Major retailer ‘closes 400 branches’ after profits plummet | World | News
An international video game retailer is set to close more branches after shuttering hundreds of stores last year. GameStop revealed plans to shut down a “significant number” of branches in its US portfolio in December, with a deadline of the current financial year, which ends on January 31. The company, which also operates in Europe, Canada, Australia and New Zealand, closed 590 stores in the 2024 fiscal year as part of an “optimisation review”.
In a December Securities and Exchange Commission filing, GameStop stated that a “significant number of additional stores” would also close before the end of January. While the firm has not confirmed the number or location of the stores set for the axe, posts on social media have shown shuttered branches across the US, including in Ohio, New York and Minnesota.
The chain reported operating 2,325 stores in the US in early 2025, alongside around 3,200 globally.
The manager of a GameStop branch in Maine, which closed its doors on January 5, attributed the news to “circumstances outside of our control”, the Independent reports.
The company’s brick-and-mortar portfolio has been experiencing significant revenue losses in recent years, as customers increasingly opt for online shopping.
Its annual revenue has dropped by more than 35% since 2022 and its stock price is down 80% from the all-time high it hit in 2021 amid an unprecedented spike coordinated by online retail investors.
The Texas-based company, which was once a major player in physical gaming sales, has expanded its digital platforms to offer downloads and merchandise, but the pivot is yet to have a measurable impact on finances.
Revenue from accessories and hardware, including new and pre-owned video games, fell by around 12% in the third-quarter of 2025, according to Reuters.
