Blow in the United States: the famous retail chain has confirmed massive closures

Retail has changed radically in recent decades, leaving behind the experience of strolling through the mall with friends. Many iconic stores have seen their aisles empty, unable to compete with new forms of consumption. The unstoppable rise of online shopping has left its mark on the traditional sales landscape.

Now, a particularly hard blow has been dealt to one of the chains most recognized by video game fans. GameStop has confirmed the massive closure of their stores in the United States after several years of difficulties. In 2024, they closed 960 locations and plan to close "a significant number of additional stores" during 2025, according to the United States Securities and Exchange Commission (SEC).

The reasons for a foretold fall

Founded in 1984 under the name Babbage’s, GameStop was for years a cult destination for gamers. It was famous for their midnight releases, where long lines would form to get the latest game as soon as it was released. However, those golden times are gone with the arrival of digital downloads.

The change in shopping habits has been devastating for the company. Many players prefer to purchase their games in digital format, eliminating the need to go to the store. According to Capital One, online spending in the United States was $1.34 trillion (1.34 billones de dólares) in 2024, with projections to surpass $2.5 trillion (2.5 billones) in 2030.

In this context, GameStop has been forced to make drastic decisions to try to survive. So far this year, they have already closed more than 400 stores, recently shutting down two locations in Newburgh, New York. In one of them, they posted a handwritten sign that read: "This location is permanently closed as of 7/13, last day of service: 7/12," as reported by Hudson Valley Post.

Attempts to reinvent themselves

But the company is not just closing stores: they are seeking other ways to stay afloat. One of their most striking bets is investment in cryptocurrencies, with a plan to raise $1.3 billion (1.300 millones de dólares) and buy Bitcoin. In May, GameStop acquired 4,710 bitcoins for more than half a million dollars as part of this strategy.

On the financial front, the news has not been entirely encouraging. In the first quarter of 2025, the company reported revenues of $732.4 million, which represents a 17% year-over-year decrease. In addition, total revenues of $1.28 billion (1.280 millones) fell short of Wall Street estimates.

However, there is a ray of hope in the increase in collectible sales, which rose by 55% in one year. At the same time, CEO Ryan Cohen uses unconventional tactics: after an incident with a receipt stapled to a console, GameStop auctioned off the stapler and even his own underwear on eBay. "If it reaches seven figures, I'll fly to Miami to deliver my used underwear and take the winner to eat at McDonald's," the CEO said in a message on July 10.