GameStop is shrinking its brick-and-mortar presence substantially in 2026 as CEO Ryan Cohen desperately tries to ensure he gets his multi-billion-dollar payday.
Ryan Cohen, the current CEO of GameStop, is hoping to earn his $35 billion in stock options, but to do so, the once-thriving video game retail chain has to hit a $100 billion market cap.
One way the company looks to achieve that goal is by cutting costs and closing a bunch of stores.
In 2024, GameStop shuttered 590 stores and, in a recent SEC filing, will be “closing a significant number of additional stores in fiscal 2025.”
The fiscal year ends on January 31st, and according to a blog that tracks GameStop store closures, the company plans to close over 430 stores nationwide.
The list currently stands at 435 stores across 42 states, which would be a significant reduction from the 2,325 stores operating in the US as of February 2025.
GameStop is not only reducing its business in the US but also abroad, with the company already removing its operations from Austria, Ireland, Switzerland, Canada, and Italy.
According to The Verge, GameStop also plans to exit France within the next 12 months.
While GameStop is a mere shadow of its former uber-profitable self, the company recently righted the ship.
Despite a better financial forecast, the company is still planning to hand out thousands of pink slips to employees, all to ensure its CEO gets his billions.
Oh, and they are still on social media, dropping cringeworthy jokes too.
Bruh.
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