GameStop will be closing down over 300 of its stores this year
GameStop sure has managed to grab headlines lately--with their adamant stance of being labeled as an essential business, and the eventual backing down as they closed their doors days following the launch of two major game releases: Doom Eternal and Animal Crossing: New Horizons--now the brick and mortar retailer has yet another announcement to make. GameStop will permanently be closing down over 300 locations this year. A quarterly earnings report showed that the company actually managed to turn a profit this quarter, to the tune of $21 million, even though overall sales were down compared to the same timeframe in 2019. Overall, for the entire fiscal year, GameStop lost $187.7 million. This has led executives to the decision to "de-densify", by closing "around" 320 locations by the end of this year.
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