GameStop to Shut Down 400 to 450 Stores in 2020: CFO

September 10, 2020 Updated: September 10, 2020

Video game retailer GameStop is closing about 100 more stores than what was originally planned, and the struggling firm said that it will close more locations next year.

In an earnings call on Wednesday, the company said that between 400 and 450 stores around the world will be shut down by the end of 2020—more than the 320 stores that it originally had planned to shutter when it announced closures in March.

GameStop Chief Financial Officer Jim Bell said that the closures “will allow us to more efficiently and profitably service our customers,” according to CNN. He added that “there are more to do” in terms of closures in 2021.

Reports said that GameStop still has more than 5,000 stores worldwide, although that is down about 600 from last year.

More than 321 retail locations were shut down in 2019 as the chain struggles to compete against digital game purchases via websites like Steam or GOG.

In March, Bell said of the closures: “Importantly, we want to emphasize that these store closures are a very specific and proactive part of our dedensification plan and they are not related to recent business trends.” He was referring to the business shutdowns caused by the viral pandemic.

Around the same time, the company drew controversy for not closing down its locations in states that had lockdowns and stay-at-home orders over the CCP (Chinese Communist Party) virus pandemic.