Video game industry is at its best with $108.9 billion in global revenue for 2017, representing a 8% growth compared to 2016. According to Newzoo, there are currently more than 2.2 billion active gamers across the globe.
In spite of this massive growth in gaming industry, the video game retailer GameStop has been struggling over the past few years as video game purchases from retail stores continue to decline due to the strong growth in the e-commerce and competition from online giants like Amazon.
The Grapvine, Texas-based company, which had a total of 7,535 stores at the end of its fiscal 2016, anticipated to open about 100 new stores as well as close about 130 Video Game Brands stores worldwide and 55 Technology Brands stores in fiscal 2017.
The demand for Nintendo Switch drove GameStop's sales up 15% in the recent quarter. https://news.alphastreet.com/gamestop-q4-2017-earnings/
