GameStop, the once-dominant video game retailer, is accelerating its store closure plans, anticipating a significant number of additional closures in its 2025 fiscal year, which ends in January 2026. This follows the closure of 590 stores in fiscal 2024. Facing challenges from digital downloads, online retailers, and declining mall traffic, the company also reported declining revenue. GameStop is exploring investments, including Bitcoin, as it navigates financial difficulties and seeks to adapt to the evolving gaming landscape.
Meme stock GameStop, once a dominant brick-and-mortar video game retailer, is continuing to close more stores in 2026. The retailer, whose business model was threatened by digital adoption in the gaming industry, closed 590 stores nationwide in fiscal 2024 and said that it plans to close a "significant number of additional stores" in its 2025 fiscal year, which ends in January 2026.
The company didn't disclose the number of stores that it was closing in fiscal 2025 or where they were located. However, in recent days, several people on X posted pictures of recently shuttered locations in different states, with one user even linking to an unofficial blog that has been tracking GameStop's closures. WILL GAMESTOP SURVIVE? HERE'S WHAT ITS CO-FOUNDER SAYSFOX Business reached out to GameStop for comment. The company warned in early 2025 that it anticipated closing a "significant number" of additional stores and revised its investment policy, paving the way for the video game retailer to invest in Bitcoin. "The overall goals of the Investment Policy are to provide sufficient liquidity to meet the day-to-day financial obligations of the Company, and to optimize investment returns within the guidelines of the Investment Policy," GameStop said at the time. The company has faced financial difficulties since the 2010s as digital game downloads rose in popularity and competition increased from online retailers such as Amazon and big-box chains. A majority of GameStop stores were also located in malls, which faced declining foot traffic. In its December earnings report, the company reported that revenue continued to decline, falling $39.3 million year over year.LINKEDIN REPORTEDLY CONSIDERING ADDING GAMING TO ITS REPERTOIREIt became a fading relic of the mall era before rapidly becoming one of the most famous meme stocks in market history in 2021. In early January, the company granted CEO Ryan Cohen a performance-based stock option award to drive growth. In order for him to cash in, the company's market cap would need to reach $100 billion. It's currently at $9 billion. In January, retail investors, many of whom were organized on Reddit’s r/WallStreetBets, began aggressively buying the stock, which has lost over 34% during the past 12 months.Read more of this story from FOX Business.
Gamestop Store Closures Retail Digital Downloads Financial Difficulties
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Helen Mirren Receives Cecil B DeMille Award Before 2026 Golden GlobesHelen Mirren received the Cecil B. DeMille Award on the 'Golden Eve' special ahead of the 2026 Golden Globes later this month
Read more »
Titans' JC Latham Optimistic for 2026 SeasonTennessee Titans offensive tackle JC Latham expresses optimism for the 2026 season, citing the return of injured players and the potential for new leadership to improve the team's performance after two consecutive 3-14 seasons.
Read more »
January 9 • 2026The Austin Chronicle is an independent, locally owned and operated alternative newsweekly that reflects the heart and soul of Austin, Texas.
Read more »
Cox Automotive Forecasts Slight Dip in New Vehicle Sales for 2026Cox Automotive predicts a modest decrease in new vehicle sales in 2026, estimating 15.8 million units sold in the U.S., a 2.4% decline from the previous year. The forecast anticipates drops in both retail and fleet sales, alongside a potential decrease in used vehicle retail sales. The outlook also highlights the impact of economic factors, including interest rates and tax incentives, on the automotive market.
Read more »
T.J. Maxx opening giant new store in ‘prime' Chicago shopping areaThe new T. J. Maxx Lincoln Park store is set to open in Q3 2026.
Read more »
GameStop Continues Store Closures Amidst Industry ShiftsGameStop, the once-popular video game retailer, continues its store closure spree, with plans to shut down a significant number of stores in its 2025 fiscal year (ending January 2026). Facing challenges from digital downloads, online retailers, and declining mall traffic, the company's revenue continues to decline. Despite a brief surge in popularity as a meme stock in 2021, GameStop is struggling to adapt to the changing gaming landscape.
Read more »