GameStop to shut some 320 stores in 2020
Closures are part of retailer’s ongoing “de-densification plan”
US retailer GameStop intends to close some 320 stores this fiscal year as part of ongoing restructuring efforts.
The company shut 321 outlets in its last fiscal year ended February 1, 2020, and expects to close a similar amount during the current business year.
“In fiscal 2020, we will continue in our efforts to de-densify our store base, focused on maximising product productivity of the entire fleet,” GameStop executive vice president and chief financial officer Jim Bell said on an earnings call this week (via Gamasutra).
“[We] anticipate store closures to be equal to or more than 320 net closures we saw in fiscal 2019 on a global basis.
“Importantly,” Bell continued, “we want to emphasize that these store closures are a very specific and proactive part of our de-densification plan and they are not related to recent business trends.”
GameStop currently operates over 5,500 stores across 14 countries.
It closed all its stores to customers last weekend, following criticism of its response to the coronavirus pandemic.
Former Nintendo of America president Reggie Fils-Aimé is to join GameStop’s board of directors effective April 20, 2020.
