The store closings were concentrated in the U.S. and Europe. In the U.S., GameStop closed 590 stores, and had 2,325 as of February 1, 2025; in Europe, GameStop closed 337 of its 647 stores, leaving it with 311. It closed 30 stores in Australia, leaving it with 374, and 10 stores in Canada, leaving it with 193. GameStop announced last month that it plans to sell its stores in Canada and France.
Like its store count, GameStop sales also continued to decline dramatically in its fiscal Q4 and year ended February 1, 2025. Sales for the quarter were down 28%, to $1.283 billion from $1.794 billion in the previous year. That's roughly the same rate of decline as its annual sales, which declined 27%, to $3.823 billion from $5.273 billion in the previous year.
Collectible sales were a bright spot in the quarter, a trend that began in the previous two quarters as GameStop began buying slabbed Pokemon TCG cards in its stores and selling them online (see "Collectibles Pivot Finally Working?"). Collectible sales were up 16% for the quarter, from $233.7 million in fiscal Q4 2024 to $270.6 million in fiscal Q4 2025. For the year, Collectibles showed the smallest decline of any category, a 5% drop to $717.9 million from $754 million in the previous year.
GameStop is slowly turning around its operational profitability but makes a profit based on the interest on its massive cash horde, which its meme stock status allowed it to raise over the past few years. The company made $79.8 million from operations in the holiday quarter ended February 1, a substantial improvement from the $55.2 million profit in the same quarter a year ago. Interest earnings helped turn that into a $131.3 million profit for the quarter.
For the year, GameStop lost $26.2 million from operations, an improvement from the $34.5 million loss in the previous fiscal year, but made a $131.3 million profit overall after interest earnings. That's a big turnaround from a $6.7 million profit in the fiscal year ended February 3, 2024.
Figuring out what to do with all that cash ($4.75 billion at year end) has GameStop looking to cryptocurrencies to find returns. It announced that it has authorized the purchase of bitcoin and U.S.-denominated stablecoins as part of its investment policy.
