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As gaming becomes more online and more focus is put on digital downloads and content brick and mortar stores suffer. Perhaps none more than GameStop, one of the oldest names in the gaming space. Over the past year or so the company has been attempting to pivot to a gaming lifestyle brand, focusing on selling t-shirts, gaming and nerd culture paraphernalia such as Funko Pop figures, collectibles and such.
Earlier this year they also made a play to partner up with multiple esports teams, including Complexity Gaming which is one of the longest running esports organizations in North America. Their partnership with Complexity saw the creation of an 11,000 square foot Performance Center.
Despite their attempt to reboot and pivot into the esports space, GameStop value continues to plummet. During the Q2 earnings call for GameStop it was announced that between 180 to 200 stores would be closed globally for ‘under-performing’. It was also stated that of the 5700 stores around the world that 95% of them were profitable according to GameStop CFO James Bell.
Source via GamesIndustry.Biz