GameStop is closing all stores in Puerto Rico
By the end of March this year, GameStop will no longer be in Puerto Rico. According to GameSpot the closings are due to “ongoing business challenges and increased governmental restraints.” All 35 stores will be closed sometime in March 2016.
A representative told GameSpot:
“Given the ongoing business challenges and increased governmental restraints we have experienced in Puerto Rico, GameStop has made the business decision to close all of its video game stores and operations located on the island. As a result, GameStop will be exiting the Puerto Rican market by the end of March 2016. Until that time, we will continue to conduct normal business operations.”
On November 23, 2015, GameStop reported that their total global sales fell 3.6 percent. In 2014, they made $56.4 million where as in 2015 they only made $55.9 million in the same three-month period of August, September, and October. Their hardware sales dropped 20.4 percent last year (2015) and software sales fell 9.3 percent.
The website MFI (Money Flow Index) reports that GameStop Corporation has dropped 30.08% in the last 3 months leaving their stock performance at -13.97%.
On a good note, their pre-owned sales rose by 0.6 percent along with digital sales rising to 8.7 percent. Seeing as almost everyone shops online now-a-days it’s no surprise.