GameStop Set to Close 150 Locations This Year
A new financial report of GameStop’s holiday sales figures just released this past Thursday, and the underwhelming revenue generated during that time has moved the retail chain to close down about 150 of its stores across the globe.
The news of these closures isn’t far removed from the recent public address the company gave about the questionable working conditions that their “Circle of Life” program fostered after initial news of its existence was broken by Kotaku. GameStop currently has more than 7,500 locations around the world, so in contrast, 150 of them being shut down may not be a large impact to the brand.
Still, the recent standing of GameStop’s stock prices are currently speaking volumes as they’ve currently reporting a 13% loss in share value, following a steady decline of 30% since some time last year.
GameStop is currently deploying a new sales promotion called a Pro Gaming Pass for customers enrolled in their membership program, and the offer is aimed at offering additional discounts towards the purchase of new games as incentive for certain titles being purchased by them. Only time will tell if this tactic causes any significant change in the company’s current profit margins for 2017.