Troubled US video game retailer GameStop says it has plans to close at least 320 GameStop stores on a global basis this year. It is all part of the company's "de-densification plan." The news was announced by GameStop's executive vice president and chief financial officer Jim Bell during the company's recent earnings call. Here's what Mr. Bell said:
"We continue to focus on optimizing our global store fleet in fiscal 2019 and closed a net total of 321 stores inclusive of 333 closings and 12 openings. In fiscal 2020, we will continue in our efforts to de-densify our store base, focused on maximizing product productivity of the entire fleet," he said.
"[We] anticipate store closures to be equal to or more than 320 net closures we saw in fiscal 2019 on a global basis. Importantly, we want to emphasize that these store closures are a very specific and proactive part of our de-densification plan and they are not related to recent business trends."