GameStop set to close 150 stores nationwide

GameStop will be closing 150 of its 7,500 stores after a drop in fourth-quarter sales.

According to 11Alive, GameStop saw a 13.6 percent drop in global sales, a 29 percent drop in hardware sales and a 20 percent drop in new software sales from last year. The decrease could be contributed to increased competition from retailers like Amazon, Walmart and Best Buy.

"Not only are they getting hammered by the online retailers and big box that have an inherent cost advantage through no retail real estate footprint or a much larger footprint that they can leverage with other products, but the movement to mobile-based games is creeping up mightily," said Larry Perkins, CEO and founder of SierraConstellation Partners.

There are four GameStop locations in Middle Georgia, but a list of store closings has not yet been released.

This story was originally published March 27, 2017 at 4:33 PM with the headline "GameStop set to close 150 stores nationwide."