GameStop to close up to 190 stores

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After suffering a rough fourth quarter in 2016, GameStop will be closing at least 100 stores soon, according to a recent financial report. Hardware sales declined by 29.1%, even though the PlayStation 4 Slim, PlayStation 4 Pro, and PlayStation VR all launched within that period. Software sales were down by 19.3% as well. The retailler also blamed "weak" sales of big budget AAA games for the harsh decline, mentioning that the latest Call of Duty title had disappointingly sold 50% less than 2015's Black Ops 3. This announcement comes after Microsoft revealed Xbox Game Pass, a digital subscription that allows players to have access to a wide catalog of games for a monthly fee, which further hurt the brick-and-mortal GameStop, causing stock prices to drop by 7%. This leads to a total stock decline of 31% for the company, in the past year alone.

Total global sales decreased 13.6% to $3.05 billion, while consolidated comparable store sales declined 16.3% (-20.8% in the U.S. and -4.6% internationally). As stated in the company’s holiday sales release in January, the fourth quarter was significantly impacted by weak sales of certain AAA titles and aggressive console promotions by other retailers on Thanksgiving Day and Black Friday. As a result, new hardware sales declined 29.1% and new software sales declined by 19.3%. Pre-owned sales outperformed new video games, declining 6.7% compared to the fourth quarter of 2015.

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It was to be expected.

Physical games are nice to collect, and should be preserved as gaming history, but I see a general trend towards online distribution in the future. Plus, at least with digital distribution, you don't have to awkwardly walk into a store with the TV blaring and wait for the people at the register to do their job.
 

limpbiz411

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I hope they close my local gamestop. They are very mean people.I got ridiculed at my local gamestop because i don't buy any of the new call of duty's. They call some the games i like kids games likey professor Layton. They laughed at me because im 31 and im buying pokemon. I will never go back there ever. I drive the extra distance to the next gamestop.
 

FAST6191

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Oh, I had seen that one before.
So a single story, a spin on it, some idle speculation on it and a revisit when it makes the rounds some time later from what I can see. Said single story seemingly back then (and despite not having checked further today) being a bit of a non issue from where I sat.

I thought we were talking about actual devious supply manipulation, though why destroy when you can presumably warehouse*, which I can almost respect. I don't know if I would do it as a means of investment

*they did a variation on the theme before with the wii reprints which I was fine with.

That said I have a fair few problems with the game collecting set, and also the "must not do anything other than coddle your games". My favourite for the latter being when someone here decided to float the idea of repurposing a bunch of SNES controllers into USB controllers and selling them on.

Actually i do. The US passed a bill a year and a half ago. This bill makes it so digital good licences must be able to be resold, tradable and transferable. The UK i believe have also pasted a simular bill. Companies have until March of 2019 ( the end of the 2018 business season)to make it possible. I expect Steam to be the first ones for a reliable system.
The EU did... about 5 years ago.
https://arstechnica.com/tech-policy...-upholds-right-to-resell-downloaded-software/
Progress thus far into even having something marginally workable, never mind as workable as disc/cart form
Somewhere between bugger all and "ahahahahahaha".
Progress thus far into having something that is as workable as transferring files?
"are you high?"

I hope I am wrong, I really do. Such a thing would probably even see me start using Steam. However I don't think I can even call that being cynical any more as much as just being realistic.
 

jimbo13

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I hope they close my local gamestop. They are very mean people.I got ridiculed at my local gamestop because i don't buy any of the new call of duty's. They call some the games i like kids games likey professor Layton. They laughed at me because im 31 and im buying pokemon. I will never go back there ever. I drive the extra distance to the next gamestop.

I've had similar experiences, asked if they had any arcade sticks and a guy asked me if something was wrong with hands and he knew a retarded guy who had to use those. I almost punched him the face.
 

Hi-Dro

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Bye bye gamestop you crooks with robot employees.


I've had similar experiences, asked if they had any arcade sticks and a guy asked me if something was wrong with hands and he knew a retarded guy who had to use those. I almost punched him the face.

I hope they close my local gamestop. They are very mean people.I got ridiculed at my local gamestop because i don't buy any of the new call of duty's. They call some the games i like kids games likey professor Layton. They laughed at me because im 31 and im buying pokemon. I will never go back there ever. I drive the extra distance to the next gamestop.

Idiots arnt they don't you worry guys see if you got a local indie game shop you're much better going to them, better service (mostly) and your money will actually go to help supporting an actual person rather than a stinking fat rich pig.
hope those guys end up working in macdonalds thats where they belong
 

DrkBeam

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Before I didn't have any doubts about the physical games, now I have the feeling this is going to be a trend, actually a lot of my games are digital, it might be like movie rentals or PC game disk?
 

Kirbs

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Actually i do. The US passed a bill a year and a half ago. This bill makes it so digital good licences must be able to be resold, tradable and transferable. The UK i believe have also pasted a simular bill. Companies have until March of 2019 ( the end of the 2018 business season)to make it possible. I expect Steam to be the first ones for a reliable system.
Could you provide a source of the US bill that was passed? I tried searching for it, but I couldn't find it.
 
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Ericzander

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Having not looked at which stores are closing, I reckon that a big chunk of the 190 stores that are closing are in areas where there are multiple stores. In my city alone I think there are 3 GameStops (formerly 4). They have to be cannibalizing each other's sales at a certain point. By closing down duplicate stores, I'm sure that many individual stores will see big boosts in foot traffic and revenue.

I don't see GameStop going the way of Blockbuster... at this point. It appears to me that those in charge see the writing on the wall and are doing their best to diversify in order to stay around longer. If any of you have been to a GS in recent years, you'll see that much of the store's space is taken up by merchandise as opposed to video games. It's going to take at least another console generation (and I believe more than one) before physical gaming is all but obsolete. GameStop has several years to figure out what to do. I hope for their sake that they are looking at the market, and I believe that they are.

Closing stores is not always a bad thing or a sign of failure. Downsizing happens to big corporations all the time. I'm sure most of us know a McDonalds or two from our childhood that is no longer around.

On another note, I have a personal vendetta with a particular GameStop that back in the day sold my Dad a broken GBA SP with a receipt with no number on it so it was impossible to return (and they threatened to call the cops on my Dad for being angry about it). Very glad that store is closed, but I still abuse GameStop's 7 day return policy at least once a year so it's not in my best interest for them all to close down.
 

zoogie

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GameStop is, like, the only place to buy games around here. Except Wal-Mart. We don't have any mom-and-pop shops or the like here.

So I'm kind of hoping mine stays open.

(also, the employees aren't too bad)
Agreed. Less competition is never a good thing. Less competition leads to higher prices and less variety.

If you want Gamestop to disappear from your life, just don't go there. Wishing it to disappear for everybody out of personal spite benefits nobody.

fwiw, I normally don't like shopping at gamestop because I loath being hounded for something I don't intend to buy. However, I'm glad it's there in case something I want isn't at the big box retailers in my area. They have one advantage in that their selection is better than the big box stores. Yes, I'm aware online retailers usually have the better selection, but sometimes I want a game now and online doesn't always have the best price or selection.
 
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Dust2dust

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I hope they close my local gamestop. They are very mean people.I got ridiculed at my local gamestop because i don't buy any of the new call of duty's. They call some the games i like kids games likey professor Layton. They laughed at me because im 31 and im buying pokemon. I will never go back there ever. I drive the extra distance to the next gamestop.
You know you could pretend you're a father buying a birthday gift for your kid. (unless they know you personnally).
 

jimbo13

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You know you could pretend you're a father buying a birthday gift for your kid. (unless they know you personnally).

Shouldn't have to. To each their own, I know I generally prefer a lighter story in my gaming or at least well done.(last of us)

I'll take sword & sandal over GTA or COD any day of the week. I turned Witcher 3 off because of stupid sex humor and the bloated tutorial but totally mark out for new Zelda.

I find most of the allegedly "adult" titles so BRO-Mountaindew stupid I generally prefer something younger geared, I wanted more clothes covering ass in the last Street Fighter.
 

AyanamiRei0

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Every time I go into a Gamestop these days, it seems like less than half the store is dedicated to selling videogames, and the remaining space is devoted to little figurines and stuff. Does Gamestop even want to sell videogames anymore?

In a store called GAME in the uk yes really well in the town I live in has a bigger place for Lego Dimensions stuff then Nintendo stuff in general.
 
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