Gamestop closing 120-130 stores, moving away from games

[Gahars]

It's looking like Gamestop may stop its game of being a stop for game enthusiasts. First step: Closing Gamestops.

Try to keep up.

GameStop expects the console gaming space to total $18 billion by the end of 2015, but the specialty retailer has its eyes set on markets much bigger than that. In a presentation at GameStop's 2014 Investor Day yesterday, CEO Paul Raines heralded the dawn of what he called GameStop 3.0, a new phase of the company's lifespan that will see it aggressively expand its footprint into gaming-adjacent tech fields.

The two biggest fields GameStop is pursuing right now are mobile and Apple devices. While it already buys back smartphones and tablets at its GameStop locations, the retailer is focusing more on stand-alone chains to do the same: the AT&T-branded chain Spring Mobile and Apple retailer Simply Mac.

At the same time GameStop is pushing into these new fields, the company plans to scale back its gaming operations slightly. In the current fiscal year, the company expects to shutter somewhere between 120 and 130 of its 6,457 gaming retail locations worldwide.

Games Industry International
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Gamestop 3.0: The "Point 0" makes it sound cool.

Before you start with the commenting and hooting and the hollering, this is not the death of Gamestop... not yet. Still, this sort of move suggests that the company might be less confident about their games business, though. Considering how pervasive online distribution has become, even on the consoles, it's easy to understand why.

I feel for all the Gamestop employees losing their jobs over this. They got Simply Mac and cheesed.

 

[Foxi4]

Brilliant strategy Gamestop! If I may, I'd like to point your attention to a recently discovered niche in the marked. Turns out Blockbuster's gone bust - the DVD rental business is unattended! Forget Gamestop, it's time for Moviestop, guys!

Cue Randy Marsh gifs.

 

[gman666]

Gamestop sold games? That's amazing!

 

[FAST6191]

I noticed Game in the UK had also shifted and now dealt in laptops, phones and tablets.

Anyway I wonder how much the sale of land and leases will net them. That said previous conversations and trips stateside have shown gamestop locations to be seldom be that far apart so I can see that too.

 

[the_randomizer]

They want to start selling Apple products? And here I was thinking what they sold before was overpriced

 

[Tom Bombadildo]

They were already starting to sell tablets and the what-not on their website, so it's not too surprising to see them really expand on it.

Also inb4GamestopButthurt

 

[Qtis]

In interested in seeing how far they can go against digital distribution and online retailers such as Amazon (and eBay). That's new and used for a fraction of the constant resources needed for brick and mortar..

 

[Wellington2k]

Two GameStop stores have already closed around me (one of which was still called EB Games before it became the Canadian branch). It's nice to see them making some changes, seeing as they're not as popular as they used to be. I just hope they don't go too far.

 

[WiiCube_2013]

If only CeX would do the same now.

 

[FAST6191]

If only CeX would do the same now.

I never use them but I have yet to hear properly bad things about them. Please do share any stories you have.

 

[Black-Ice]

If only CeX would do the same now.

But Cex DO deal in the other areas of media, quite well as far as I know.

I never use them but I have yet to hear properly bad things about them. Please do share any stories you have.

Cex generally is quite efficient, I've never had a problem with them and I use them a lot.

 

[The Real Jdbye]

I sure hope they don't shut down the one in my city. It's the only store around that consistently gets games on launch day.

 

[Haloman800]

Only a matter of time before GameStop goes the way of Blockbuster, unfortunately.

I never use them but I have yet to hear properly bad things about them. Please do share any stories you have.

How do you pronounce CeX..?

 

[Black-Ice]

Only a matter of time before GameStop goes the way of Blockbuster, unfortunately.




How do you pronounce CeX..?

Each letter individually
C, E, X

Rip in peace Blockbusters

 

[Warrior522]

Welp, looks like this is where the game stops.

...what?

 

[chrisrlink]

what will they call it now Smartstop?

 

[Tattorack]

Ok... so.......... um...... a shop that sells games, with the word "game" in their very name decides that they should focus now on other things besides... games?
Well... I suppose that makes a universe of sense....

 

[orcid]

I don't know the US shops. I only know that sometimes they have great preorder boni in the USA. Here they have only a few little shops with very high prices mainly in shopping malls. Even the used games are so expensive so that you can often get the game new for the same price in another shop in the same mall. If you want to sell games they offer ridicucous low prices. For my sake they can close all their shops here.
I don't think that they will have succes changing their shops here. There are lots of little shops which sell and buy used mobile phones and games. (Ok, often these shops are a little bit shady.)

 

[KingVamp]

Might have to get my used games from Walmart. Blockbuster is changing their game plan too. They aren't out just yet. (Streaming)

I know they have to follow the times, but it's annoying and too early.

They probably should just change to "TechStop".

 

[GameWinner]

Sad. I like the GameStop right next to my house.