Gamestop closes “a significant number” of the shop and will incorporate very in Bitcoin

New York
CNN
–

After Gamestop closed about a quarter of its locations in the past year, closing 1,000 stores around the world, the company said it was not close. And how the company that fights closes shops, it will invest cash in cryptocurries.

Gamestop has been discovered in Tuesday regulatory submission to expect that in the coming months they close “a significant number” of additional locations, although “specific set of shops is not identified for closing”.

Most of the shutters occurred at their largest market, the United States, with 590 locations that are excluded and reducing the store number at 2,325 from 1. February. More than 330 closed locations across Europe, plus nearly 50 stores in Canada and Australia.

Globally, 3,203 gamestops remains drastically from its top about 6,000 decades ago.

Gamestop has closed hundreds of shops in the last few years, because it was struggling to adapt to changes in customers to change the games of games online and streaming. The company was also in the center “Meme Stock” Craze 2021. Yearswhich is briefly amplifier of their stock.

Gamestop joins many other known shops for closing retailers or completely disappear, including Joann, Forever 21, Kohl’s and Maci’s. Among the reasons that contribute to retail ecodes is continuing inflation pressure on consumer wallets, pressure from private capital and retail that is not adjusted quickly by changing the purchase habits.

As part of the player in Gamestop, the company also said that in Bitcoin as a cash register, announcing that “part of our cash or future adoption and future debt and capital” can be invested in digital currency.

“Pivot in Bitcoin is really defensing from irrelevance,” said Neil Saunders, the Analyst of the Retail CNN, adding that it is “unusual as basically, the strategy is not a retail, but to act as a kind of cryptocurrency.”

However, the Cripto announcement helped the stock in stock: Gamestop (Fugitive) Actions rose 16% in the loan square on Wednesday.