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.

Source

 

[FAST6191]

The selfish assholes in here happy people are losing their jobs is pretty sad.

Are there any people in here saying they are happy people are losing their jobs? Or is it we are supposed to softly tread around an area in which someone might have lost a job now?

On the other hand if the best thing you can say about a company is it is a job provider, and worse in this case a low/no skilled retail one,

 

[John256145]

The Gamestops I've been to haven't even been that great anyways...

 

[Bimmel]

Even if I don't like Gamestop, I feel very sorry for the people who worked there.

 

[Dr.Hacknik]

Didn't they stop selling/buying GBA games when the 3DS came out, like 5 years ago?

Last time I checked, yes. That was a long time ago. So, yes~ They have stopped selling GBA games, but they still sell a small amount of DS games.

 

[03bgood]

God, I hate the future! I really hope I don't live well into the future when everything is like the fucking Matrix!

 

[LunaticJ]

God, I hate the future! I really hope I don't live well into the future when everything is like the fucking Matrix!

Wut

 

[03bgood]

Wut

Everyone shops online, instead of going to stores, it's scary. I'm fine with everything going digital, but having stores close because of shit like Amazon and Netflix, really worries me! Now I know how the baby boomers felt in the 80s and 90s, when they saw stuff that was reverent in the 50s, 60s, and 70s no longer being relevant, due to newer technology.

 

[JFlare]

Its a disappointment that's for sure... I just hope they don't close the ones near me, cause the ones I live near always have what I'm looking for.

 

[03bgood]

I just hope the one in the Terre Haute Honey Creek Mall will still be open. Going with my sister tomorrow to see the new live-action Beauty and The Beast film, I'll have to check that GameStop.

 

[DarkRioru]

I just hope the one in the Terre Haute Honey Creek Mall will still be open. Going with my sister tomorrow to see the new live-action Beauty and The Beast film, I'll have to check that GameStop.

I just hope the one in paso robles,CA is still open... I do most of my purchases of physical copies there...

 

[Captain_N]

Karma is a bitch huh gamestop. All that crap you do thinking its not gonna catch up with you...
When they used to take in nes and snes games they would purposely destroy the boxes and the books. They Claim "we dont have the space". All Lies like a folded snes box takes up space. Hoe about a bin out side called free or gee sell the box for $2. I have a friend and he used to work at gamestop at the tail end of this period. He used to be able to get me great stuff they were supposed to destroy. SO yeah its true.

When gamestop started selling all the pops shit and the figures i knew they were taking a hit. Half the store is figures that are overpriced. Those that buy digital are not gonna go to gamestop to buy a download code. And you cant return a digital game so there goes their main money maker. Your days are numbered game stop. This closing of stores is just the beginning. what we have to do is find where they are and make friends with the employees and then get free stuff. Perhaps after they bust well see a real game store.

Perhaps soon i can open mine. Imagine a store that sells all modern stuff on one side ad every retro console on the other. And i will be repairing computers, consoles and phones to help with the profits. I just need about 1 million dollars to buy the building and the inventory. I will buy whole collections on ebay for my inventory.

 

[elBenyo]

Good fucking riddance. I only hope they file bankruptcy and no one buys the company.

 

[SilleyDoggo]

I really hope Gamestop doesn't phase out of existence. I really like my local Gamestop, the employees there are nice, and just pretty cool people, and I sometimes go there just to talk to them. They are just normal people trying to get by.

 

[leon315]

This is the end, glad that thief-stop finally get s stopped

 

[TheTechGenius]

They knew this was coming. Blockbuster had to close down due to streaming services and getting movies digitally.

They are just in denial. Technology is always moving forward, at a very very fast pace. Do they really think technology is going to take a leap backwards, or just stop? Most Hard drives are dirt cheap now a days, you can get pretty big hard drives for next to nothing, internet speeds are getting higher and higher, even though the prices are getting to be insane, but the speeds are there, so digital game distribution will only get better, and more and more people will make the switch over to buying digital.

Why? Because it's so damn convenient.

Why buy a physical game from gamestop, then if you don't like it or want to trade it in a few weeks later, they will give you a very small fraction of what you paid for it. Because that is thier main source of profit, so they lower the value of trade ins, only to turn around and sell the used game for $5 less then a new copy, when they just gave you $15 for the game, they turn around and sell it for $55. lmao.

That's one of the reasons why they are loosing business. Because they are greedy. I can't even remember the last time I went to gamestop. I hate gamestop, I hate their shady business practices.

 

[Jayro]

I will NEVER switch to a digital library, beyond Steam for PC.

 

[TheTechGenius]

I will NEVER switch to a digital library, beyond Steam for PC.

How come? If I may ask?

 

[FAST6191]

How come? If I may ask?

The option to resell games, lend them to your friends, drag it round your friend's house for an evening, all either lacking or significantly harder than a) doing it with a disc/cart or b) what I could theoretically do with a file and a USB drive or something.
The day I can treat it like a MP3 file or something I imagine things will change but "digital" games still seem to be stuck in a DRM rut.

I hate gamestop, I hate their shady business practices.

I don't find their game practices that shady. Hearing their employees speak they have many of the traits of lesser retail shops but at this point that is just retail. I don't reckon they represent a good deal but they do what they say they are going to do rather than trying to cloak it.

 

[H1B1Esquire]

One good reason to not do the digital thing, you don't actually own what you bought. To add to that, how can you re-sell a digital item after you've redeemed it?

On a different side, take the case of Sonic Forces--if you pre-order, you get a controller skin and sure, they could mail you a physical reward for a digital purchase, but they probably won't because that's more money for postage and someone has to pay for that. Until digital prices become half of what the physical is or give free DLC, is there any real incentive in not getting a physical copy? Personally, I collect every piece of gaming that I buy because I know people will buy it later. If you don't believe me, check out ebay listings for "empty amiibo boxes."

As for G$, they'll be okay when they get a new gimmick rolling. I have an idea to boost sales, but the bastards only want to give me 35% of what its worth.

 

[Captain_N]

Karma is a bitch aint it gamestop. I know they supplement their income with all the figures and collectibles. More then half the store is figures. Id like to see more games. I'm tossing a party the day they go out of business.