GameStop to close 250 stores this year, SlashGear reports GameStop (GME) CFO Rob Lloyd spoke at the Goldman Sachs Technology and Internet Conference and announced that the company plans to close 250 stores this year, SlashGear reports. The company will also open up 60-70 new stores during the same period. 200 of the stores to be closed are located in the U.S. Lloyd also says GameStop has acquired 40 shut-down GAME stores in France. Reference Link
News For GME From The Last 14 Days
Check below for free stories on GME the last two weeks.
GameStop estimates lowered on holiday discounts at BofA/Merrill BofA/Merrill lowered its Q4 estimates for GameStop citing a greater than expected holiday promotional environment. The firm cut its price target for shares to $59 from $69 but keeps a Buy rating on the name.