Undaunted by the ongoing COVID-19 pandemic worldwide, GameStop is going to attempt to reopen some of its stores that were forced to close due to the illness. Amidst this, GameStop's senior-level management and executives will be facing salary reductions to compensate for the ongoing issues.

• A temporary base salary reduction of 50% for George Sherman, Chief Executive Officer, 30% for Jim Bell, Chief Financial Officer and the remainder of the executive leadership team.
• The Board of Directors has temporarily reduced cash compensation to directors by 50%.
• Other actions include:
  • Beginning April 26th, certain other employees across the Company’s worldwide operating units will receive temporarily reduced pay of between 10% and 30%.
  • Offered certain of the Company’s corporate support staff the option to either a temporary furlough or reduced workweek / reduced pay program.
  • Reduced inventory receipts to match demand with a focus on key hardware, software and accessories products.
  • Lowered capital spending to focus on mandatory maintenance or near-term high value strategic projects.
  • Due to the impact of governmental regulations and certain landlord decisions to close properties, the Company did not make a portion of certain lease payments and remains in discussions with its landlords regarding ongoing rent payments, including potential abatement, deferral and or restructuring of future rents during this period of COVID-19 related closure.

Most locations across the United States will remain closed, with a third of them being entirely closed, and the rest open but operating only through curbside pickup. That will change in the coming days, however, with GameStop stores in South Carolina and Georgia planning to re-open and continue business as usual. Stores across Germany, Italy, and Austria will also re-open soon, while no locations in Australia were closed due to COVID-19 and will also continue as normal.

Store Operations
The Company announced today the following updates to its global store operations:

• Approximately one-third of U.S. stores locations remain closed, with two-thirds of stores closed to customers but available for curbside pick-up.
• The Company has begun the process of re-opening stores in Italy, Germany, Austria and the states of South Carolina and Georgia and is preparing for the potential to re-open in other operating countries and states in the coming weeks.
• All stores in Australia remain open for business with strong results continuing with approximately 24% comparable store sales for the nine weeks ended April 4, 2020.

Source

 

[Deleted User]

oh that goddamn failing company's at it again

 

[SG854]

Actually taxing the rich and corporations would be a good start to keep the economy going, reduce military spending, cut taxes for the below the 1%, freeze or assist with rent/mortgages, and other programs that can be created using tax money and excess money by reducing government spending. Reopening non-essential stores like GameStop there is no vaccine or proper treatment is just going to make more problems in the long run. The economy isn't worth more than human lives and it's not worth spreading a virus so rich people can keep getting money.

I'm hoping the economy won't be too messed up and we end up starting a war from it. Lives would also be lost that way too. The destruction would be a lot worse from war. Maybe I'm overexagerating and war won't happen, but I am worried.

 

[OldGnashburg]

Imaging being as big a piece of shit as the CEO of GameStop. I really hope they never recover and go completely under.

No. Their Canadian counterpart EB Games is holding my Animal Crossing preorder hostage.

 

[chrisrlink]

Pog? I, personally, love my local gamestop and the employees so I don't want them to get sick. However, I really want to sell some of my games/get new games

for cents on the dollar? your nuts use facebook marketplace so you can set your own price

 

[SG854]

@Lilith Valentine trump also ordered Navy to destroy Iranian gun boats that Harrass us. A messed up economy from Corona virus, and this whole Iranian thing, it could be the thing that causes world war 3.

 

[The Catboy]

No. Their Canadian counterpart EB Games is holding my Animal Crossing preorder hostage.

Batards! Animal Crossing has been keeping me sane these past few weeks!

I'm hoping the economy won't be too messed up and we end up starting a war from it. Lives would also be lost that way too. The destruction would be a lot worse from war. Maybe I'm overexagerating and war won't happen, but I am worried.

I mean, a war would be pretty bad, especially if it happens and we still lack any treatment. Ultimately though, there are things that can be done to prevent a war and prevent everything from going tits up, it just requires properly using the resources we have. Personally, I hope we start seeing actual reforms because the current system is clearly not working.

@Lilith Valentine trump also ordered Navy to destroy Iranian gun boats that Harrass us. A messed up economy from Corona virus, and this whole Iranian thing, it could be the thing that causes world war 3.

Yeah, not to mention the tensions created around COVID-19 between the US and China. Things aren't looking too good for the future and GameStop being dicks is really the least of the issues we should be worrying about.
That being said, GameStop's CEO is still a piece of shit.

 

[Justinde75]

Well stores under 800 square meters are allowed to open again in Germany. The gamestop in my area is one of those stores. Its extremly small and you always stand right next to somebody. I would honestly not even go there, especially not with the current circumstances.

 

[osaka35]

Gamestop had a deal the other day, and the curb-side open gamestop in my town had an insane amount of people outside of the store super pissed they couldn't come inside the store. they were so. Angry. They wanted their slightly cheaper gamer headphones with mics. If there were a lot of stores who reported this, would explain the push. They see all those angry people as lost sales.

But then again, this is in Alabama, where stupidity is our biggest output. That and coal.

 

[MaxToTheMax]

for cents on the dollar? your nuts use facebook marketplace so you can set your own price

Gamestop is just convenient. The "return" doesn't bother me because:
A) it is a one-stop-shop
B) I am a pro member, so the in-store credit is pretty good
C) I keep in mind that Gamestop has to turn a profit on the stuff I don't care about.
Also, *you're...

Gamestop had a deal the other day, and the curb-side open gamestop in my town had an insane amount of people outside of the store super pissed they couldn't come inside the store. they were so. Angry. They wanted their slightly cheaper gamer headphones with mics. If there were a lot of stores who reported this, would explain the push. They see all those angry people as lost sales.

But then again, this is in Alabama, where stupidity is our biggest output. That and coal.

It is that way in NC too... We have people getting sick at anti-containment rallies. Can't fix stupid <3

 

[the_randomizer]

Wow, Gamestop's CEO is an absolute, uncaring and conceited prick, what a surprise. Glad I haven't bought anything from them in a long time.

 

[codezer0]

news articles like this is why I am a firm believer that any and every executive should get capital punishment as the baseline for their unethical shit. They're as disconnected with reality as Louis the XVI was with the french people leading up to their revolution, and his eventual fate.

Fining them isn't going to do shit, because people that out of touch just see a fine as a "cost of doing the thing", not as a punishment for doing the thing.

They have the mental capacity of a toddler, and far too much sway over the common man. Pain is the only language that will get through them. The more personally inflicted, the better.

 

[SG854]

Batards! Animal Crossing has been keeping me sane these past few weeks!


I mean, a war would be pretty bad, especially if it happens and we still lack any treatment. Ultimately though, there are things that can be done to prevent a war and prevent everything from going tits up, it just requires properly using the resources we have. Personally, I hope we start seeing actual reforms because the current system is clearly not working.

Yeah, not to mention the tensions created around COVID-19 between the US and China. Things aren't looking too good for the future and GameStop being dicks is really the least of the issues we should be worrying about.
That being said, GameStop's CEO is still a piece of shit.

Looks like stay at home orders are going to be harder to pull off. People are already protesting to release stay at home orders. A lot of people are out of jobs, many got laid off their 10+ yr job. 1/3rd of the country didn't pay their rent. People are saying they need money to feed their families. Many are protesting to go back to work.

 

[pustal]

Why would they do something that purposely angers people? It's highly annoying that they continue to put profit over people. The employee's themselves don't even want to work at this money hungry place, so what's the point?

Source: Cameloft's video

The point is to appease shareholders. Being the few companies to reopen should benefit stock prices. That's what all business is about these days.

 

[codezer0]

Looks like stay at home orders are going to be harder to pull off. People are already protesting to release stay at home orders. A lot of people are out of jobs, many got laid off their 10+ yr job. 1/3rd of the country didn't pay their rent. People are saying they need money to feed their families. Many are protesting to go back to work.

That's troubling. With my job in the school district, I thankfully don't have to worry about income for the rest of the (planned) school year. It's the summer time off that worries me, if only because before it was usually a case of so much would open up at the end of April or the first weeks of May and then it was doled out by seniority, preferences, etc. As a fallback there would be summer school, but the district decided to do all of that online-only for this year, as a measure of safety. So I'm not worried for income in the *immediate term*, but I would be able to be a lot calmer if I knew I had my summer duties lined-up and approved proper. Then I could rest easy(er).

But the wife is basically furloughed... or in glorified terms, unemployed. Just as things were shaping up financially, too.

These people protesting should be directing their anger at the executives that will never see any negative consequence for the fallout of this. Hopefully when things do open again, people remember who treated who well or jerked people around and start actually voting with their wallets.

 

[Immortallix]

Damn, the media really have everyone out here believing that every state is just NYC copy-pasted.

 

[Pipistrele]

The point is to appease shareholders. Being the few companies to reopen should benefit stock prices. That's what all business is about these days.

Considering their risks reputation-wise (from inevitably getting a lot of bad rep from news outlets to potentially cementing themselves as "that company that kills workers for vidjagames"), I don't see it benefiting their stock prices in long term. Seems like a desperate move.

 

[Taleweaver]

*sigh*
This is the sort of news that makes me depressed.

Belgian government: "You want to visit your grandmother to show her her greatgrandchild? We're really sorry, but we HAVE to flatten the curve. "
USA government: "reopen physical video game stores? Sure: you go on right ahead. "

It's not that I don't understand gamestop's position. They were in a bad spot before, and now even the hardcorest of their clients will consider buying games online. So if they don't reopen soon, they might not reopen at all.

Sorry to turn it political, but the problem is that the government should act like a referee in a sports match on this one. If they don't intervene in cases like this, they are ultimately the ones having to deal with the results.

 

[Bladexdsl]

for cents on the dollar? your nuts use facebook marketplace so you can set your own price

and get to compete with thousands of other listing. and when your game doesn't sell you end up dropping the price. PLUS assholes want to come and pick it up no thanks i don't want covid19 coming to my house! fuck FB marketplace

 

[spotanjo3]

Gamestop, shut it down.. Gamestop, shut it down! No more. End of GameStop, please!

 

[arcanine]

they are following donald trump’s lead “we have to reopen america, america wants to be open”. What he means is “the lobbyists who are paying me directly while not paying any tax are telling me they need the economy reopened so they can continue profiting from human suffering and environmental destruction, so fuck the health of hundreds of millions of people and the damage done to the planet, i want to further enrich myself.” it would not surprise me if he had a stake in the “healthcare industry” so millions of people getting sick and paying for treatment would be to his benefit anyway