Report: GameStop Closed 52 Stores During Q2 FY13

August 26, 2013 - GamePolitics Staff

During a recent conference call to discuss its fiscal year 2013 second quarter results, GameStop chief financial officer Rob Lloyd said that the retailer was operating 6,505 stores. The company also said that it added 13 new stores globally during the quarter. That means that during the second quarter which ended on August 3, the company closed right around 52 stores.

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GameStop Revenue for Q2 FY13 Down by Nearly 11 Percent

August 22, 2013 - GamePolitics Staff

Video games retailer GameStop announced financial results for the second quarter of 2013, beating analyst expectations on earnings per share, but posting a loss nonetheless. Total global sales for the second quarter of 2013 were $1.38 billion, compared to $1.55 billion in the same period a year ago - a 10.7 percent decrease. Consolidated comparable store sales also decreased 10.7 percent, slightly better than the guidance provided by the company on May 23.

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GameStop Comments on Xenoblade Pricing, Doesn't Answer Main Question

August 13, 2013 -

Yesterday, it was suggested that GameStop received a new shipment of the fairly rare and in demand RPG Xenoblade Chronicles and is selling them as 'used' for $90.

Why would GameStop mislabel a batch of new games as 'used' when it could command a higher price selling them new?  Like the number of licks required to reach the Tootsie Roll center of a Tootsie Pop, the world may never know because all anyone's been able to get out of the games retailer is why a used copy of Xenoblade costs so darn much.

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Consumers Cry Foul on High Price of Xenoblade Chronicles at GameStop

August 12, 2013 -

When you go to eBay, Craigslist, or some off-the-beaten-path retro game store you expect some level of price gouging to happen. People selling old games in these spaces categorize them as collector's items and try to sucker you into paying $500 for an old copy of a game (like Minish Cap for GBA). But when GameStop does it, you have to wonder what the heck is going on. Apparently that is exactly what the world's largest video gaming retailer is doing, according to this Kotaku report.

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New Jersey Court Approves Used Game Lawsuit Against GameStop

August 9, 2013 -

A federal judge in Camden, New Jersey has given the greenlight on a lawsuit against GameStop filed by three customers who claim that three of the company's South Jersey stores sold used games that sometimes cost more than buying the game new. The lawsuit alleges that GameStop did not disclose to customers that buying used games would have additional costs of anywhere from $10 - $15 online. All three of the plaintiffs bought EA games, which up until recently contained online passes.

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GameStop Offers $50 to Trade Xbox 360 Games For Equivalent Xbox One Title

August 9, 2013 -

GameStop is giving a $50 credit to users who trade in Xbox 360 versions of select games for Xbox One copies. The promotion covers standard retail editions of Call of Duty: Ghosts, Madden NFL 25, FIFA 14, Battlefield 4, and Assassin's Creed IV: Black Flag.

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Ready at Dawn Boss: GameStop Makes a Living at the Expense of Everyone Else

July 22, 2013 -

GameStop is taking everybody for a ride with the pre-owned games market, according to Ready at Dawn Studios boss Ru Weerasuriya. And by everybody he means developers and publishers. Speaking to GII, the head of the studio for God of War: Chains of Olympus and upcoming game The Order: 1886, thinks retailers like GameStop are making "a living at the expense of everybody else."

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GameStop Shuts Down PS4 Pre-Orders

July 9, 2013 -

GameStop has shut down pre-orders for the PS4, according to a Game Informer report. According to the story, the top video game retailer in North America has run through its launch allotment of systems. GameStop issued a one sentence statement confirming the news:

"Due to high demand for the system, GameStop is not currently taking additional store reservations for the PlayStation 4," a GameStop rep. told the publication.

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GameStop Approves of Microsoft's Shift on Xbox One Policies

June 20, 2013 -

The world's largest video game retailer issued a statement praising Microsoft's new policy on Xbox One as "great news" for gamers and is a testament to Microsoft's understanding of the importance of the used game market. The retailer said it welcomed the news, while analysts rightly noted this morning (as the company's stock saw an uptick in trading) that GameStop stands to benefit greatly from Microsoft's shift in policy.

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Analysts Praise Microsoft's Sea Change on Xbox One Restrictions

June 20, 2013 -

Two equity research firms have weighed in this morning on Microsoft's decision yesterday to give up on its Xbox One used games restrictions, region locking, and internet connectivity requirements. First up is BMO Capital Markets, who said in a note to investors this morning that this was good news for the industry - and in particular GameStop.

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Report: Wii U Basic Being Discontinued at GameStop Later This Month

June 5, 2013 -

Update #2: The Wii U's Basic Set model is not being recalled, according to a statement from Nintendo of America to Polygon:

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Analyst: Pre-Owned Market Could Generate $2.5 Billion in Credits for Trade-Ins on Next-Gen

June 3, 2013 -

According to analyst Colin Sebastian from equity research firm Baird Equity, the trade-ins on current generation console software and hardware has the potential to generate an estimated $2.5 billion in credit at retailer GameStop (to be used on next-gen consoles). Sebastian came to this conclusion after speaking with executives at the specialty retailer to discuss how it could diversify sales through the pre-owned and mobile markets.

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GameStop Assures Consumers that PS4 and Xbox One Games Can Be Resold

May 22, 2013 -

While Microsoft is being a little bit cagey about how it will handle used games on Xbox One, GameStop is trying to reassure consumers that next-generation games will be able to be bought and sold. Speaking to Forbes, GameStop president Tony Bartel explained why having the ability to buy and sell games is important as consoles transition.

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GameStop to Stop Accepting PS2-Related Items as Trade-Ins June 1

May 6, 2013 -

According to the image to your left, GameStop will no longer be accepting trade-ins on various PS2 related items and systems as of June 1, 2013. That means if you want to trade those PS2-related items in for something new you'd better do it in the next couple of weeks. The image comes from a Reddit user named eGORapTure, who spotted the sign at his local GameStop.

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GameStop: PS4 Demand Will Outstrip Supply at Retail

April 2, 2013 -

While some may question the power of the PS4 at retail at the end of this year, retailer GameStop has absolutely no doubt that Sony's next home console system will be very, very popular.

"Although we have been given no official numbers by Sony we do believe that demand will far outpace the supply of this product during the launch window," GameStop president Tony Bartel recently told investors.

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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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Which group is more ethically challenged?:

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MattsworknameNot sure if your being sarcastic, or if you joined up with EA's marketing department07/06/2015 - 4:01am
Andrew EisenI don't know, maybe a heaping, helping of DRM is the panacea for all that ails Konami.07/06/2015 - 1:24am
MattsworknameThe only thing thats gonna save them andrew , is walking back all the stupid they have been doing lately. At this point , ithink they did to much damage to there brand to survive07/06/2015 - 12:42am
PHX Corphad there been a sonic 4 episode 3, I would Buy it on Steam, Xbox 360 and PS3 right away07/05/2015 - 10:10pm
Andrew EisenWell, what if Konami released MGS 5 with a mandatory $60 plastic peripheral? Do you think that would help?07/05/2015 - 8:09pm
MattsworknameI dont think so, I think that between the lose of iga, kojima, and so forth, i think MGS 5 will be less succesfull then they think, and tha will spell there end.07/05/2015 - 7:08pm
Andrew EisenI'm sure the Metal Gear micro-transactions will keep 'em afloat!07/05/2015 - 6:58pm
MattsworknameKonami is dying, slowly, surely, inevitably. Capcom is in the same situation, and I think that if they don't get there respective acts together, there going to pull a thq and sell off all there IP.07/05/2015 - 6:51pm
Andrew EisenHowever, if you have a gaming PC and like PC gaming, the Wii U is arguably the best console you could get (unless you just don't care for Nintendo's games, of course).07/05/2015 - 6:07pm
Andrew EisenAnyway, if the Wii U is your only gaming platform, yeah, you're missing out on a ton of great stuff.07/05/2015 - 6:06pm
Andrew EisenMatthew is referring to my latest video, if anyone's wondering. https://www.youtube.com/watch?v=FkuL1UVHYJA07/05/2015 - 6:00pm
Matthew Wilson@AE the wiiu may have the best exclusives among consoles, but lack of third party support kills it. now if we want to play the exclusives game, the pc wins, not just in numbers,but some of the best games I have played.07/05/2015 - 5:53pm
Andrew EisenPic of the pack with measurements: https://twitter.com/paulfeig/status/61768231705475481607/05/2015 - 5:38pm
Andrew EisenThis is really cool to see. Ghostbusters director helping out cosplayers with prop pics. Here's the thrower with measurements: https://twitter.com/paulfeig/status/61735089365938995307/05/2015 - 5:37pm
Matthew Wilsonhttps://www.youtube.com/watch?v=2lMLRIwiB_c a very interesting video. by Unseen64 Tamaki. the video covers how project hammer fell apart.07/05/2015 - 3:43pm
Andrew EisenImagine if Nintendo started charging for the Super Guide feature it has in some of it's games. That's what the MGS microtransactions sound like to me.07/05/2015 - 12:36pm
PHX Corphttp://www.gamesradar.com/konami-mgs-5s-microtransactions-and-future-franchise/ Konami explains MGS 5's microtransactions & what happens after Koj07/05/2015 - 12:21pm
Andrew EisenFinished Gone Home last night. Really enjoyed that game. Very different. Definitely not for everyone though.07/05/2015 - 11:00am
InfophileI know the ZE series was in the red in Japan, but international series boosted it to profitability. That may not mean it's more profitable in the west, but it does mean ZE3 wouldn't exist without the western market.07/04/2015 - 7:54am
Consterwhy aren't "Video game players" an option on the poll? :P07/04/2015 - 5:19am
 

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