Unfortunately, GameStop confirmed that they will be closing 180-200 stores by the end of 2019. This is due to a monumental loss of $32 million in Q2 alone, which since they failed to secure a buyer, they have to close up a lot of shops. The even more unfortunate part is that this is only the start of it all, they will continue to keep closing more and more.
While these closures were more opportunistic, 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.
James Bell, GameStop CFO
Bell further said to expect even worse sales as the generation comes to an end and digital is becoming more and more prevalent.