GameStop is shrinking its brick-and-mortar presence considerably in 2026 as CEO Ryan Cohen desperately tries to make sure he will get his multi-billion-dollar payday.
Ryan Cohen, the present CEO of GameStop, is hoping to earn his $35 billion in inventory choices, however to take action, the once-thriving online game retail chain has to hit a $100 billion market cap.
A method the corporate appears to be like to attain that aim is by slicing prices and shutting a bunch of shops.
In 2024, GameStop shuttered 590 shops and, in a current SEC submitting, might be “closing a major variety of further shops in fiscal 2025.”
The fiscal 12 months ends on January thirty first, and based on a weblog that tracks GameStop retailer closures, the corporate plans to shut over 430 shops nationwide.
The checklist at the moment stands at 435 shops throughout 42 states, which might be a major discount from the two,325 shops working within the US as of February 2025.
GameStop isn’t solely lowering its enterprise within the US but additionally overseas, with the corporate already eradicating its operations from Austria, Eire, Switzerland, Canada, and Italy.
In response to The Verge, GameStop additionally plans to exit France throughout the subsequent 12 months.
Whereas GameStop is a mere shadow of its former uber-profitable self, the corporate lately righted the ship.
Regardless of a greater monetary forecast, the corporate continues to be planning at hand out hundreds of pink slips to workers, all to make sure its CEO will get his billions.
Oh, and they’re nonetheless on social media, dropping cringeworthy jokes too.
Bruh.
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