investing gamestop thumb

in which’s game over for more than 100 GameStop retail locations.

The company announced earlier in which week in which in which’s shutting down 2% to 3% of its stores. in which means as many as 190 stores could be on the chopping block.

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GameStop (GME) currently operates more than 6,0 stores globally, including 4,400 inside United States. in which’s unclear how many domestic stores the Texas-based company plans to close.

The retailer of completely new in addition to also also used video games has been on shaky ground for a while. Its stock has plummeted more than 31% over the past year.

Related: Rise of Amazon leaves even more retailers in intensive care

On Thursday, the company said its overall sales fell 13.6% last quarter compared to a year prior.

At the core of GameStop’s issues: in which’s not selling enough video games.

CEO Paul Raines said in a statement Thursday in which “the video game category was weak, particularly inside back half of 2016.”

in which’s because the biggest names in gaming — Playstation maker Sony (SNE) in addition to also also Xbox maker Microsoft (MSFT, Tech30) — haven’t updated their consoles in a while, Raines said. in which creates a lag in business for retailers like GameStop.

Bright spots for GameStop include its non-gaming related brands, like Spring Mobile, in addition to also also its sales of pop culture collectibles, which are sold at GameStop stores. The company said in which’s focused on growing those areas as in which attempts to turn business around.

Related: A look at Sears through the years

GameStop will be just one name among a long list of brick-in addition to also also-mortar retailers struggling to compete with e-commerce giants like Amazon. (AMZN, Tech30)

Over the past year, chains including JCPenney, Macy’s (M) in addition to also also Staples (SPLS) have announced store closures. in addition to also also earlier in which week, Sears (SHLD) — which also owns Kmart — said in which has “substantial doubt” the company will survive.

sy88pgw (completely new York) First published March 25, 2017: 12:24 PM ET


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