Videogame retail chain GameStop Corp.'s long-running expansion may have run out of steam.

Hard hit by consumers increasingly passing up stores to download games digitally and a less-than-stellar holiday-shopping season, GameStop said Thursday it plans to close at least 150 of its 7,500 stores world-wide. The retailer didn't immediately offer details on which stores would close, only adding that it planned to shave off 2% to 3% of the total.

Shares, down 21% over the past 12 months, fell about 11% to $21.40 in after-hours trading.

GameStop's sales slump has been more pronounced in the U.S., where comparable sales fell 13.5% in the just ended year, including a 20.8% drop during the holiday quarter.

The company also will stop giving quarterly guidance on two key performance indicators -- same-store sales and earnings per share -- instead pushing for more focus on long-term, less volatile targets.

"We believe that providing only annual guidance will reduce investor distraction as we continue to diversify the company and seek to maximize long-term shareholder value," Chief Financial Officer Rob Lloyd said Thursday in a press release.

Over all, fourth-quarter profit fell 16% to $208.7 million, or $2.04 a share, with sales declining 14% from the year-ago period to $3.05 billion.

Analysts surveyed by Thomson Reuters had expected $2.29 a share on $3.1 billion in revenue.

This business year, GameStop expects to make $3.10 to $3.40 a share with sales ranging from a 2% decline to a 2% increase, compared with a projected $3.75 a share on a 0.7% revenue increase, according to Thomson Reuters.

The retailer expects comparable sales to range from flat to a 5% decline, compared with a 11% decline in the year ended in January and analysts' projected 2.4% decline, according to FactSet.

Write to Maria Armental at maria.armental@wsj.com