GameStop to close 180-200 "underperforming" stores globally this year

Discussion in 'Gaming News Discussion' started by Calliers, Sep 11, 2019.

  1. Calliers

    Calliers Just got off the hedonic treadmill... Staff Member

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    During today's GameStop Q2 earnings call, the company announced it would be closing between 180 and 200 "under-performing" stores globally between now and the end of the year.

    During the call, GameStop CFO James Bell praised the company's over 5700 stores worldwide, stating that 95% of them were profitable. Nonetheless, the company is beginning to roll out an ongoing plan that will also result in even more store closures into the next two years.

    "While that is an impressive statistic, we have a clear opportunity to improve our overall profitability by de-densifying our chain," he said. "That work is well underway. We are on track to close between 180 and 200 underperforming stores globally by the end of this fiscal year. And while these closures were more opportunistic, we are applying a more definitive, analytic approach, including profit levels and sales transferability, that we expect will yield a much larger tranche of closures over the coming 12 to 24 months."
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    Source: gamesindustry.biz
     

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