GameStop Closing All Puerto Rico Stores Very Soon
Video game retailer exiting Puerto Rico by the end of March.
As a result of "ongoing business challenges and increased governmental restraints," video game retailer GameStop is closing all of its stores in Puerto Rico. The island's nearly three-dozen stores will close by the end of March 2016, a GameStop representative confirmed in a statement to GameSpot today.
"Given the ongoing business challenges and increased governmental restraints we have experienced in Puerto Rico, GameStop has made the business decision to close all of its video game stores and operations located on the island," a GameStop representative told GameSpot. "As a result, GameStop will be exiting the Puerto Rican market by the end of March 2016. Until that time, we will continue to conduct normal business operations."
According to GameStop's website, the retailer currently operates 35 stores in Puerto Rico. It is unknown how many employees those stores had or if GameStop will offer any resources to affected staffers.
In November, GameStop announced financial results that came in at the low end of what it had previously forecast, in part because a number of key games--including Halo 5: Guardians and Star Wars Battlefront--failed to meet expectations. As a result, the company's share value dipped, before ultimately rebounding.
We will have a better idea about how GameStop performed during the holiday season--an important period during which the company historically does around 60 percent of its yearly business--when the retailer reports earnings again later this year.
The closure of GameStop's business in Puerto Rico was first reported today by CyberboxPR.