GameStop to close up to 190 stores

Discussion in 'GBAtemp & Scene News' started by Chary, Mar 26, 2017.

  1. Chary
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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.

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  2. James310

    James310 GBAtemp Advanced Fan

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    Blockbuster all over again....
     
  3. CreAtor135

    CreAtor135 GBATemp's #1 Nothing

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    Haha rip, though I really shouldn't be laughing. I just have a deep rage for Gamestop's awful consumer service.
     
  4. jimbo13

    jimbo13 GBAtemp Fan

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    It's not like they didn't know this was coming, they have had a decade+ to diversify and find new outlets/models.

    What did they do? Double down on gouging used sales, try to upsell obnoxious subscription shit most people don't want even pitched and buying games just to destroy them trying to up nostaligia/retro-markets.

    Good riddance.
     
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  5. RevPokemon

    RevPokemon GBATemp's 3rd Favorite Transgirl

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    I wonder what they will do in order to stay relevant in the world of digital game purchases? I know my local one has dedicated a good portion of the space to game memorabilia, so perhaps this will be part of a new strategy? Anyway, if RadioShack is still around then maybe Gamestop can make it once physical games go the way of the dodo....
     
  6. Wii8461

    Wii8461 Member

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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.
     
  7. Dr.Hacknik

    Dr.Hacknik Maniac | Dev | A Fellow (lewd) Megumin

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    Damn, I love going to GameStop to get old retro games. Like for the GBA or DS.
     
  8. RustInPeace

    RustInPeace Samurai Cop

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    I didn't swing by a closing Blockbuster unfortunately, but I did go to a closing Hollywood Video store, in 2008, oddly enough. That was budget movie spending heaven, but I didn't capitalize, only having $10 or so on me, and buying a $2.50 DVD of The Brothers Solomon. The point I'm making is that if Gamestop goes the way of those stores, I expect liquidation sales to die for.
     
  9. jimbo13

    jimbo13 GBAtemp Fan

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    They could of went in tangible games/books/cards, warhammer stuff etc while keeping the game business and did more event stuff at the stores for one.

    They should of just migrated towards tangible stuff like shirts & interesting novelty stuff that appeals to gamers.

    High-end specialty peripherals in store, Fight sticks, light guns, wheel sets would of been a nice start (They don't carry anything I can't grab at walmart).
     
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  10. Sonic Angel Knight

    Sonic Angel Knight GBAtemp Legend

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    I knew this was coming. Well.... so long! :(
     
  11. zoogie

    zoogie simple pimp tool

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    They have been diversifying. They bought thinkgeek, for instance.
     
  12. DinohScene

    DinohScene Capture the Dino

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    Oh, that's kinda surprising to see.
     
  13. Chary
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    I still cringe when I think that when both blockbuster and Hollywood video closed, I only bought one item apiece. Regret forever.

    That's not much to show for a decade of diversifying, not to mention Geeknet, the main company, is also on the decline, too.
     
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  14. zoogie

    zoogie simple pimp tool

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    Thinkgeek is just the tip of the iceberg, just an example.

    This is from two years ago, they've been trying to pivot away from physical game sales for a good while.
    https://www.bloomberg.com/news/arti...acquisition-plans-in-push-to-diversify-stores
     
  15. Sonic Angel Knight

    Sonic Angel Knight GBAtemp Legend

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    Look, they been doing very small things to keep people interested but is just bad. I dunno what the main problem was, reselling games or the pro subscriptions to the magazine and discounts. Not to mention costing more for making disc/carts than digital only. Still it be a same i have to go to best buy for new consoles now instead of a game store, and the pre orders, and midnight release. But again, digital content is making headway, even if it is cloud based gaming subscriptions I DON'T USE.

    I wanted to bring this up in a thread i was gonna make on my own about the cost of gaming but i guess perhaps is appropriate to share now? Basically is just some information about games, how they cost and the various situations that cause potential risk. Anyway the youtube channel i got the videos from have just been reporting news about gamestop bad reputation getting worst so is not news to me. Some are over 2 years long.

    Warning: Spoilers inside!
     
    Last edited by Sonic Angel Knight, Mar 26, 2017
  16. FAST6191

    FAST6191 Techromancer

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    So I will now have to go 3 blocks rather than 2 to find a shop? Horrifying.

    Got any more on that? This would be the first I am hearing of such things and I do try to keep on top of the continuing adventures of gamestop.

    You expect physical games to vanish? Only way I see that happening is for resale of keys to be allowed and I doubt I will see a workable version of that any time soon.
     
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  17. jimbo13

    jimbo13 GBAtemp Fan

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  18. astrangeone

    astrangeone GBAtemp Addict

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    There are three EBGames/Gamestops within walking distance of my house. Four, if you count the one in the "big" mall/tourist mall in my town. I don't mind them, my local EBGames actually hosts two really cool employees that help out a lot. (I got my refurbished Wii U from them and I mentioned BoTW (as that was my reason to purchase it.), and he mentioned that the physical game is very very hard to find, as well as giving me the Silver Edge card to get me the discount.)

    Mostly the EBGames have turned into a Funko Pop, collectibles thing. They even have a huge supply of tee shirts (which I rarely buy because there's a discount warehouse near my aunt's house that has them for $10 only). Most video game stores seem to be dying (went to a local Mum/Pop one for their going out of business sale, and got six games for $40.). Hell, my local HMV finally went under, despite trying to pick up business with a huge amount of collectibles. Seriously, about 75% of the store turned into collectibles and fandom stuff.

    And the one in the mall seems not to have good security. No sensor towers, no tagging of items, and close to one of the exits. Seriously, even the Spencers in the same mall has hard wire tags/sensors on their wallets....I dunno how they survive with that level of "security", because people can easily walk off with a $20 plush.
     
    Last edited by astrangeone, Mar 26, 2017
  19. Xzi

    Xzi Console Hacker and PC Gamer

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    Only 190? Alright, who's been shopping at Gamestop still and keeping them afloat? Be honest.
     
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  20. chartube12

    chartube12 GBAtemp Psycho!

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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.