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Gaming retailer to shutter stores this year as sales drop
Online gaming is taking its toll on GameStop in a big way. The retailer said that its video game category was weak, particularly in the second half of the year. This challenge, combined with shoppers’ attraction to online gaming, contributed to a total global sales decrease of 13.6% to $3.05 billion for the fourth quarter ended January 28, 2017. The company earned $208.7 million, in the fourth quarter, compared with profits of $247.8 million for the same period a year ago. -
Report: Footwear chain eyes Chapter 11, shutters stores
Payless could be the newest retailer headed toward bankruptcy. The struggling retailer could file for bankruptcy as soon as next week. In the meantime, Payless is already making plans to reorganize operations by shuttering stores, according to Bloomberg.

