Other Gamestop Reports A Loss of US$ 488.6 Million

[cm2]

Just read from gamesindustry, dualshockers and Ign, that's a lot of loss:

The company reported a net loss of $488.6 million for the quarter, far from the $59.4 million net profit it posted the year before.

Pre-owned sales were down 13.4% compared to previous quarters, which is a heavy part of GameStop’s business. However, despite the loss in the third quarter, new hardware sales were up. especially for the sales of the Xbox One X and PS4 at 12.8% and software sales increased by 10.9%. Accessories also saw an increase of about 32.6%.

Rob Lloyd, chief operating officer and chief financial officer at GameStop said the growth in software sales can be attributed to huge titles such as Red Dead Redemption 2 and Marvel’s Spider-Man.

“Notably, software sales benefited from a compelling title line-up compared to last year, including strength from Red Dead Redemption 2 and Spider-Man, as well as the earlier launch of Call of Duty compared to last year. We are especially pleased with our performance in October, a month where The NPD Group disclosed that the U.S. physical video game industry grew by 46% while our U.S. physical video game revenue outpaced the industry and increased 63% resulting in market share gains.”

 

[Demon_Skeith]

Ouch, people's heads are going to roll at the company.

 

[froggyboy604]

It is unfortunate that physical games stores are not doing well. I think most people buy games from Amazon, and Department stores like Wal-Mart when they buy their clothes and groceries at a Department store.

 

[Demon_Skeith]

It is unfortunate that physical games stores are not doing well. I think most people buy games from Amazon, and Department stores like Wal-Mart when they buy their clothes and groceries at a Department store.

I would go to best buy, but since I work now it be hard to get there and beat the lines.

 

[froggyboy604]

I would go to best buy, but since I work now it be hard to get there and beat the lines.

Is the game selection at Bestbuy good?

I feel Bestbuy may not have less popular games because they also use their store's space to sell things like tvs, fridges, movies, and PCs, so they may not dedicate a lot of space for games.

 

[Demon_Skeith]

Is the game selection at Bestbuy good?

I feel Bestbuy may not have less popular games because they also use their store's space to sell things like tvs, fridges, movies, and PCs, so they may not dedicate a lot of space for games.

I have no idea why I typed bestbuy, but I meant gamestop. Also bestbuy does have a moderate game section.

 

[froggyboy604]

I have no idea why I typed bestbuy, but I meant gamestop. Also bestbuy does have a moderate game section.

I rather visit Gamestop as well for buying games. The amount of games at Gamestop is larger than Bestbuy.