Between 180 and 200 underperforming GameStop stores are set to shutter before the end of the fiscal year, and more could be on the way, CNBC.com reported. GameStop has blamed online shopping and digital sales of games for much of its sales misfortune in recent quarters. The company posted dismal fiscal second quarter earnings last week and slashed its same-store sales forecast for the year. On that earnings call, the company announced it would shutter up to 200 of its 5,700 global locations and hinted at “a much larger tranche of closures over the coming 12 to 24 months.” According to data analysis by Thinknum, this is a good move for the company. For every GameStop location in the world, there are two other GameStop stores within 5 miles, Thinknum reported. And, on average, there are 6.2 other locations within 10 miles of that store. Read more.
Occupancy issues are at the heart of many significant retail cases, as detailed in the ABI publication Retail and Office Bankruptcy: Landlord/Tenant Rights, available at the ABI Store.