GameStop Plans to Close 200 Money-Losing Outlets
GameStop Corp., the world's largest video-game retailer, plans to close 200 stores by next year, saying about 3 percent of its outlets worldwide lose money.
The closings, announced on a conference call, follow the Grapevine, Texas-based company's report today of better-than- expected third-quarter results, excluding an impairment charge. The company also forecast fourth-quarter profit that was in line with analysts' estimates.
GameStop is showing "strong resilience in the face of challenging category headwinds, and the new categories of digital and mobile are creating new profit pools that we are exploiting aggressively,"