During a Q2 earnings call, GameStop CFO James Bell announced that "We are on track to close between 180 and 200 underperforming stores globally by the end of this fiscal year."
The videogame retailer is in the middle of implementing what's being called a "reboot" and has so far involved shutting down ThinkGeek's online store, and laying off 170 employees, as well as several staff members of Game Informer, GameStop's in-house magazine.
Bell also mentioned during the earnings call that the majority of of GameStop stores worldwide are profitable, but said "we have a clear opportunity to improve our overall profitability by de-densifying our chain." And this year's closures won't be the last of them. He went on to say, "we are applying a more definitive, analytic approach, including profit levels and sales transferability, that we expect will yield a much larger tranche of closures over the coming 12 to 24 months."
This year GameStop posted a loss of $415.3 million.
Thanks, GamesIndustry.biz.
