Late last week GameStop sent out a statement revealing that the company would be closing more than 150 of its stores globally. Specific closures have yet to be announced, but the number makes up 2-3% of its overall business.

Supposedly the closures are happening due to poor holiday sales. The Q4 window is often the high point of video game sales, yet despite the launch of new hardware in the PlayStation 4 Pro and a few major releases, it wasn’t enough in the company’s eyes.

Despite this, GameStop still plans on opening 100 stores in 2017 which will likely focus more on non-gaming business, such as the Spring Mobile brand and vinyl collectibles.

Here is GameStop CEO’s Paul Raines’ statement:

“The video game category was weak, particularly in the back half of 2016, as the console cycle ages. Looking at 2017, Technology Brands and Collectibles are expected to generate another year of strong growth, and new hardware innovation in the video game category looks promising.”

We’ll be sure to bring you more coverage as it comes in, and our best wishes to go out to those affected.

Source: Syracuse

Rating: 3
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Written by Tom Brown

Always excited to see something a little bit different, Tom is ready to report on games of all shapes and sizes, whether they be wonderful or weird (or, better yet, both.) Rest assured, if Nintendo ever announces Elite Beat Agents 2, he’ll be there.

Tom Brown

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  1. Mike says:

    I hope my GameStop stores don’t close. It’s been my favorite store for about 10 years! ;-;

    Reply →
  2. Nick says:

    I am ecstatic to hear this! nothing will make me happier once they are gone. This will allow local places to thrive, and you will get more bang for your buck on your trade ins.

    I recently had to buy a ps3 controller because my crapped out and I wanted to play some old Metal Gear Games from the Legacy collection. So I headed to my local GS because their website said both locations in town had them in stock. Come to find out that was a lie, and I was actually being lied to by the person behind the counter while his manager was there. Not only was the guy cleaning controllers he lied about the other location having one because when I left upset I called the other location and they had them in stock.

    I returned a few days latter wanting to speak with that manger (who was the guy with the guy that was lying to my face) and gave him a piece of my mind. I also noticed they had 3-4 ps3 controllers hanging on the wall.

    Few weeks pass, I am looking at games and decided to check out some prices. Brand new game at GS is cheaper than used copy. (gotta love price drops for new games but I feel really sorry for the people who buy it used not being aware of price drops.) With no mention or anything.

    I since started doing some investing planing for my retirement and in the group of stocks i was giving I see GS. I was so furious I had to call the company to put me in something else because I know they wouldn’t last. It’s part of the reason I NEVER go there. Lets trade in a game and get 7 dollars(brand new) and sell it for $49. Give me a break.

    I will say them going bankrupt is not FULLY their fault (I’d say about 95% their fault) The 5% is of course Amazon. Which I shouldn’t have to explain to anyone on why. But you if do some looking around for console games you will see walmart/bestbuy and heck even amazon have trade in programs and the possibility to buy used games cheaper than GS. Somethings I just wont pay for convenience, especially since they rip off the people that keep them alive.

    So everyone should do themselves and your community a favor and start looking for local places that sell new and used games, you will not be disappointed and your wallet will thank you. (on the used aspect on top of your dollar going farther)

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  3. Matt says:

    Nick… Planning your retirement? from what, kindergarten? You sound like an angry fat kid who got a Milky Way instead of Snickers at a house on Halloween. Boycott Ediths house! she don’t give Milky Ways, that dumb bitch!

    Reply →
  4. Kentell Reese says:

    Are you closing any GameStop in Richmond area

    Rating: 3
    Reply →
  5. Sophie says:

    Sounds like another Hot Topic incoming!

    Rating: 2
    Reply →
  6. jeff says:

    Total BS gamestop lost sales because of their poor business practice and their horrible treatment of their core customers. They have been aware of customer dissatisfaction for years. Another examples of CO’s trying to milk a company for as much as can.

    They could be great, if they would change but lets me honest they wont.

    Reply →