Shares of GameStop (GME - Get Report) were falling by 10.89% to $21.35 in pre-market trading on Friday morning, after the videogame retailer announced a decline in sales due to the rise in digital downloads and some store closures.

The company is looking to shutter at least 150 stores this year and expand its nongaming business.

GameStop saw a 14% drop in sales to $3.05 billion year over year in the fourth quarter.