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GameStop To Close Up To 225 Stores Worldwide

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MSim
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2017/03/27 12:58:24 (permalink)
https://www.gamespot.com/articles/gamestop-to-close-up-to-225-stores-worldwide/1100-6448966/
 

Following a year of lower-than-expected sales capped off by a disappointing holiday season, GameStop announced that it anticipates shuttering 2-3% of its stores worldwide in a recent earnings report. Based on this figure, up to 225 of the company’s 7,500 stores worldwide could be facing closure.
 
The retailer's fourth-quarter profits in 2016 had dipped by 13.6% since those from the prior year, prompting its stock to plunge by 31%. These losses were made in sales of both new games and new consoles, which GameStop attributed to "aggressive console promotions by other retailers on Thanksgiving Day and Black Friday," as well as "weak sales of certain AAA titles."
 

 
I predict this is only the beginning of more store closings.
 
 
 


 
#1

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    warrior10
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/03/27 19:57:13 (permalink)
    With a Stock plunge as huge as 31% plus over 13.5% in 2016, it's a sicking sign of the times to me of how bad people have gotten' to where it seems more people want to live in Caves, instead of getting out to do things in general. It is unfortunate and very very sad when all of these stores are gone. :((

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    #2
    VegetaCreeper
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/03/27 20:17:11 (permalink)
    eventually everything will be bought online - groceries included

     
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    #3
    MSim
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/03/27 22:09:17 (permalink)
    warrior10
    With a Stock plunge as huge as 31% plus over 13.5% in 2016, it's a sicking sign of the times to me of how bad people have gotten' to where it seems more people want to live in Caves, instead of getting out to do things in general. It is unfortunate and very very sad when all of these stores are gone. :((




    When its hard to find decent paying jobs, people don't have money to spurge luxury items. Look at all the retail stores closing nation wide, soon will see mall's start to close. We have fast food places switching to self-service ordering kiosks.
     
    Sears
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    What stores are left to attract people to malls.
     
     


     
    #4
    wmmills
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/03/27 22:25:39 (permalink)
    VegetaCreeper
    eventually everything will be bought online - groceries included


    That's pretty funny you say that. I was just telling my mom about these two kids that were filling the online orders for the store and they were kicking the cereal boxes and granola bar boxes to each each other to scan and put in the carts. After I saw that I was a little pissed and then after I thought about it a sec I said, well, I guess theyre no different than UPS and FedEx. Lesson learned, ill just never order groceries online though.

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    #5
    AzN-SoLjA
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/03/28 07:49:44 (permalink)
    Amazon killing the pre-order scene. 20% discount which is about $12 off on $60 games. Take my money...

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    #6
    repo1979
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/03/28 08:28:40 (permalink)
    Thats odd they are losing money, with how much they give you for games/systems you trade or sell to them then they turn around and sell it for more. But I for one no longer shop there due to that alone
    #7
    repo1979
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/03/28 08:28:41 (permalink)
    double post, sorry
    #8
    MSim
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/03/28 09:34:00 (permalink)
    repo1979
    Thats odd they are losing money, with how much they give you for games/systems you trade or sell to them then they turn around and sell it for more. But I for one no longer shop there due to that alone




    That is why people have turned to ebay, craigslist and facebook to sell used games and consoles.
     
     
     
     


     
    #9
    chrisdglong
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/03/28 10:15:02 (permalink)
    Finally! The end is near for Gamestop! 
    #10
    Sajin
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/03/28 14:27:15 (permalink)
    warrior10
    it's a sicking sign of the times to me of how bad people have gotten' to where it seems more people want to live in Caves

    Man caves are fun. 
     
    #11
    Dukman
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/04/01 09:28:15 (permalink)
    chrisdglong
    Finally! The end is near for Gamestop! 




    Sad to see people losing jobs, but not saddened to see GameStop taking it on the chin a bit.  
     
    I don't know how it is in other areas, but where I live I have three GameStops within a five mile radius.  Two of them are nearly on top of each other, so it's hard to see how those two stores dont cannibalize one another.
    post edited by Dukman - 2017/04/01 09:34:59

    Heatware



     
     
    #12
    chrisdglong
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/04/07 08:16:41 (permalink)
    Whenever I need something and have looked at Gamestop for purchasing it, I have always found a better option from a company that I would rather do business with. The problem with Gamestop is there business has FAR too many other options for them to have been shady over the years. 
    #13
    XrayMan
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/04/09 12:56:44 (permalink)
     
    Too much competition now. Especially from download places.

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    #14
    chrisdglong
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/04/10 07:57:07 (permalink)
    XrayMan
     
    Too much competition now. Especially from download places.


    That's really where I am. I no longer want a disk version of anything. I hate having a bunch of disks everywhere. I have also become spoiled with not having to go to the store to pick up a game...
    #15
    FattysGoneWild
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/04/10 11:12:38 (permalink)
    chrisdglong
    XrayMan
     
    Too much competition now. Especially from download places.


    That's really where I am. I no longer want a disk version of anything. I hate having a bunch of disks everywhere. I have also become spoiled with not having to go to the store to pick up a game...




     
    Haha me to man. I especially like "midnight" launches as the game just unlocks no line to stand in etc for the bigger titles. 

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    #16
    gipothegip
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/04/11 06:10:12 (permalink)
    I'm willing to bet part of it is the necessity of downloads these days. It's not pop in a disc, install, and done anymore. Quite a few games don't fit completely on disc either (and multiple discs isn't much of a thing anymore). That probably doesn't help the sale of hard copies. Anything small downloads quickly enough for most people, so a trip to the store isn't necessary in that case.
     
    As for hardware and consoles, I guess it's the convenience and competition available online. I still prefer physical stores for some things myself, but sometimes they don't have what I'm looking for, or they're somehow more expensive than Amazon or Newegg even with shipping.
     
     



    #17
    Tiffo60
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/04/11 06:25:21 (permalink)
    Sajin
    warrior10
    it's a sicking sign of the times to me of how bad people have gotten' to where it seems more people want to live in Caves

    Man caves are fun. 
     


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    crimz0n
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/05/05 14:27:26 (permalink)
    Id say I do still prefer having the physical media
    #19
    Hobiedamage
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/05/05 17:58:53 (permalink)
    Having worked in retail similar to gamestop, it is not surprising in the slightest.


    #20
    TRickeyG
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/05/05 18:23:43 (permalink)
    FattysGoneWild
    chrisdglong
    XrayMan
     
    Too much competition now. Especially from download places.


    That's really where I am. I no longer want a disk version of anything. I hate having a bunch of disks everywhere. I have also become spoiled with not having to go to the store to pick up a game...




     
    Haha me to man. I especially like "midnight" launches as the game just unlocks no line to stand in etc for the bigger titles. 


    I actually love everything that has to do with digital downloads except for the big midnight launches for the games I cared about the best being the Skyrim midnight launch where I met a lot of cool people to later isolating myself in my room for the rest of the year.
    #21
    crimz0n
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/05/05 22:00:20 (permalink)
    Hobiedamage
    Having worked in retail similar to gamestop, it is not surprising in the slightest.




    I have heard alot of negative things in working for and buying from Gamestop.
    #22
    KiriFate
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/05/06 17:10:42 (permalink)
    GameStop really need to try and focus more on collectables I feel. Most of the people I know but their games digitally, and the only reason any of them go to GameStop is for game related collectables like pixelpals of Funko pops.

    All except for one guy that is probably keeping GameStop alive by buying and selling back the same system to them over and over again. The guy actually bought an Xbox 360 from them 3 times and sold it back to them twice. They love him there.
    #23
    Hoggle
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/05/08 22:55:00 (permalink)
    Gamestop just isn't that fun to go into. I remember when people where talking about how the Xbox One games would come with a CD key and would be locked to your account forever. Really if it had of worked out that way I say good. No point driving across town selling a copy of a game for the used prices they would give you and driving back home. I personally would rather keep the game and enjoy when I buy the games having it the day them come out minutes after release.
     
    Management is to focused on making money to really understand why the company is failing the customers if you ask me and the staff inside the stores often don't look like they are in the store for more then a paycheck and how could you not have fun around that much gaming stuff? It's like the company found a way to suck all the fun out of it.

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    #24
    HiddenBladez99
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    Re: GameStop To Close Up To 225 Stores Worldwide 2017/05/16 04:57:09 (permalink)
    Blockbuster vs streaming services comes to mind. I think it's inevitable that digital content will all move onto digital web services.
     
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