Retail

GameStop to close up to 200 stores by year’s end

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Signage is displayed as a customer browses at a GameStop Corp. store in West Hollywood, California.

Patrick T. Fallon | Bloomberg | Getty Images

GameStop is planning to close between 180 and 200 underperforming stores by the end of its fiscal year.

The announcement Tuesday came after the company posted dismal fiscal second quarter earnings after the bell that missed analysts’ expectations and slashed its same-store sales forecast for the year.

It said it now expects same-store sales to fall in the low teens, compared with previous expectations of a decrease between 5% and 10%. The company’s stock was down 11.1% to $4.52 midafternoon Wednesday. The shares have fallen more than 60% year to…



Source cnbc.com

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