GameStop closes more stores as retail apocalypse continues

GameStop closes more stores as retail apocalypse continues

Meme inventory GameStop, as soon as a dominant brick-and-mortar video game retailer, is persevering with to shut more stores in 2026.

The retailer, whose enterprise mannequin was threatened by digital adoption in the gaming business, closed 590 stores nationwide in fiscal 2024 and said that it plans to shut a “significant number of additional stores” in its 2025 fiscal 12 months, which ends in January 2026.

The company didn’t disclose the variety of stores that it was closing in fiscal 2025 or the place they have been positioned.

However, in current days, a number of people on X posted photos of just lately shuttered places in different states, with one person even linking to an unofficial weblog that has been monitoring GameStop’s closures.

FOX Business reached out to GameStop for remark. 

The company warned in early 2025 that it anticipated closing a “significant number” of extra stores and revised its funding coverage, paving the approach for the video game retailer to spend money on 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 confronted monetary difficulties since the 2010s as digital game downloads rose in reputation and competitors elevated from on-line retailers such as Amazon and big-box chains.

GameStop has continued to shut more stores in 2026. Stephen Yang for the New York Post

A majority of GameStop stores have been also positioned in malls, which confronted declining foot site visitors.

In its December earnings report, the company reported that income continued to say no, falling $39.3 million 12 months over 12 months.

It grew to become a fading relic of the mall period before quickly turning into considered one of the most well-known meme shares in market historical past in 2021.

The video game retailer closed 590 stores in the fiscal 2024 12 months, with more “additional stores” closing as its 2025 fiscal 12 months wraps up this month. Getty Images

In early January, the company granted CEO Ryan Cohen a performance-based inventory choice award to drive progress.

In order for him to money in, the company’s market cap would want to achieve $100 billion.

It’s presently at $9 billion.

In January, retail buyers, many of whom have been organized on Reddit’s r/WallStreetBets, started aggressively shopping for the inventory, which has misplaced over 34% during the past 12 months.

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