According to a report, GameStop is planning to shut down several hundred stores across the United States

GameStop, a prominent retailer, has reportedly shuttered numerous locations in the U.S. Social media users, as observed by Polygon, have noted these closures nationwide. Currently, the GS Closing blog documents 390 confirmed store closures, with an additional 10 yet to be verified.

Reports via RNZ also suggest that GameStop intends to close its EB Games stores in New Zealand. Shane Stockwell, EB Games' managing director, purportedly informed employees via email that this is merely a proposal pending a comprehensive consultation process with the impacted staff.

According to GameStop's 10-K report for the fiscal year concluding in February 2025, the company operates 38 locations in New Zealand. In this report, GameStop disclosed the closure of 590 U.S. stores in the 2024 fiscal year, and they project additional closures in fiscal 2025.

The company's downsizing extends beyond the U.S. and New Zealand. Operations have ceased in Ireland, Switzerland, Austria, and Germany, and it has sold its Italian branch. Efforts are underway to sell its French and Canadian businesses as well.

Amidst these substantial cutbacks, GameStop announced a $35 million long-term performance award for CEO Ryan Cohen. To earn the award, Cohen must elevate the company’s market capitalization to $100 billion. Currently, GameStop’s valuation stands at $9.52 billion. During the peak of the January 2021 short squeeze driven by r/wallstreetbets, the company reached a market cap of $33.7 billion.

Between the 2023 and 2024 fiscal years, GameStop's net sales fell by 27.5% to $3.8 billion. Hardware and accessory sales experienced a 29.9% decrease, software sales dropped 33.9%, and collectible sales fell by 4.8%.