Why Is GameStop Failing?

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.

Why GameStop is going out of business?

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. That decrease meant the company had a net loss of $32 million for the period.

Is GameStop going out of business in 2020?

Update (3/21/2020 8:45pm ET): Gamestop has announced that it will be closing all its stores to regular walk-in customers starting Sunday, March 22. Customers will still be able to use a curbside pickup option at certain stores to receive purchases, or use standard shipping options from the GameStop web site.

How much longer will GameStop last?

Major gaming retailer GameStop says it will be closing “between 180 and 200 underperforming stores” in the next six months. That statement comes following 195 store closures in the last 12 months and what the company says it expects will be “a much larger tranche of closures over the coming 12 months to 24 months.”

Will GameStop shut down?

Update (3/21/2020 8:45pm ET): Gamestop has announced that it will be closing all its stores to regular walk-in customers starting Sunday, March 22. The news comes amid increasing pressure from employees and even some local governments for the retailer to shut down operations in response to the coronavirus outbreak.

Is GameStop in financial trouble?

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.

Is GameStop dying 2019?

GameStop is, by far, the world’s largest video game retailer. The company had been in steady decline for years, but the bottom has dropped out of its stock price across the last year — from $16 a share in January 2019 to under $5 by January 2020.

Is Yankee Candle going out of business?

The Yankee Candle Company Inc. will close its 28 Illuminations retail stores and the Illuminations direct business as part of a restructuring plan intended to focus resources on the core Yankee Candle business.

Is it true that Macy’s is going out of business?

Macy’s is closing 30 stores in early 2020. In 2016, Macy’s said it would close 100 stores after it reported six consecutive years of declining sales. Since then, it has been closing these locations as their leases expire.

What businesses are closing?

Here’s a list of all the stores closing this year:

  • Payless ShoeSource: 2,500 stores. <
  • Gymboree: 805 stores. <
  • Dress Barn: 650 stores. <
  • Charlotte Russe: 520 stores. <
  • Fred’s: 520 stores. <
  • Family Dollar: 390 stores. <
  • Shopko: 371 stores. <
  • Charming Charlie: 261 stores. <

How long does GameStop pickup at store take?

2 hours

Are all Gamestops closed?

Update (3/21/2020 8:45pm ET): Gamestop has announced that it will be closing all its stores to regular walk-in customers starting Sunday, March 22. Customers will still be able to use a curbside pickup option at certain stores to receive purchases, or use standard shipping options from the GameStop web site.