GameStop Set To Close 300 More Stores This Year

GameStop is set to permanently close 300 more stores in the coming year. The news arrived in an earnings call conducted by the company, which shed light on GameStop's financial situation. It was revealed that the company "plans to meet or exceed" the number of closures that occurred in the previous fiscal year, which saw 321 shops close their doors. The retailer currently has 5,500 operational stores across the US. [ignvideo url="https://www.ign.com/videos/2020/03/07/how-gamestop-plans-to-save-itself"] In the earnings call, the company touched on the huge financial uncertainty caused by the ongoing pandemic, but noted that the COVID-19 crisis has led to a 2% increase in sales in recent months. GameStop turned a profit in the fourth quarter and saw a decrease in its net loss for the full fiscal year, from $673 million to $470.9 million this year. [ignvideo url="https://www.ign.com/videos/2019/09/16/leaked-gamestop-store-redesign"] The earnings call also mentioned GameInformer, GameStop's media outlet that suffered layoffs in 2019. GameStop plans to build value in the brand through "interactive digital media," but the retailer didn't go into any further detail about their plans. In other GameSpot news, the company decided to close its stores in accordance with CDC guidelines after coming under fire for deeming its outlets as "essential" business and keeping the doors open during the COVID-19 pandemic. [poilib element="accentDivider"] Jordan Oloman is a freelance writer for IGN. Follow him on Twitter.

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