GameStop will shutter between 180 to 200 under-performing stores by the end of the year, executives said after the company reported a larger-than-expected decrease in sales.
The video game retailer made the announcement Tuesday in a conference call with analysts. Earlier that day, the company released its earnings report for the second quarter of the year that"admittedly were below what we would want," according to the company’s chief financial officer, Jim Bell.The closures of the stores will happen globally, but Bell did not say what exact locations. GameStop has more than 5,800 stores across 14 countries, according to the company.
"Optimizing our store base for an increasingly digital world is essential for the future and increasing the profit productivity," Sherman said.
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