The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. The news comes way of At the moment of publishing, it's unclear what stores will be shut down, and when these shut downs will happen.

That's a very challenging strategy when you have long-term costs including leases.

That's in line with the company's efforts to change its business by managing expenses, lowering its inventory, and shrinking its store count.For the full year, overall global revenue dropped by 22% and same-store sales fell by 19.4%.

"Following several years of both organic and inorganic growth, this process is yielding profit synergies not heretofore realized," Bell added, "and in that light, we expect these closures to positively impact both sales and ... our EBITDA growth as we transfer sales to nearby stores. Daniel B. Kline is an accomplished writer and editor who has worked for Microsoft on its Finance app and The Boston Globe, where he wrote for the paper and ran the Boston.com business desk. By creating an account, you verify that you are at least 13 years of age, and have read and agree to the Comicbook.com GameStop has announced that it will be closing over 300 stores this year as part of its ongoing effort to "de-densify." While GameStop manages to turn a fourth-quarter profit, the brand will be closing at least 320 stores in 2020, while forced closures related to COVID-19 coronavirus continue to represent a challenge for the struggling chain.

GameStop has announced that it will be closing over 300 stores this year as part of its ongoing effort to 'de-densify.' Let's conquer your financial goals together...faster. Stock Market

GameStop will close all of its storefronts starting Sunday following outcry from employees and calls from lawmakers to stay at home as coronavirus spreads in the United States. (TMFDankline) This move should leave the chain in a strong position to profit when the next generation of gaming consoles gets released (which is currently expected to happen during the 2020 holiday season).Cumulative Growth of a $10,000 Investment in Stock AdvisorAfter Big Sales Drop, GameStop Is Permanently Closing 300 Stores @themotleyfool #stocks $GME Leading to this was a considerable decline in both software and hardware sales. That said, the latter will presumably occur gradually throughout the fiscal year.Elsewhere during the earnings call, the retailer revealed that despite coronavirus disrupting commerce across the world and That said, while GameStop ended the fiscal year on a somewhat decent note, the year as a whole was a rough one for the retailer. About Us That has slowed the company's ability to close stores, but it's steadily doing so.Stock Advisor launched in February of 2002.

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"GameStop's business is shrinking but the company has planned for that. His latest book, "Worst Ideas Ever," (Skyhorse) can be purchased at bookstores everywhere.

GameStop is Permanently Closing Over 300 Stores.

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