GameStop set to close over 410 US stores in early 2026 as CEO’s $35 billion stock award causes massive outrage
GameStop is reportedly shuttering hundreds of stores in the United States, with recent estimates predicting that around 295 to 410 locations will close in the first quarter of 2026. This does not include the 590 stores that closed down last year.
Meanwhile, as reported by Reuters, GameStop's CEO has been awarded performance-based stock options estimated to be worth around $35 billion, provided the company meets a performance milestone of over $100 billion in market capitalization and around $10 billion in net EBITDA.
Cohen became GameStop’s CEO in September 2023 and is the company’s largest shareholder. He doesn’t receive a salary or a guaranteed bonus. Instead, he aims to be compensated through performance milestones.
Notices about the latest round of closures appeared on social media and were subsequently compiled into lists on sites such as the “GameStop Closing List” and the official GameStop Subreddit (now removed by moderators). These reports detail confirmed shuttered locations and potential rumors of store closures across states such as New York and Connecticut.
Recent reports state that select GameStop sites at Enfield Square Mall in Connecticut and Lenox Square Mall in Georgia closed in early January. Former employees are, of course, frustrated with the layoffs, as these job cuts follow GameStop’s February 2025 SEC filing, which detailed:
We have also initiated a comprehensive store portfolio optimization review, which involves identifying stores for closure based on many factors, including an evaluation of current market conditions and individual store performance.
This review, among other things, resulted in the closure of 590 stores in the United States in fiscal 2024. While the review is ongoing and a specific set of stores has not been identified for closure, we anticipate closing a significant number of additional stores in fiscal 2025.
For context, GameStop’s fiscal year 2025 ends on January 31, 2026, meaning more unfortunate closures are on the horizon for what was once considered the go-to store for video games a few years ago.
GameStop is also scaling down internationally. The company has sold its Italian operations and shuttered locations in Germany, Ireland, Switzerland, and Austria. In addition, the company plans to divest its Canadian branch. Currently, rumors are circulating that GameStop is considering closing stores in New Zealand, where 38 stores operate.
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