GameStop Closing 150 Stores

GameStop announced late last week it would close more than 150 stores worldwide after poor holiday sales. A list of closings and locations has not been announced, but roughly 2 to 3 percent of its business will be affected; GameStop has 7,500 shops globally.A spokesperson told Fortune that closures will occur throughout 2017. According to, the Texas-based company blamed much of its struggles on slower sales of video games and increased competition from online and similar retailers. GameStop saw a 13.6 drop in global sales to $3.05 billion during the fourth quarter of 2016.

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