GameStop to close up to 200 stores by end of year

GRAPEVINE, Texas — Struggling video game retailer GameStop announced Tuesday it's planning to close up to 200 underperforming stores by the end of the year.

The announcement came after GameStop released a dismal Q2 earnings report.

Total global sales decreased 14.3% to $1.3 billion in that time, an adjusted net loss of $32 million, according to the report.

In an earnings call, GameStop CFO James Bell said between 180 and 200 "underperforming" stores will close between now and the end of the year, Engadget reported.

"While these closures were more opportunistic, we are applying a more definitive, analytic approach, including profit levels and sales transferability, that we expect will yield a much larger tranche of closures over the coming 12 to 24 months."

GameStop is headquartered in Grapevine, Texas, and operates more than 5,700 stores in 14 countries.

Company officials haven't said which stores they plan to close.

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