Gamestop has rough third quarter, looking to shutter 200 stores nationwide

by: Chuck -
Gamestop is going through a fairly rough period right now as they reported significant losses for the third quarter of 2012 last week.  It's never good when you lose $624.3 and the losses are forcing the chain to close 200 of their stores across the United States.  The chain has yet to reveal which stores have been identified for closure.

The interesting part about the the loss is that the chain blames  the long console cycle and the dearth of quality titles in the third quarter.  It will be interesting to see what impact the launch of the Wii U will have on it's fourth quarter numbers and if all of the quality titles this holiday season are enough to get the company back in the black.  I'm a bit surprised they aren't citing competition from big box stores and online retailers for at least part of the loss as I have bought exactly one game from them in the last two years and that's just because the store was located next to a Chipotle. 
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