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.

:arrow: Source
 

laudern

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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.

During the gcn days I would have bought> played > returned approximately 20 games over a 3 year period at my local EB. I didn't even bother going to a video store to rent out games. I'd just abuse the EB system. I'd even buy the game at EB to see if it was any good, and if it was, return it, and then buy it from some other place at a cheaper price. None of the employees seemed to care either (not to my face anyway).
 

Miney

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I really hope they close all their stores in Sweden, I have tried many times getting a steam link/controller from them many times but they NEVER have them in stock, at least not anywhere reasonably close to me. They are the only ones 'permitted' to sell steam hardware in Sweden, except for steam themselves, but the shipping fee is not worth it...
Also tired buying a PSvita when they had a sale for the whole summer, but they never had it in stock, and in Sweden you can't order from them at all via their website.
Literally never had a good experience with them, so I can't feel sorry for them. :mellow:
 

RaMon90

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I remember when my brother bought a ps3 game (it was goty awarded) on day 1 for 70 euro and 2 weeks later they valued the game for just 25 euro. Usually for used games they sell it for 50/55 euro.
 
D

Deleted-379826

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I hope the store near me doesn't close... It's not the company itself that I enjoy visiting my local GameStop, it's the employees. They are very nice and have actually gone out their way to help me get the product I'm looking for.
Fun fact, here in Canada, it's EB Games and almost all locations have super nice employees. There was this one girl who literally phoned all these EB games locations and got cubic ninja shipped to their store in mint condition and sold it to me for $20 when that was still relevant. Other things are they constantly let me have extras of pre order bonuses, so I get the posters and everything without spending a cent. :P I really like EB games here!
 

Jonna

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Fun fact, here in Canada, it's EB Games and almost all locations have super nice employees. There was this one girl who literally phoned all these EB games locations and got cubic ninja shipped to their store in mint condition and sold it to me for $20 when that was still relevant. Other things are they constantly let me have extras of pre order bonuses, so I get the posters and everything without spending a cent. :P I really like EB games here!
Agreed. I don't see any issues with the EB Games here in Canada, and that's living in two different provinces and visiting them in two other provinces. Employees are at least 90% customer service, the prices aren't skyrocketed any higher than any other store selling games, and I really love the ones in my city I'm living in now. Hell, the local shops for gaming in Calgary charge a bucket-load more for games, especially if they're older.

I can't find out if this includes EB Games in Canada or not, though.
 

DS1

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It stands to reason, there are at least 7 Game Stops in my city (four of which are within 1 mile of one another), and my city isn't even that big. We had one close a few years ago, wouldn't be surprised if one of each close-range pair is closed.

The only other game retailer around is a smaller chain that has a bigger selection (sell for most classic systems, buy GS's stock when they liquidate certain systems), but way higher prices (and of course, they are also always shifting or shutting locations down). GS's prices are pretty cheap, cheaper than Amazon, plus no shipping (though with Prime, you can get a lot of stuff shipped free tbh), and WAY cheaper than trade markets. Like when Nocturne was going for US$80, I was able to get a copy at GS for $20. They also (only once or twice a year) have decent sales, but Amazon probably has similar, if not more frequent sales.

GameStop functions very much like BookOff in Japan, in that you get a little credit for the stuff you trade to them (and you don't really sell unless you've run out of space, which happens a lot in places like Japan where space is always at a premium), but you can usually buy back the same value for what you traded. In any case, I buy 99% of my stuff digital now, but if it's some stupid game I don't really want to own forever, I usually buy from GS because their used price is cheaper than even sale prices on PSN (there are exceptions, which is why I check PSN every Tuesday, LOL).
 

Foxi4

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At least here in the land of overpriced games this is sadly not true with "new" used titles. Horizon: ZD is currently around $80 new and $75-78 used, while it's definitely cheaper, you may as well spend the extra 5 bucks for a guaranteed mint condition copy.
It's not even "guaranteed". Discs often dislodge inside the case during shipping and can self-scratch as they're bouncing about in the case. They can also scratch if the box was squeezed by any external force. Like I said, there are myriads of reasons why certain cases are opened.
 

SodaWithYoda

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That's never happened with me. My boxes were always crystal-clear. And I, for one, haven't seen a GameStop pre-owned go for full price, and I like to buy the pre-owned games because they fit budget-prices.

Losing relevancy? Please clarify.

GameStop is less needed. Digital distribution is becoming a stronger medium, and some are resorting to Amazon/eBay/Etc, or other stores besides GameStop to get their physical copies. For example, me.
 

tbb043

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Hasn't GameStop stopped from calling customers as customers and to "Clients" or "Guests"? Then I suppose that "Pre-owned" might get a new alt title too.

"Pre-Played"
"Pre-Inspected"
"Pre-Checked"
"Pre-Gamed"
"Pre-Touched"
"Pre-Refurbished"
"Pre-Opened"
"GameStopped"

Enough of "pre" B.S. It's used. Used. :P Even when a gaming company sells a "New" game it's not really new, it's unsealed so it's used.

New games are sealed at every GS I've ever been to (at least a half dozen or more within driving distance for me), unless they're down to display copies.
There are 2 malls in my area that have 2 game stop stores in each mall. Makes absolutely no sense. They need to start with those stores first.

Heh, we had 2 in a local mall for a while, but that was only because the mall had both a GS and an EB. After GS bought EB and phased out the EB name, both were GS stores, then the original GS shut down and only the EB GS is there now.

Considering GS used to be about 5 different stores (EB, Funcoland, Software Etc, Babbages, and GS itself) I would bet at least one of the GS in your malls were originally other stores, but somehow managed to remain profitable enough to keep both after they changed over. It happens. One time I was in a mall that had multiple McDonald's in it. Weird, but unless they're actively losing money at one of the locations... *SHRUG*
 

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