GameStop closing 250 'unprofitable' stores, opening over 60 locations in 2013
GameStop will close 250 retail locations in 2013, but open between 60 to 70 stores, including 40 derived from UK retailer GAME's collapse in France.
"Closing 250 stores enables us to deal with the very small percentage of stores that we have that are unprofitable, but also to close marginally profitable stores and actually make more money by moving customers to other nearby stores," said GameStop CFO Rob Lloyd at yesterday's Goldman Sachs conference in San Francisco. "We've been successful at that for two years, and we'll continue that program in 2013."
Lloyd calculates that GameStop will have an overall square footage reduction of 2 percent across stores. There's no further information about which stores are shutting down at this time.
