GameStop closing at least 150 stores.
Video game chain GameStop Corp., hit hard by a shift to digital downloads, plans to close at least 150 stores this year and expand nongaming businesses.
Sales and earnings fell by double digits in the latest period, and the GameStop brand lost some market share during the holiday season due to discounts
Meanwhile, collectibles—one of GameStop’s success stories that is expected to become a $1 billion annual business by the end of 2019—saw sales surge 59.5 percent in the year that just ended and are projected to increase another 30 percent to 40 percent this year.
GameStop had 86 collectible stores as of Jan. 28 and plans to open an additional 35 such stores this year. Denver Post wire services