GameStop plans to close a "significant number" of its stores in fiscal year 2025. This information was disclosed in the company's recent annual SEC report and confirmed in multiple news articles on March 26th and 27th, 2025.
Significant Closures: GameStop stated in its SEC filing that it anticipates closing a "significant number" of stores throughout fiscal year 2025. While the exact number of closures hasn't been specified, this follows the closure of 590 stores in the U.S. alone in FY 2024.
Focus on Profitability: These closures are part of GameStop's ongoing efforts to achieve profitability amid struggling in-person sales and a shift towards digital game purchases.
Shift in Strategy: Alongside store closures, GameStop is also making a significant strategic shift by investing in Bitcoin as a "treasury reserve asset." They announced a revision of their investment policy to include Bitcoin, indicating that a portion of their cash or future debt and equity issuances may be invested in the cryptocurrency.
Market Reaction: The announcement of store closures and the investment in Bitcoin has led to some volatility in GameStop's stock price. Initially, the news of Bitcoin investment caused a surge, but it was followed by a decline as analysts questioned the strategy.
Signs of the times - The same thing happen to music stores, movie stores like blockbusters and now gaming stores the online takeover continue to roll.
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