Several more GameStop stores appear to be closing down, although there's technically been no real official announcement from the company or its management regarding these closures (save for one small detail in an SEC filing).
Over on the GameStop subreddit, a number of GameStop employees are declaring that their stores are being closed. Sorting posts by most recent on the subreddit shows tons of posts pertaining to store closures, although the posts don't name which stores are closing.
That might be owing to the policy outlined in a post by GameStop assistant store leader ArcherFawkes, who claims that if employees share information about a store's closure with customers, they'll be punished. As such, users are directed not to "ask for what stores are closing", as they "cannot tell you outright".
The full scale of the store closures isn't currently known, and it is possible that some of these posts are by users who work at the same GameStop, but it seems that plenty of stores have been affected.
Technically speaking, GameStop management hasn't made an official public-facing announcement of these closures, although in an SEC filing from mid-September, company management said an ongoing review "may result in the closure of a larger number of stores than we have closed in the past few years".
These closures come after GameStop announced back in March that it had closed 287 stores over the previous fiscal year, following on from hundreds of other store closures in previous years.
In its latest earnings release, GameStop acknowledges that its net sales have dropped from $1.078 billion in last year's third quarter to just $860m in the same period this fiscal year, although net income for the third quarter was $17.5 million, up from a $3.1 million loss during the same period last year.
Of course, in many people's minds, GameStop is still associated with the bizarre meme-driven 2021 stock inflation story, which saw stock prices soaring to such a height that trading was halted more than once owing to volatility.
The situation eventually got so out of hand that it attracted the US government's attention. Eventually, author Ben Mezrich would write a book, The Antisocial Network, chronicling the debacle, with that book later becoming a major Hollywood motion picture by the name of Dumb Money.
We'll have to wait and see what happens in the coming weeks with regards to GameStop store closures, but for now, if you're a company employee, it might be best to check with your management regarding what's going on with your store.
