GameStop has long been on a ste💮ep decline—marke💛d most recently by the permanent closure of all of the company’s Nordic locations.
With global footing in 16 countries, GameStop has been dishing out games, hardware, and accessories for close to 36 years. Two of those countries, ostensibly, will shut down operations come 2020. Sweden and Norway, ꧅together, house upwards of 300 stores. All of them will be closing their doors.
The story was originally reported by , who reached out to GameStop for comment. GameStop executives have yet to release an official statement and refused to answer requests for ꧋more information. A few Swedish store managers, however, were able to confirm that an internal email regarding the upcoming closure of all Scandinavian GameStop locations has ജbeen circulated to employees.
All of this comes as no surprise. GameStop is still trying desperately to recover from its worst reported year in company history. The retailer published a $673 million loss in 2018. Numbers were significantly🌟 better this year, but net losses still sit at unsustainable levels. Q3 alone saw an $80 million loss. A decline in sales is reported in all categories except for collectibles, which saw a 4% increase. GameStop also purchased over 22.6 million of the company’s shares for close to $115 million.
The gaming industr𒀰y is changing. Games are, more often than not, downloaded wirelessly rather than purchased in store. Why leave yo𝓡ur house when you can download games from digital stores or order gaming equipment online? As console capability improves and networks grow faster, an answer begins to take shape: you wouldn’t. Maybe colder, Scandinavian weather encourages people to stay indoors even more.
Like Blockbuster's piteous demise, GameStop always seemed destined for bankruptcy—used Wii controllers and unboxed Turt⛦le Beach headsets used only as anchors for a sprawling network of cobwebs.
Bloꦉckbuster was one dimensional. They only sold movies. GameStop, however, sells more than games. Stores are stocked with consoles, used games, gaming accessories, and much more. If you need something specific in a cinch, it’s the place to go—which is why they’ve clung to existence for so long. How much longer they have left, however, is unclear.
Source: