GameStop May Close a Large Number of Missouri & Illinois Stores

I hope reports are wrong as I have a soft spot in my heart for video games and the retail stores that made them easily accessible for the past few decades. However, there is word that GameStop is considering closing a large number of Missouri and Illinois stores as we speak.

I saw this story from Retail Dive. They noted that GameStop sales have fallen 31% and says they were eyeing more store closures. There is a form submitted by GameStop to the Securities and Exchange Commission from that last earnings call. As of August 3, 2024, they reported an operating loss of $22 million dollars.

Here's the key phrase in the report:

“may result in the closure of a larger number of stores than we have closed in the past few years.”

The article goes on to say that GameStop is "identifying stores for closure" now.

Locations Cloud says there are still 101 GameStop stores in Illinois and 53 in Missouri. With nearly all video game consoles allowing for direct purchase and downloading of games through their online connections, it's hard to imagine how Gamestop can turn their fortunes around.

There were hopes that GameStop's new retro stores might help them with those nostalgic for game systems of the past. But, recent online reviews of that experience have been less than favorable.

I still have friends that manage GameStop stores and I hope this longtime brand can find a new niche, but it sure looks dire at the moment. Perhaps the upcoming holiday season will allow them to find new life.