GameStop plans more store closures

Meme Stock GameStop, once a dominant video game retailer, continues to close more stores in 2026.

The retailer, whose business model has been threatened by digital adoption in the gaming industry, closed 590 stores nationwide in fiscal 2024, and said it plans to close “a significant number of additional stores” in its fiscal 2025, which ends in January 2026.

The company did not reveal the number of stores it was closing in fiscal year 2025 or their location. However, in recent days, several people on

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FOX Business has reached out to GameStop for comment.

The company warned in early 2025 that it expects to close a “significant number” of additional stores and reviewed its investment policy, paving the way for the video game retailer to invest in Bitcoin.

“The overall objectives of the investment policy are to provide sufficient liquidity to meet the company’s day-to-day financial obligations, and to optimize investment returns within the investment policy guidelines,” GameStop said at the time.

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The company has faced financial difficulties since 2010 with the increasing popularity of digital game downloads and increased competition from online retailers such as Amazon and large chains. The majority of GameStop stores were also located in malls, which faced decreased traffic.

A GameStop store in New York, US, on Monday, March 4, 2024. (Shelby Knowles/Bloomberg via Getty Images/Getty Images)

In its December earnings report, the company reported that revenues continued to decline, falling by $39.3 million year over year.

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It became a relic of the mall era before quickly becoming one of the most popular meme stocks in market history in 2021.

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In early January, the company gave CEO Ryan Cohen a performance-based stock option award to drive growth. In order for him to benefit, the company’s market value must reach $100 billion. It currently stands at $9 billion.

GameStop Chairman Ryan Cohen. (vpn)

In January, retail investors, many of whom organized on Reddit’s r/WallStreetBets, began aggressively buying the stock, which has lost more than 34% over the past 12 months.