GameStop is kicking off 2026 by shutting down over 400 stores in 42 states
GameStop CEO Ryan Cohen stands to potentially earn $35 billion in stock options, provided the company reaches a market cap of $100 billion. One way to achieve this goal is to reduce costs, and another way to reduce costs is to close a number of stores. The company closed 590 stores in fiscal 2024 and said in a recent SEC filing that it plans to “close a significant number of additional stores in fiscal 2025.” With the fiscal year set to end on January 31, it appears the race is on, and according to a blog tracking the closures, GameStop plans to close (or already has) more than 430 stores this month.
As of Sunday, January 11, the list of planned closures stands at 435 stores in 42 states. As of February 2025, the company operated 2,325 stores in the United States, representing a significant reduction in its retail presence. And it comes as the company winds down its international operations, having already exited Canada, Germany, Austria, Ireland, Switzerland and Italy, and plans to exit France in the next 12 months.
To say the company has had a tumultuous few years would be an understatement. However, it seems his fortunes have recently changed. And despite this, it will leave thousands of people unemployed. But hey, at least the CEO could get his billions back. GameStop did not respond to a request for comment.
