What you need to know
- GameStop will close 180 to 200 stores by the end of 2019.
- The chain recently laid off 50 field leaders in August.
- The video game retailer currently has 5,700 stores worldwide.
- GameStop says it plans to close even more stores within the next two years.
For the past several years, GameStop has been a staple for many gamers, but recently the company hasn't been doing so well. Like many other retailers, it's found it difficult to stay afloat with the increase of online shopping. Today, GameStop announced (opens in new tab) that due to a struggling Q2, the company would be closing 180 to 200 "under-performing" stores by the end of 2019. The company went on to say that it plans on closing additional stores within the next couple of years.
This doesn't come as much of shock considering that the company had a loss of $415.3 million in Q2, which just adds to the 2018 net loss of $675 million. The company recently laid off 50 "regional, district... leaders" in early August as well as seven Game Informer staff. George Sherman, GameStop's CEO, says he has a four-part game plan for getting the retailer back on its feet. This plan includes optimizing core business, becoming the social and cultural hub for gaming, building a digital platform, and improving vendor relationships.
At the time of this article, GameStop has 5,700 locations worldwide. The loss of the first 180 to 200 stores might not impact your area, but the additional closures within the next two years just might.
It's hard to watch the video game retailer struggle so openly. If GameStop closes it will make it a lot harder for people to window shop for collectibles that they can purchase cheaper on Amazon. But seriously, the fall of a video game store is something to be worried about. It makes it harder for gamers to find brick and mortar locations to purchase games on release day or simply to find nerdy merchandise that isn't sold anywhere else.
Get the game or gear you want
GameStop sells video games for several different consoles including the Xbox One, PS4, and Nintendo Switch. It's also the perfect place to pick up your favorite gamer memorabilia or nerdy collectibles.
Xbox accessories you'll love
Every one of these quality accessories is guaranteed to enhance your Xbox experience.
PowerA Enhanced Wired Controller for Xbox One (opens in new tab) ($20 at Amazon)
PowerA's take on the Xbox One controller is an attractive pickup for budget-conscious gamers that nails all the basics.
Talon PDP Xbox media remote (opens in new tab) ($20 at Amazon)
The Talon PDP Xbox media remote is great for watching shows on your console.
Xbox One S vertical stand (opens in new tab) ($10 at Amazon)
Stand your console upright with this accessory.
It means I may need to drive hours to get event Pokemon codes, if that's still a thing for SS (most likely not).
Frankly speaking, if the price is higher at GameStop and there's no interesting exclusive bonus, why to buy game there.
Dedicated gaming stores simply can't survive in the modern retail environment, they are holding out as much as they can but they won't last.
And so it begins... They're going the way video rental stores went to their demise. Digital content purchasing has major impact on the world.
There are 4 stores within 15 mins from my home. I don't know how they've sustained that.
I hear you. I have at least 4 stores within 15 minutes from me. 2 of those stores are within a few miles of each other. Some people wouldn't even consider New Orleans a major metropolitan area.
I've never really liked them prices are way to high IMO and I can get better used prices on Craigslist.
Eh... I'll buy 3 stores from them.... I'll give em about $15 in trade in credit for them.
Lol it made me laugh
People make jokes about this but a lot of folks are going to lose their jobs. I feel sorry for them and their families.
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