Entertainment retailer GameStop has told investors it plans to close 200 of its less profitable stores over the next year.

Chief executive Paul Raines explained that around 2% of GameStop’s US stores and 5% of its international stores are unprofitable at present. The retailer posted better-than-expected results for its third quarter and has forecast fourth-quarter results in line with estimates. Like-for-likes are expected to be between a decline of 7%and growth of 1%.