when Cata came out for WOW and I bought the collectors edition at a midnight event. That was a while ago... lol
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That was the last time I bought something from Game Stop as well.
 
My last visit was around the rings of death era for the 360. A few months back there was an article about them hiring a company to essentially provide a make over for their locations. Seems like poorly spent money to me. I feel for the employees.
 
Haven't been in one for years. Not surprised about this due to their business practices.
 
This does not include the 2400 or so stores they will be closing in the 12 to 24 months after that. They are going out of business, simple as that. They lost 415 Million last quarter.
 
Riccochet said:
A once staple business for gamers is now a relic due to not changing their business model with the market.

Sad, but not sad.
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Too true. I feel at some point someone could gather enough material to make a decent documentary on once thriving companies that failed to evolve with the internet and online sales. Borders was essentially destroyed by Amazon. I remember thinking how ironic when I'd go into one to check about ordering a book and the first thing they did was search Amazon. Circuit City and Radio Shack were too late to the game. I'll always miss Radio Shack though.

Now we see the slow zombie like demise of GameStop. Like others this could've been averted. Partnership with steam or similar entrepreneurship. High speed internet is still an issue for much of the planet. If they had provided a fast connection in store then they could've offered services for pre-installed games or day 1 patches(you know those pesky 80GB+ ones) for consoles. Bring it in, plug it in and let the hardware be the bottleneck not the connection. Worked on partnerships with dev's for better prices and distribution. They had money, connections, and options.
 
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