GameStop to close more than 400 stores across 42 states in early 2026.

GameStop’s CEO, Ryan Cohen, stands to gain a staggering $35 billion in stock options if the company reaches a $100 billion market cap. One strategy to achieve this goal is by slashing costs, which includes closing numerous stores. In fiscal year 2024, GameStop shut down 590 locations and recently indicated in an SEC filing that it expects to close “a significant number of additional stores in fiscal 2025.” With the fiscal year ending on January 31st, the countdown is on, and reports suggest that GameStop is set to close over 430 stores this month.

As of January 11th, the planned closures list includes 435 stores across 42 states. By February 2025, the company was operating 2,325 stores in the U.S., marking a notable decrease in its retail footprint. This comes as GameStop is also winding down its international operations, having exited markets in Canada, Germany, Austria, Ireland, Switzerland, and Italy, with plans to leave France within the next year.

The past few years have been anything but stable for the company, but it seems to be on a path to recovery. Unfortunately, this restructuring will result in thousands of job losses. But on the bright side for the CEO, his potential billions are still on the table. GameStop has not provided any comments regarding these developments.