As video games are available in digital version, who needs Gamestop?
is it a good or bad thing that Gamestop is suffering?
> Forecast store closings: 500 to 600 > Number of U.S. stores: 4,471 > One-year stock performance: -2.2%
In November, just as the holiday season was in full swing, GameStop Corp. (GME) announced it would close 200 stores in 2013. The video game retailer, hurt by growth in mobile gaming at the expense of console gaming platforms, had a 4.6% year-over-year decrease in revenue, as well as a 4.4% decline in comparable-store sales over the nine-week holiday period. For the third quarter of 2012, the most recent quarterly release, gross profits fell at GameStopís three core product segments: new hardware, new software and used products.
and they are just as likely to open 200 new stores this year as well.
For **** sake. People are dumb. The business is contracting, not shifting resources. (That means decreasing in size, by the way).
i know how the company works (I used to work for them) they close underperforming stores and open in new markets all the time.
There will be at least a net loss of 200 stores. Probably more.
#22RockD79Posted 2/2/2013 2:35:01 PM
Even if they go through with it and close up a few hundred locations I'll only shed a tear for the store employees that lose their jobs. The hell with the corporate offices. The hard work is done at store level that goes unappreciated daily. I feel bad for those folks.
They're not going to tank anything soon. The problem is that they've got too many shops located so close to each other, which is why they're closing so many. I've got four of them within a ten mile radius from me. You'd think they were a fast food chain or something.
They need to close down stores anyway. They have two gamestops in a single mall in places i've gone.
That brings me back to when you had to make the choice of GameStop or EB games.
#24DemonDog666Posted 2/2/2013 2:40:36 PM
If gamestop dies then balance between new and used games can be restored.
#25DarkZV2BetaPosted 2/2/2013 2:40:56 PM
Considering GameStop has been betting on digital being "just a fad" since, like, 2004... Nope. --- AMD CACHING = NOT YET FINISHED a high end card gets bg3 1080p maxed around 200fps ~The Q on BF3.