GameStop plans to close 200 stores by next year. The closings follow the Texas-based video game retailer’s report of unexpectedly good third-quarter results. The retailer heads into the holidays weighed down by a two-year industry slump as players gravitate to mobile and online play from console-based games. It runs 6,650 stores worldwide. Investors are weighing whether the release of Nintendo’s Wii U will spur sales or confirm declining interest in packaged games. For the third quarter, GameStop posted a net loss of $624.3 million, or $5.08 a share, compared with net income of $53.9 million, or 39 cents, a year earlier. Excluding impairment expenses, earnings of 38 cents topped the average analysts’ estimate of 33 cents per share. Sales declined 8.9 percent, to $1.77 billion.
GameStop will close 200 stores
By Cliff Edwards| The Washington Post News Service with Bloomberg News November 18, 2012
Read it all, now.
Don't miss any of your favorite stories again. Read the stories that matter to you as much as you want, whenever you want when you subscribe to BostonGlobe.com.
Get full access today for just 99¢