Question: Is GameStop Going Out Of Business?

Is GameStop really going out of business?

GameStop will close 200 stores worldwide by the end of the year. The video game store chain GameStop has announced that it will shut between 180 and 200 of its stores worldwide. The news comes after the company suffered from a 14.3% decrease in global sales during its second quarter.

Will GameStop go out of business 2019?

The world’s largest video game retailer, GameStop, has a staggering number of stores around the world: Over 5,700 as of September 2019. “We are on track to close between 180 and 200 underperforming stores globally by the end of this fiscal year,” GameStop CFO Jim Bell said on the company’s Q2 earnings call Tuesday.

Is GameStop going out of business in 2020?

GameStop’s total global sales dropped 14.3% to $1.3 billion in the second quarter, the company reported Tuesday. As part of its cost-saving plan, GameStop said it will close 180 to 200 underperforming stores by the end of this fiscal year, which ends in February 2020.

Is GameStop dying?

The world’s biggest video game retailer, GameStop, is in serious trouble. In the past 12 months, the company’s stock value has dropped by two-thirds — from about $15 in January 2019 to under $5 by January 2020 — and it reshuffled its C-suite.