GameStop Plans To Exit Spanish Market Through Partial Sale Of Store Locations

(RTTNews) - GameStop (GME) said it intends to exit the Spanish market via the sale of certain retail locations to specialist video games retailer, GAME Digital Plc or GAME in combination with closures of the remaining locations.

Going by terms of this proposed agreement, GameStop will transfer ownership of a portfolio of GameStop stores located in Spain with the remaining retail sites winding down in 2014. GAME already has a strong consumer presence in the country in addition to its retail operations in the UK.

GameStop said that in the coming months it will work closely with GAME to ensure a smooth transition and continued support for all of GameStop's customers in Sapin.

The strategic decision to exit the Spanish market was made after a careful review of the market's financial performance and future opportunities, which ultimately indicated the company would be better served by curtailing its operations in  and focusing its resources in other countries where GameStop has significant market share. GameStop expects to maintain and expand its presence in the other European countries in which it currently operates.