GameStop Sells Stores in Spain to GAME - News
by William D'Angelo , posted on 16 September 2014 / 4,926 ViewsRetailer GameStop has sold off all of its stores in Spain to UK retailer GAME. The stores that are not sold to GAME will be closed. GameStop has 70 stores in Spain, a tiny amount of the 6,600 total stores in 15 countries around the world.
"Our strategic decision to exit the Spanish market was not taken lightly," said GameStop executive vice president Michael Mauler. "We are constantly evaluating our portfolio and regional focus to deliver maximum effectiveness and profitability."
"As it stands today, we believe other international markets better match our operating criteria and as such have decided to redeploy our resources in other areas with the greatest potential for return. With its existing presence in Spain, GAME is the logical company to acquire our stores and this move will maximize job retention and ultimately ensure that the Spanish video game consumer will still have access to the best hardware and software they demand."
The deal required the approval of the Spanish Competition Authority which is expected to happen in October.
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A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel dedicated to gaming Let's Plays and tutorials. Outside, in the real world, he has a passion for the outdoors which includes everything from hiking to having received his B.A. in Environmental Studies. You can contact the author at wdangelo@vgchartz.com or on Twitter @TrunksWD.