GameStop will close at least 150 stores after holiday sales decline
The company faces increased competition from Amazon, Best Buy and Walmart while more players buy games digitally -- whether on traditional gaming consoles or smartphones and tablets
The company faces increased competition from Amazon, Best Buy and Walmart while more players buy games digitally -- whether on traditional gaming consoles or smartphones and tablets
The company faces increased competition from Amazon, Best Buy and Walmart while more players buy games digitally -- whether on traditional gaming consoles or smartphones and tablets
GameStop will close approximately 150 stores after sales declines in almost all of its segments, the retailer announced Thursday.
The retailer faces increased competition from retailers such as Amazon, Best Buy and Walmart while more players purchase games digitally -- whether on traditional gaming consoles or on their smartphones or tablets.
, GameStop's struggles were illustrated by a 13.6% drop in global sales from a year ago. The retailer blamed weak sales of certain blockbuster video games released during the critical holiday season and "aggressive console promotions" by other retailers.
A spokesperson from GameStop that the closure of the stores was part of an "annual strategy" to close up to non-productive stores that was announced more than three years ago.
"This is something that will take place throughout 2017," the statement said.