GameStop Will Close 250 Stores, Open 70 New Stores in 2013
The retail gaming giant, GameStop, will be closing 250 of its retail locations this year...
GameStop, every gamers favorite mall store for buying video games, has announced their business plan for 2013. CFO Rob Lloyd has revealed plans to close 250 GameStop retail locations worldwide, with 200 of those being in the United States. The retail chain will also open 60 to 70 new stores in the same period.
Lloyds plan is to close unprofitable and borderline profitable stores in order to move customers to other nearby stores. This is understandable, being that there are currently so many GameStop locations in the US. GameStop is also aiming to buy 40 former game stores in France.
This isn't a major surprise, to me at least. In my hometown of Queensbury, New York, there are two GameStops within a mile of each other, and Queensbury, by no means, has the population to warrant two GameStops. I imagine there are similar situations like this nationwide. It's also probable that GameStop is being affected by competition in the pre-order bonus market, now that other major retailers, such as Wal-Mart and Target, are offering more and more pre-order bonuses for video games.