During the struggling retailer’s Q2 2019 Earnings Conference Call, GameStop CFO Jim Bell revealed he was planning to shutter as many as 200 underperforming stores globally. And that’s just the beginning: Bell also teased there would be “a much larger tranche of closures” over the next year or two, assuming the company even survives that long.
GameStop’s complete Q2 2019 fiscal results are available here. The company lost $32 million this quarter after global sales decreased by 14.3 percent.
We are on track to close between 180 and 200 underperforming stores globally by the end of this fiscal year. And while these closers were more opportunistic, we are applying a more definitive analytic approach, including profit levels and sales transferability that we expect will yield a much larger tranche of closures over the coming 12 months to 24 months.