GameStop to Close 120 – 130 Retail Stores Worldwide

Video games retailer GameStop will close between 120 to 130 of its 6,457 retail locations worldwide, the company announced. The move is part of a plan to focus more on mobile called "GameStop 3.0," according to what CEO Paul Raines said at GameStop's 2014 Investor Day yesterday. As part of that initiative GameStop will focus on Mobile and Apple-based devices by launching stand-alone chains like the AT&T-branded chain "Spring Mobile" and the Apple retailer "Simply Mac."

In the current fiscal year, GameStop expects to open between 200 and 250 Spring Mobile stores. Simply Mac will see another 20-25 stores added in markets underserved by Apple's own retail chain. GameStop is expecting to add another 100 to 150 Cricket locations to the 31 it was running at the end of its last fiscal year, to serve the pre-paid wireless market.

Raines said GameStop is already the third-largest and fastest-growing AT&T retailer in the US.

GameStop expects the console gaming space to total $18 billion by the end of 2015.

Source: GII

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