Could QC GameStop Locations Close?
Bad news for video game lovers.
WREX reports that GameStop plans to close between 180-200 stores at the end of its fiscal year.
The company's second-quarter earnings fell dramatically, leading to the announcement. GameStop blamed the increase in popularity of digital and mobile gaming.
“Optimizing our store base for an increasingly digital world is essential for the future and increasing the profit productivity,” CEO George Sherman said on an earnings call with analysts Tuesday. But he also said the company has the “opportunity to do even better and expand profitability” by reducing the number of stores in some markets.
One of the company's plans to combat the competition is to create a buy online, pick up in-store option, as well as expand its online platform.
Currently, GameStop operates 5,700 stores across 14 countries, including several in the Quad Cities. 195 stores have already closed in the last year. The company has not yet announced which locations will close next.