GameStop announces further store closures following significant sales decline

GameStop plans to close more stores after shutting down 300 locations last year. The retailer's net sales fell 20% to $860 million, down from $1.08 billion in 2023. The company is reviewing its store portfolio and has not yet identified specific locations for closure. GameStop also announced it will exit operations in Germany and slow down in Italy. Sales of hardware, accessories, and software have all declined, reflecting a shift toward digital gaming. GameStop's struggles are part of a broader trend of retail closures in the U.S.