End of GameStop?
GameStop once the hub of all sorts of games and entertainment has been relatively going down. The company cannot stand to its rivals, who are offering much better things with better convenience to buyers. Websites like Amazon, Steam, and other game stores are doing GameStop’s job much better.
Amazon is offering Cash on Delivery to buyers, that allows them to stay home and get their order. Similarly, Steam provides you code on Internet (Digitally) and you don’t have to go outside and get a Steam code card.
Well, a few days ago GameStop decided to close all branches in Californa, due to Coronavirus pandemic. Now they have announced that they will close more than 300 stores in 2020. However, these are not being closed due to Coronavirus.
Not Related to COVID-19
The company’s Chief financial officer Jim Bell said “not related ot recent buisness trends”. Ben also said that these numbers will be similar to that of 2019, when 320 store locations were completely closed.
“In fiscal 2020, we will continue in our efforts to de-densify our store base, focused on maximizing product productivity of the entire fleet,” Bell said, via Gamasutra. “[We] anticipate store closures to be equal to or more than 320 net closures we saw in fiscal 2019 on a global basis. Importantly, we want to emphasize that these store closures are a very specific and proactive part of our de-densification plan, and they are not related to recent business trends.”
Well, GameStop has more than 5,500 stores around the world. They are a very big company, I think they are closing the locations that are not providing enough value to them. Closing more than 300 locations around the world can certainly damage their popularity. Lastly, it was also reported that GameStop will not pay its employees during the COVID-19 pandemic.
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