GameStop's financial landslide continued in Q3 2019, according to the game retailer's most recent earnings report. During the quarter, total global sales reached $1.4 billion, a drop of 25.7%. The segment that took the biggest hit was hardware, sales of which fell more than 45%. In its quarterly earnings call on Tuesday, GameStop CEO George Sherman pointed to the impending console transition as the main driver of the overall decline, and maintained that similar trends can be seen in the industry at large. Every other major category showed declines in revenue, including new software (down 32.6%), accessories (down 13.4%), and pre-owned hardware and software (down 13.3%). In total, GameStop's adjusted net loss for Q3 2019 hit $40.2 million. The company also announced on its earnings call that it expects store closures this year to number between 250 and 300, and it's planning to cease operations in the Nordic region of Europe.