GameStop Plans More Store Closures Amid Shifting Retail Landscape

PLANO, Texas — GameStop Corp., the well-known video game retailer, announced plans to close a significant number of stores as part of its ongoing restructuring efforts. Following the shutdown of over 1,000 locations globally in 2023, the company indicated in a regulatory filing that further closures will be announced in the coming months.

As of February 1, GameStop operated 3,203 stores worldwide, a substantial decline from its peak of 6,000 in the early 2010s. This latest announcement arrives as the retailer continues to grapple with shifts in consumer purchasing behaviors, particularly the trend favoring online game purchases and direct downloads.

A company spokesperson stated, “We are committed to adapting to the changing market and consumer needs while exploring innovative investment opportunities.” GameStop’s venture into cryptocurrency includes a strategic investment in Bitcoin, which has reportedly led to a nearly 13% increase in its stock in premarket trading.

While specific locations for future closures have not yet been disclosed, the company has already reduced its footprint significantly, closing 590 stores in the United States—its largest market—along with closures in Europe and Canada totaling over 330 additional locations. The retailer’s challenges align with broader trends in the retail sector, where an estimated 2,500 stores nationwide are set to close in 2025.

GameStop is not alone in facing difficulties; several other retailers have also announced major closures due to financial strain. Party City, for example, filed for Chapter 11 bankruptcy protection, prompting store closures affecting 700 locations.

The ongoing shift in retail dynamics has led to predictions from UBS analysts that U.S. retail closures could reach 45,000 by 2029, primarily driven by the downturn of smaller, brick-and-mortar stores.

Other firms, including Walgreens and Kohl's, have also outlined significant store closures as part of their operational strategies. Walgreens plans to close 450 locations by the end of 2025, while Kohl’s is finalizing closures of 27 stores across various states by April.

GameStop’s adjustment to its retail model reflects a necessary response to an increasingly digital marketplace, where traditional shopping methods are rapidly evolving.