Baird Equity Research Report Calls Speculation on Used Games Restrictions 'Misguided'

March 21, 2013 -

A research report on GameStop from equity research firm Baird Equity Research predicts that the games retailer will miss estimates for Q4 earnings. The company is set to release Q4 earnings next Thursday, along with initial guidance for fiscal year 2013. Baird Equity points to weak hardware sales and software prices that are " under pressure." GameStop could see a boost from the next Xbox announcement, the E3 trade show in June and launch of new hardware in the fall, according to the firm.

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Former GameStop VP Sentenced to 51 Months in Federal Prison for Embezzlement

March 12, 2013 -

A former executive from GameStop's Texas division has been sentenced to 51 months in prison for embezzling $1.7 million from the company by setting up a shell company, according to an announcement by the U.S. Attorney's Office. Frank Christopher Olivera, the now former Vice President of corporate communications and public affairs at GameStop Texas was convicted this week.

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GameStop to Close 250 Stores in 2013

February 13, 2013 -

During its part in the recent Goldman Sachs Technology and Internet Conference, video game retailer GameStop revealed that it plans to close 250 retail stores in 2013. CFO Rob Lloyd said that the company would close unprofitable and marginally profitable stores and shift customers to retail stores that are "nearby" those locations. Of the 250 closures, around 200 of those stores are in the United States.

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GameStop Executive: Blocking Used Game Sales Will Hurt Next-Gen Console Adoption by Consumers

February 7, 2013 -

Speaking to Bloomberg GameStop VP of public and investor relations Matt Hodges said that the consumer's desire to purchase a next-generation console will be "significantly diminished" if manufacturers were to block the ability to play used games.

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GameStop Holiday Sales Fall 4.6 Percent

January 8, 2013 -

Video game retailer GameStop revealed that sales for the last nine weeks of 2012 came in at $2.88 billion, a 4.6 percent decrease from the 2011 holiday shopping season. The retailer blamed a lack of in-store traffic as the primary cause. Second-hand sales were also down 15.6 percent because of limited inventory, according to GameStop. New game sales were also down by 5.1 percent, while hardware numbers were down 2.7 percent.

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Kindle Fire Now Available at GameStop Stores Nationwide

December 7, 2012 -

Perhaps realizing that to compete with the Samsungs and Apples of the world in the tablet market it needed to expand its reach beyond its own website, Amazon is now offerings its Kindle Fire devices at GameStop. GameStop is now selling the Kindle Fire tablet at their retail stores and is offering a nifty promotional $25 Amazon.com gift card as an incentive. The device is available now for $199.99 in all 4,400 U.S. GameStop stores. The Kindle Fire HD and 7" versions of the tablet are also available in select stores.

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GameStop Records $624 Million Net Loss in Q3

November 15, 2012 -

Video game retailer GameStop announced that it suffered a $624 million net loss in revenue for the third quarter that ended on October 27. While GameStop said that results exceeded expectations for Q3, it highlighted the fact that sales were down on new software, used software and new hardware. Total sales fell approximately 8.9 percent to $1.77 billion while store sales also fell 8.3 percent. Overall, GameStop recorded a consolidated net loss of $624.3 million.

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Former GameStop PR Head Pleads Guilty to Embezzling $2 Million

November 5, 2012 -

A former high ranking executive at retailer GameStop has pled guilty to embezzling $2 million from the company. According to a federal indictment filed on Friday, former vice president of corporate communications and public affairs for GameStop Chris Olivera diverted a couple million from the company into a personal business account. Olivera was able to do this, the indictment claims, because he processed invoices from vendors.

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GameStop Opening 'GameStop Kids' Stores Nationwide

October 26, 2012 -

Video game retail giant GameStop is rolling out new stores geared towards younger children in North America this week in select locations. The new stores are called GameStop Kids. GameStop plans to open 80 GameStop Kids locations at malls in the United States during the holiday season.

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GameStop Offers Wii U Waiting List, But Only for PowerUp Rewards Members

September 26, 2012 -

Yesterday we reported that retailer GameStop halted its pre-orders for both models of Nintendo's Wii U console. Today the retailer wants those who didn't get in on the action to get in on a waiting list. The problem is it's only for PowerUp Rewards members. A cynical person would suggest that this is all some clandestine plan by GameStop to boot its PowerUp Rewards membership numbers.

From the FAQ:

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GameStop Halts Pre-Orders for Wii U

September 25, 2012 -

If you haven't had the chance to pre-order the Wii U and were planning on heading over to Gamestop.com to sign up, you can forget about it for the time being. GameStop has stopped taking pre-orders for both version of the upcoming console as of yesterday. While there are likely retailers out there taking pre-orders still, it is curious that the world's largest games retailer would stop so quickly after opening them up late last week.

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GameStop: Vintage Game Sales Will Be 'Online Only'

September 10, 2012 -

In a recent interview with Joystiq, GameStop CEO Paul Raines clarified a recent story about plans to sell vintage games and systems at retail stores throughout the United States.

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GameStop: We Will Probably Stock OUYA

September 7, 2012 -

GameStop CEO Paul Raines tells Joystiq that it will likely stock the OUYA console in its stores when it launches in 2013.

"We will be a part of any console launch in the future," he told Joystiq. "We think Ouya's cool. We love the idea of open-source components. Everything we've read is great."

"There will be games developed for that stuff. So you're going to see more of these open source type products, and we will be right in the middle of all of it."

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GameStop: Selling the Classics

August 30, 2012 -

According to a report on Polygon, video game retailer GameStop is seriously considering including a destination inside its retail stores specifically for shoppers looking to purchase classic game cartridges and discs that are no longer being carried by most retailers.

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GameStop Makes Top Ten List of Worst Companies to Work For

August 13, 2012 -

I am not sure if GameStop is one of the top ten worst companies to work for in the United States, but analyst firm Glassdoor does. Glassdoor lets employees rate the company's they work for, and apparently GameStop employees voted for the company enough to push it in at number ten on their list. Employees that contributed to the study say that GameStop puts too much of an emphasis on high sales and doesn't provide enough attention to customer service.

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GameStop: 70 Percent of Used Game Sales Profits Are Spent on New Games

August 6, 2012 -

While some game publishers and developers have come out hard against the sale of used games, GameStop's president Paul Raines says that the myth that used games are cutting into new game sales is just - a myth. Speaking to Gamasutra, Raines said that 70 percent of all income derived from used game sales by consumers is almost immediately spent on purchasing a new game - to the tune of $1.8 billion to the US games industry every year.

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GameStop Investigating Digital Used Game Sales in Europe

July 27, 2012 -

GameStop is apparently paying close attention to the recent decision by the European High Court that digital purchases could legally be resold. Speaking to GameSpot, GameStop CEO Paul Raines said that the video games retailer is seriously looking into the idea of creating a business out of reselling digital downloads in Europe, but cautions that it is too early for him to say if it is something they will get into. At this point the company is simply investigating the idea.

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GameStop Offers 30 Percent Bonus to Trade-In Cash Used to Purchase Steam Gift Cards

July 13, 2012 -

If you would prefer to spend your hard-earned cash on digital goods but also want to trade-in some of your used games too, then GameStop is offering a deal worth mentioning. For the remainder of Steam's massive summer sale trade-ins at GameStop will net you an additional 30 percent in value if you put that credit towards the purchase of a Steam gift card. The deal runs until July 23.

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GameStop: Next-Gen Consoles Will Allow Used Games

June 6, 2012 -

Despite all the talk about a next-generation console future where consumers are not allowed to play their used games by evil platform holders like Microsoft and Sony, retailer GameStop says that such a future is unlikely. The video game retailer firmly believes that the next generation consoles from both Sony and Microsoft will handle the business of retail trade-ins and used game sales the way they always have - by mostly ignoring them. The company made its remarks during an investor meeting with analyst firm Baird Equity Research.

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GameStop Brings PSN DLC Purchasing Power to Stores in Europe and Australia

June 1, 2012 -

GameStop International and Sony Computer Entertainment Europe have partnered to bring PlayStation Network DLC to 1,600 retail video game stores throughout Europe and Australia. This includes stores in Australia, New Zealand, France, Italy, Spain, Germany, Austria, and Switzerland. Consumers can purchase downloadable content in stores using cash, gift cards, and in-store credits from trade-ins to buy the DLC.

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GameStop: Physical Retail Numbers Down, Digital and Pre-Owned Up in Q1

May 17, 2012 -

Video game retailer GameStop announced its first quarter 2012 financial results this week, showing that physical retail numbers were down, while used games and digital sales were up. While the company saw a decline in overall net income and sales for the quarter, its reported income was in line with earnings targets.

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Report: Steam Cards in GameStop Stores Next Week

May 11, 2012 -

According to a C&VG report games retailer GameStop will begin stocking Steam cards May 15 in a majority of its U.S. stores. The idea of having a retail card is that it gives those who do not have a credit card the ability to put cash towards a card they can use to buy games on Steam.

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GameStop Settles California Used Games Class Action Lawsuit

April 10, 2012 -

Law firm Baron and Budd has reached a settlement agreement with GameStop over DLC. The firm filed a class action lawsuit against the video game retailer over DLC and labeling related to used games. In the United States District Court for the Northern District of California, Senior District Judge Thelton E. Henderson entered an order approving a class action settlement Baron and Budd reached with GameStop.

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GameStop Signs Digital Distribution Deal with Blizzard

March 23, 2012 -

GameStop is banking on a new deal with Blizzard that it hopes will shore up its digital sales over the next several years. The deal will see GameStop offer customers the ability to buy games and digital goods for Blizzard games in the retailer’s stores in the U.S. and other regions. Diablo III, coming May 15, will be the first game sold via download codes in the stores.

Next Xbox with Anti-Game Technology Unlikely, Says GameStop

March 22, 2012 -

During a conference call to discuss its latest results, US video games retailer GameStop tried to put to bed a rumor (that surfaced in January) about the next Xbox console from Microsoft would have some kind of anti-used game detection technology in it. GameStop's CEO tried to put the rumor to bed, calling the whole idea "unlikely."

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GAME's Options Moving Forward

March 22, 2012 -

MCV writer Christopher Dring runs down the list of companies that might be able to pull troubled UK games retailer GAME out of its financial troubles. The names thrown around in his article include private investment firm OpCapita, US-based retailer Walmart, US-based games retailer GameStop, and retail restructuring firm Hilco. Along with listing all the reasons these companies might have an interest in buying GAME, the article lists all the reasons what harm such deals could do to the retailer.

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Kongregate: One Year After GameStop Purchase

March 16, 2012 -

Speaking to GamesBeat, Kongregate co-founder Jim Greer says that life has been good for the indie gaming portal and social network. Greer tells VentureBeat that Kongregate doubled the number of virtual goods-based games on the site and has managed to triple virtual goods revenue in the last year. He claims that those virtual goods sales now make up 80 percent of the site's revenue.

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Report: Australian Stores Holding Up a GameStop Acquisition of GAME

February 29, 2012 -

According to an MCV report that relies on anonymous sources, GameStop is interested in buying troubled UK games retailer GAME, but doesn't want to buy the stores in Australia because it conflicts with the business operations they already have there with EB Games. GameStop runs 6,627 stores in 17 territories, which includes a number of Australian EB Games stores it took over after the 2005 merger with retailer Electronics Boutique.

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GameStop Closes Northern Ireland Stores

January 24, 2012 -

According to a report from MCV, U.S. games retailer GameStop has closed down stores in Northern Ireland this week. The company had three stores in the region, and why it has decided to close them down is unknown at this time. According to web site TheGamingLiberty, employees were told about the closures on January 22.

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GameStop Declares iOS Trade-In Program a Smashing Success

December 28, 2011 -

In a press release issued this morning video game retailer GameStop trumpeted the success of its iPod, iPhone and iPad buy-back / trade-in program. The company claims that in the months since it began accepting trades on iOS devices, it has seen "strong consumer enthusiasm for the program." GameStop customers trading in an iPod Touch get up to $180 in cash or in-store credit, up to $300 for an iPhone, and up to $400 for an iPad.

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ZippyDSMleehttp://www.afterdawn.com/news/article.cfm/2014/07/19/ruling_aereo_is_not_a_cable_company07/22/2014 - 8:13am
ZippyDSMleelul what?07/22/2014 - 7:53am
ZippyDSMleehttp://arstechnica.com/gaming/2014/07/bungie-cross-generation-destiny-wouldnt-be-fair-to-low-res-players/07/22/2014 - 7:53am
MaskedPixelantehttp://www.joystiq.com/2014/07/22/wii-u-update-adds-system-to-system-transfers/ The latest Wii U update allows you to do the system transfer between two Wii Us. Still not true accounts, but getting there.07/22/2014 - 7:39am
Papa MidnightSpeculation from PC Gamer. Don't hold your breath. http://www.pcgamer.com/2014/07/21/microsoft-job-listing-says-nice-things-about-pc-gaming-isnt-clear-if-it-means-them/07/21/2014 - 5:58pm
MaskedPixelanteI dunno, it's probably Vevo powertripping.07/21/2014 - 5:52pm
Andrew EisenMP - Makes you wonder what the intention behind the removal was. Stop the RickRolls? Yeah, like removing that one video is going to make a difference.07/21/2014 - 3:27pm
MaskedPixelantehttp://www.billboard.com/articles/business/digital-and-mobile/6165313/youtube-blocks-original-rickroll-video Moment of silence, the original Rickroll video has been blocked in many regions.07/20/2014 - 3:53pm
PHX CorpUseless DLC news: Killzone Fart Pack http://ps4daily.com/2014/07/killzone-fart-dlc/07/20/2014 - 12:56pm
MaskedPixelantehttps://www.youtube.com/watch?v=uU1mK2ig_GU They did their research beforehand.07/19/2014 - 4:41pm
Sleaker@james_fudge - are you sure the FCC can pick and choose? the general rules I read as passed in the act don't really indicate that, but I didn't read through the entirety.07/19/2014 - 4:19pm
MaskedPixelanteOf course, Saban's entire point hinges on them not knowing what the tokusatsu genre is.07/19/2014 - 1:57pm
lomdrLink to where you saw this, Sora-chan?07/19/2014 - 1:50pm
MaskedPixelanteThis is just... confusing to me... They're not being sued, but it looks like extortion, but maybe now the devs can make demands of Saban? I dunno...07/19/2014 - 1:47pm
MaskedPixelantehttp://www.joystiq.com/2014/07/18/chroma-squad-dev-agrees-to-royalty-split-ultimatum-from-power-ra/07/19/2014 - 1:43pm
Sora-ChanSo apparently, Towns is updating again. Not sure what that means, since last we heard it got abandoned.07/19/2014 - 5:42am
Matthew Wilsonthe 10c is based of the fact that it only cost them 2c a gig to send data around to start with, and that does include infrastructure07/18/2014 - 5:24pm
Matthew Wilsonhere is the thing the average user does not use enough bandwidth to justify usage based billing at most they would be allowed to charge 10c a gig. the avrage user would need to use around 600 gigs a piece.07/18/2014 - 5:23pm
james_fudgeThe FCC can apply what rules it sees fit and ignore rules that make no sense under Title II.07/18/2014 - 4:57pm
Sleaker@MW - ahhh thanks for the info. I still don't see how Title II or reclassifying would benefit industry or do what people are asking the FCC to do.07/18/2014 - 2:43pm
 

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