GameStop Is Reportedly Shutting Down Over 400 Stores
Some of his attempts to resurrect the company include selling physical trading cards and investing in Bitcoin. When Cohen took over as CEO in 2021, the market cap was at $1.3 billion. Notably, last week, GameStop pledged billions in stock options to CEO Ryan Cohen if he could increase the company’s market cap from its current $9.3 billion to $100 billion.
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The store closures are part of GameStop’s cost-cutting measures. The blog maintains a state-by-state list online casinos of locations on the chopping block, and it gathers its data from GameStop employees and the retailer’s own store locator. The trend has hit the retailer hard, and it is reportedly closing a significant number of its US stores. Previously, he served as the editor of iGeeksBlog and is a self-proclaimed tech enthusiast who loves breaking down complex information for a broader audience.
The SEC filing and reports of further closures indicate a reduction of around 20-30% of its physical stores. With the rise of digital downloads, buying physical copies of games at GameStop brick-and-mortar stores has become less of a necessity for many gamers. The list updates regularly, and as of publishing, it names 471 stores spread across more than 40 states. As Polygon reports, citing a blog that tracks these closures, GameStop will shut down over 400 stores this year. From in-depth reviews to the latest news and how-to guides, PCMag is the go-to source for staying ahead in the digital world.
