GameStop, the videogame retailer, is having a rough time. They shut down two percent of their stores in 2013. In March, they announced plans to close another 2 percent this year.
But rather than admit that the Internet has diminished the market for a physical stores that sell used video games, GameStop plans to open or acquire 300 to 400 new stores focused on "other types of electronics." CEO Paul Raines just told analysts that each of three chains GameStop acquired—Simply Mac, Spring Mobile, and Cricket—"have the potential to become $1 billion businesses." Each!
Where did he get the hubris? The same inner voice that told him that featuring Lara Croft, the video game character, as the only female in "Executive Leadership" would be a hoot. GameStop's 11-person board of directors has two women, both human.
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[Images via GameStop.com]