Video game retailer GameStop has announced that it will be closing abound 150 stores around the world following poor sales in recent months.
It was a very negative holiday season in particular for the company, as hardware sales were down 29.1% despite the new PS4 Pro and PlayStation VR launch and promotion. The company didn't profit a lot on new software either, which was down 19.3%, with AAA releases like Infinite Warfare not doing much to help this.
GameStop also has a different problem, however: competitors. Sales were "significantly impacted" by "aggressive console promotions by other retailers on Thanksgiving Day and Black Friday," the company explained. More and more people are waiting for big bargains too, which means that the same quantity of units account for a lower income.
GameStop will close the less profitable stores, but will open 35 new venues. Are you surprised at these figures, or do they make sense to you?