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GameStop Closing 200 Stores

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The holiday shopping season hasn't officially gotten underway yet, but this year store closing announcements are arriving early. Video game retailer GameStop just announced it will be closing 200 locations next year--in spite of expecting strong fourth quarter sales, according to the Star-Telegram.

The Star-Telegram estimates that approximately 3 percent of GameStop's 6,600 stores worldwide are currently unprofitable:

Arvind Bhatia, an analyst at Sterne, Agee & Leach in Dallas, told Bloomberg News that the moves, along with the store closings, mean that "they're cleaning out the portfolio." He said "having only 3 percent of your stores losing money generally is a fairly healthy number for a retailer."

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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