GRAPEVINE, Texas - GameStop, a video game and consumer electronics retailer, will close at least 150 stores after reporting another year of declined sales.
The Texas-based company released its report of sales and earnings for 2017 last week, and projected a grim 2017 for some stores. In the fourth quarter of last year, total global sales decreased nearly 14 percent, and new hardware sales declined 29 percent.
» STORE CLOSURES: 9 retailers closing stores nationwide this year
A spokesperson told Fortune that non-productive stores would close sometime in 2017. However ,specific locations were not announced. About 2 to 3 percent of the retailer’s total amount of stores will close.
USA Today reported that Game Stop plans to open 65 Technology Brands stores, which include cellphone retailers. It also plans to open 35 Collectibles stores, which sell apparel.
GameStop operates 7,500 stores across 14 countries.
© 2018 Cox Media Group.