In another round of news that bodes troubled waters for the retailer, GameStop announced that it will close over 300 stores over the upcoming fiscal year in an effort to “de-densify” their store locations and maximize profits, as revealed via an earnings call.
GameStop closed over 300 locations last year, which brought the number of stores to ~5,500. It’s currently unclear what stores will be shut down and when, though we can presume it to happen gradually throughout the fiscal year.
Despite the mass of temporary store closures this month due to the COVID-19 outbreak, there was actually an uptick in sales this March compared to last year, likely due to the release of both Animal Crossing: New Horizons and DOOM Eternal. We’ll provide more updates on GameStop’s financial figures as they become pertinent.
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