GameStop CFO Rob Lloyd has announced that the company will close 250 stores throughout this year.

Speaking at the Goldman Sachs Technology and Internet Conference in California, he said that the 250 stores will close throughout this year, however, at additional 60-70 new stores will open up across the U.S.

On top of this GameStop has purchased 40 closed GAME stores in France. This isn’t majorly bad news for the retailer, occasionally you just have to make tough decisions and cut the stores that aren’t making enough money–that’s all that’s happening here.