GameStop is kicking off 2026 by shutting down over 400 stores in 42 states
GameStop CEO Ryan Cohen is in line to potentially earn $35 billion in stock options, so long as the company hits a $100 billion market cap. One way to hit that target is by cutting costs, and one way of cutting costs is to close down a bunch of stores. The company closed 590 stores in fiscal year 2024 and said in a recent SEC filing that it anticipates "closing a significant number of additional stores in fiscal 2025." With the fiscal year set to end on January 31st, it appears the race is on, and according to a blog tracking closures, GameStop is planning on shuttering (or already has) over 430 stores this month.
As of Sunday, January 11th ...