GameStop to close up to 450 stores worldwide
GameStop #GameStop
Video game retailer GameStop now says it will close up to 450 stores worldwide by the end of the fiscal year, an increase from its original plan of shuttering about 320 locations, according to a recent earnings call.
CONSTELLATION BRANDS, INC.
There are currently over 70 GameStop locations in New Jersey, but it’s unknown if any will be impacted. A GameStop spokesperson didn’t immediately respond to a request for comment.
GameStop says the closures will allow the company to optimize its global store portfolio, while also growing its online business.
Earlier this year, GameStop closed its Hamilton Mall store at 4403 East Black Horse Pike in Mays Landing.
GameStop’s hardware and accessories sales declined by 20% during the second quarter. Software sales were down 31% for the quarter, as well, despite booming sales from the popular games Animal Crossing: New Horizons and The Last of Us 2.
It has been a rough year for the brick-and-mortar retail industry, which already had been struggling even before the coronavirus pandemic.
Walmart, Brooks Brothers, JCPenney, New York & Company, Nordstrom and Sur La Table are among the many retail companies that have recently announced store closures.
However, as the brick-and-mortal retail industry suffers, there have been huge spikes in online shopping over the past several months, and companies have pulled out all the stops to take advantage of the surge.
GameStop is no different; you can find daily deals online, along with the Playstation 4, which is now back in stock.
The company was founded in 1984 in Dallas, Texas.
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