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How much longer will Gamestop last?
- Thread started by Demon_Skeith
Buying old cell phones or cell phone models is bad in the modern world. Old Cell phone had lot of crap in the system and the battery too under drainage so they can't lost or can't respond properly. I would suggest look for an alternative which perform better for gaming.
If a game need minimum 256mb Ram, then choose more than 1 GB ram model for old cell phone that will run perfectly and lasts longer.
If a game need minimum 256mb Ram, then choose more than 1 GB ram model for old cell phone that will run perfectly and lasts longer.
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they aren't using them for gaming, but selling them off to other countries.
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I don't know how much longer they will last. I haven't been inside one in a long time.
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Even The Know is bringing them down:
I still go to Gamestop regularly, and I still stand by the fact that they shouldn’t have so many store locations in the same town. Does there need to be several stores within a mile or two of each other? Does there need to be two across the street from each other, or two inside the same mall?
I think it’d be better in cities where they consolidated them to just a couple larger stores. I always get annoyed with their inventory practices in cities, cuz they will spread their stuff out between stores, “oh, we don’t have it, the store across the street does”. When I lived in towns that only had one store, they always had the best stock.
I think it’d be better in cities where they consolidated them to just a couple larger stores. I always get annoyed with their inventory practices in cities, cuz they will spread their stuff out between stores, “oh, we don’t have it, the store across the street does”. When I lived in towns that only had one store, they always had the best stock.
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I got a feeling Gamestop can last for many more years since many internet service providers don't have very fast download speeds needed for fast downloads of games and DLC.
I think Gamestop can last longer if the economy gets better, and people had more money for games, game consoles, and gaming related products like action figures of video game characters.
Buying old cell phones is not that bad of an idea since a lot of people have old cell phones which they want to sell, but maybe too lazy to sell on eBay, Craigslist, Amazon marketplace, and pawn shops.
I think Gamestop can last longer if the economy gets better, and people had more money for games, game consoles, and gaming related products like action figures of video game characters.
Buying old cell phones is not that bad of an idea since a lot of people have old cell phones which they want to sell, but maybe too lazy to sell on eBay, Craigslist, Amazon marketplace, and pawn shops.
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So you must know the workers then? What is their take on the situation?
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I feel the Coronavirus outbreak will harm Gamestop's buisness if people no longer feel safe shopping in smaller size stores with many people looking for games to buy, and touching things in the store where people can get infected with the Coronavirus.
Some people may not go out to buy games at a retail store until there are fewer new cases of the Coronavirus, and a cure for the Coronavirus. I'm not sure if Gamestop can last many months to years of being closed until the Coronavirus is under control, and the government can prove to people who are scared of the Coronavirus that going out is safe to do again, and the cure for the virus worksat curing them.
Some people may not go out to buy games at a retail store until there are fewer new cases of the Coronavirus, and a cure for the Coronavirus. I'm not sure if Gamestop can last many months to years of being closed until the Coronavirus is under control, and the government can prove to people who are scared of the Coronavirus that going out is safe to do again, and the cure for the virus worksat curing them.
Just read from gamesindustry biz:
In its quarterly financials, the company posted net sales of $942 million, down 27% year-over-year.
GameStop attributed the ongoing declines to unsurprising factors -- the ending of the console cycle, limited availability of hardware and accessories, a 13% reduction in total store operating days due to COVID-19, and a 10% reduction in the store base as part of its restructuring.
Broken down, hardware and accessory sales accounted for $441 million, software sales at $386 million, and collectibles at $114million.
The company said that despite widespread store closures over the last year, it has recaptured almost 40% of closed store sales through transfer to neighboring stores and online, and noted in its report that global e-commerce sales were up 800% year-over-year -- likely bolstered by pandemic-related lockdowns.
GameStop posted a net loss of $111 million, which is technically an improvement year-over-year from Q2 2019's net loss of $415 million.
However, during its Q2 financials last year, GameStop noted that its deep losses posted that quarter were dramatically impacted by impairment charges totaling $401 million, making its adjusted net loss for the period $32 million.
Meanwhile, this quarter saw an adjusted net loss of $91.2 million -- which is nonetheless better than Q1 of 2020's net loss of $165.7 million, when the majority of the company's stores were closed for a portion of the quarter.
In its quarterly financials, the company posted net sales of $942 million, down 27% year-over-year.
GameStop attributed the ongoing declines to unsurprising factors -- the ending of the console cycle, limited availability of hardware and accessories, a 13% reduction in total store operating days due to COVID-19, and a 10% reduction in the store base as part of its restructuring.
Broken down, hardware and accessory sales accounted for $441 million, software sales at $386 million, and collectibles at $114million.
The company said that despite widespread store closures over the last year, it has recaptured almost 40% of closed store sales through transfer to neighboring stores and online, and noted in its report that global e-commerce sales were up 800% year-over-year -- likely bolstered by pandemic-related lockdowns.
GameStop posted a net loss of $111 million, which is technically an improvement year-over-year from Q2 2019's net loss of $415 million.
However, during its Q2 financials last year, GameStop noted that its deep losses posted that quarter were dramatically impacted by impairment charges totaling $401 million, making its adjusted net loss for the period $32 million.
Meanwhile, this quarter saw an adjusted net loss of $91.2 million -- which is nonetheless better than Q1 of 2020's net loss of $165.7 million, when the majority of the company's stores were closed for a portion of the quarter.
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I'm sure Gamestop will hang on for another 10 years, but their end is in sight. Granted, I pulled everything out, cut up my card and going back to a local retailer in my area.
And they are planning to close even more stores:
GameStop continues to up the number of stores it says it's going to close this year, with the latest plan being to close between 400 and 450 stores globally during the full fiscal year of 2020.
In today's Q2 earnings call with investors, CFO Jim Bell said that GameStop had closed a total of 388 stores worldwide so far this year, 206 of those closures occurring during Q2.
GameStop continues to up the number of stores it says it's going to close this year, with the latest plan being to close between 400 and 450 stores globally during the full fiscal year of 2020.
In today's Q2 earnings call with investors, CFO Jim Bell said that GameStop had closed a total of 388 stores worldwide so far this year, 206 of those closures occurring during Q2.
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Gamestop as we know it is dead. The 50/50 stores are converting at an alarming rate.
The short term profits they'll gain from all the collectible sales will inspire more growth into that sector, more and more stores will straight up close to be replaced by thinking geek stores.
When people stop buying loot, (which will happen) then the employees will be blamed for not creating value to our guests and as they continue to motivate people with the stick instead of the carrot (neither is good) then you'll see more and more people advance their "careers" at Gamestop via "field promotions" to fill the gaps made by good talent leaving for something better. Unfortunately, that translates to a lot of people as a great place for shitty employees to be successful. Pretty soon all the employees are under-qualified and poorly trained. Corporate always flip-flops on what's important to drive the business, and their decisions will be harder to implement in stores due to lack of talent. Their initiatives, which look good on paper, will fail because of this. Then there's a mad dash to change once again to make up for the lost time and profits and then of course you see even the shitty employees figure out it's just not worth it. They are then replaced by the children who grew up worshiping Gamestop and would do ANYTHING to work for them. The cycle continues to get worse.
The short term profits they'll gain from all the collectible sales will inspire more growth into that sector, more and more stores will straight up close to be replaced by thinking geek stores.
When people stop buying loot, (which will happen) then the employees will be blamed for not creating value to our guests and as they continue to motivate people with the stick instead of the carrot (neither is good) then you'll see more and more people advance their "careers" at Gamestop via "field promotions" to fill the gaps made by good talent leaving for something better. Unfortunately, that translates to a lot of people as a great place for shitty employees to be successful. Pretty soon all the employees are under-qualified and poorly trained. Corporate always flip-flops on what's important to drive the business, and their decisions will be harder to implement in stores due to lack of talent. Their initiatives, which look good on paper, will fail because of this. Then there's a mad dash to change once again to make up for the lost time and profits and then of course you see even the shitty employees figure out it's just not worth it. They are then replaced by the children who grew up worshiping Gamestop and would do ANYTHING to work for them. The cycle continues to get worse.