GameStop is set to close more stores in the U.S. after a 20 percent drop in net sales, totaling $860 million. Analysts believe the company has little chance of returning to profitability in its core business. The retailer is conducting a store optimization review and warned that closures could exceed previous years, potentially affecting hundreds of locations. GameStop's struggles are attributed to the shift towards digital downloads and online shopping in the gaming industry. The company also plans to scale back operations in Germany and Italy, following closures in other countries.
Retail Chain to Close Hundreds of Locations Amid Sales Decline
REUTERS/Andrew Kelly
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