It recently announced that it will close 150 to 225 of its 7,500 stores following a major drop in sales.
The announcement was buried in a short paragraph in the company’s news release, entitled: ” GameStop Reports Sales and Earnings for Fiscal 2016 and Provides 2017Outlook“:
In 2017, the Company anticipates that it will open approximately 35 new Collectibles stores globally, and approximately 65 new Technology Brand stores. The Company also anticipates that it will close between 2% to 3% of its global store footprint.
The company reported a nearly 30 percent drop in hardware sales and close to 20 percent drop in software sales in the previous quarter, according to its most recent earnings statement. Overall, sales fell nearly 14 percent.