GameStop begins 2026 by closing more than 400 stores in 42 states

GameStop CEO Ryan Cohen is expected to earn $35 billion from stock options, as long as the company reaches a market cap of $100 billion. One way to achieve this goal is to cut costs, and one way to cut costs is to close a group of stores. The company closed 590 stores in fiscal 2024, and said in a recent Securities and Exchange Commission filing that it expects to “close a significant number of additional stores in fiscal 2025.” With the fiscal year ending on January 31, the race appears to be on, and according to a blog that tracks closures, GameStop plans to close (or already has) more than 430 stores this month.

As of Sunday, January 11, the list of planned store closures has reached 435 stores in 42 states. As of February 2025, the company operated 2,325 stores in the United States, representing a significant reduction in its retail presence. It comes as the company significantly scales back its international operations, having already left Canada, Germany, Austria, Ireland, Switzerland and Italy, with plans to exit France within the next 12 months.

To say the company has had a turbulent few years would be an understatement. However, its fortunes seem to have changed recently. Despite this, it will leave thousands unemployed. But hey, at least the CEO might get his billions. GameStop did not respond to a request for comment.