GameStop to Close 250 Stores in 2013, Open 60 to 70 New Stores
Closures will most affect shops with an alternate GameStop in the area.
GameStop has announced that it will be closing 250 of its retail stores in 2013. But according to CFO Rob Loyd at the Goldman Sachs Technology and Internet Conference, this will affect mostly unprofitable stores, especially ones that already have an alternate GameStop in the vicinity.
Out of these 250 stores, 50 of those being closed will be outside the US. The closures will also follow the opening about 60 and 70 new stores, along with the acquisition of 40 stores from popular European retailer GAME in France.
Loyd’s message for this year was short but sweet: “We’ve been successful at that for two years and we will continue to do that program in 2013.”
However, he didn’t comment on whether the store closures would lead to redundancies. We assume it would – how do you offset closing so many stores with about a third or fourth of that total amount? Let’s see how the new outlets fare for GameStop this year.