In the face of a global sales decrease of 13.6 percent for the fourth quarter that ended Jan. 28, GameStop is the latest retailer to announce the impending shuttering of stores ”“ perhaps nearly 200 ”“ this year.
In a release announcing its results, where global sales fell to $3.05 billion, the company said it “anticipates that it will close between 2 percent to 3 percent of its global store footprint.” As the chain operates roughly 6,600 stores globally ”“ 4,400 in the U.S. ”“ that could mean somewhere between 132 and 198.
Consolidated comparable store sales declined 16.3 percent (a 20.8 percent decrease in the U.S. and 4.6 percent drop internationally), as GameStop”™s fourth quarter was significantly impacted by weak sales of certain AAA titles and aggressive console promotions by other retailers on Thanksgiving Day and Black Friday. As a result, new hardware sales declined 29.1 percent and new software sales fell by 19.3 percent. Preowned sales outperformed new video games, declining 6.7 percent compared to the fourth quarter of 2015.
Which stores might be closed was not revealed. GameStop maintains a strong presence in the area, including Fairfield County locations in Bridgeport, Danbury, Fairfield, Newtown, Norwalk, Shelton, Stamford, Stratford and Trumbull, as well as Westchester County outlets in New Rochelle, Ossining, Port Chester, Thornwood, White Plains and Yonkers.
