The video game retailer didn't say which stores are shutting down. Its US stores were affected by the sales slum the most, though, so expect quite a few outlets Stateside to bid farewell.v From now on, the video game retailer will start expanding its non-gaming businesses. It plans to open 35 more collectible stores this year, bringing the total number of locations to 121. Unlike its core business, the company's collectibles division has been doing very well -- its sales were up by 59.5 percent in 2016, and GameStop expects sales to go up by another 30 to 40 percent this year.

It's not giving up on its gaming business, though: it's hoping the latest generation of consoles, particularly the Nintendo Switch, can help it regain its former glory. Chief Executive J. Paul Raines told the WSJ that "The Switch has provided a dramatic lift in traffic in stores and has real potential to be Wii-like in its ability to expand the gaming category from core to broad audiences." Nintendo's hybrid console is its fastest-selling ever, and it plans to double production to 16 million units for 2017, which sounds like good news for GameStop. For now (and probably until it's doing much better), the retailer will no longer publish quarterly financial projections to "reduce investor distraction."