GameStop to close up to 200 stores globally by 2020

dolabla

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The bad news just keeps coming for the biggest video game retailer GameStop.

The company said Tuesday that it would be closing up to 200 stores by the beginning of 2020. Chief Financial Officer Jim Bell dropped that information in an earnings call, saying that despite GameStop already closing 195 stores, the company was “on track to close between 180 and 200 underperforming stores globally by the end of this fiscal year.”

The news comes after recent moves by GameStop which already indicated just how much the company is struggling lately. Sales were down 13.3 percent in the first quarter of this year, and in August, GameStop laid off up to 200 employees in multiple divisions, according to Business Insider, which included parting ways with about 14 percent of its corporate associates at its Texas headquarters and almost half the staff at the company's popular video game magazine, Game Informer.

GameStop is trying to keep pace in an evolving and changing video game industry. A major headwind facing the retailer is that gamers no longer necessarily need or want to buy their video games at a brick-and-mortar store. Instead, they can download the games directly to the gaming console, without having to leave their home.
They have 5,830 stores according to wiki though.
 

Sub_Level

wants to fuck an Asian grill.
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As shit as gamestop is, this isnt entirely their fault. Brick and mortar is dead. Get a job at Amazon while you got the chance, lads. With any luck you can be trained to do maintenance on the robots unless you already have skill in a white collar position.
 

dolabla

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They need to. There are way too many stores and they're all filled with unsold clearance junk and games you can get anywhere else. My home town has two across the street from one another and a third literally a short walk down the road.
Yep, one in the mall (which is looking bare bones itself) here and literally 3-4 minute drive up the road there's another GameStop. There's also another one, but it's at least a good distance away from those two on the other side of town. They do have way too many stores.
 
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Vawn

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If they really have over 5800 stores, this is barely noteworthy. I was expecting the store closerures to be closer to 50 percent.

But, I'm guessing they want to hold out until the start of the next generation consoles.
 

The Snake

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Yep, one in the mall (which is looking bare bones itself) here and literally 3-4 minute drive up the road there's another GameStop. There's also another one, but it's at least a good distance away from those two on the other side of town. They do have way too many stores.
In their defense, I think a lot of it is caused by acquisitions. The three I mentioned were at one time Babbages, EB Games, and FuncoLand.

Man, I miss going into all three of those stores and buying legacy games.
 

TheContact

Formerly 'TesUsa'
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This is just their overall strategy for trying to exist in the "digital age". They are closing down shops that don't need to be opened (they opened way too many in the first place and most of the shops are small--especially in the dying malls), and shifting to retro games and offering in-house gaming experiences such as tournaments and centers where you can go in and try a game before buying it. Honestly, this sounds really cool. GameStop might actually provide a good experience to go to--something that is completely opposite today.
 

Petrae

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The GamesIndustry.biz article on this mentions that these closures will be followed by more closures in the next two years.

It’s about time we started seeing redundant stores closing. There’s no longer a need for so many, with digital sales accelerating and online commerce continuing to aggressively move ahead of brick & mortar.

Sucks for the employees, for sure— but the warning signs have been flashing for years to get the hell out of retail before the inevitable collapse.
 

peter42O

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GameStop could easily survive, do better and be profitable. They should introduce a Gamers Club Unlocked program. $60 a year. 20% off new sealed games and get 20% trade in credit. Every $60 game would be $48 and trade in value for the first 30 days would be $25 base plus the 20% to make it $30. Essentially making it $18 for every game at launch. To me anyway, that would be fucking great because you could keep buying/trading in/using that credit to buy your next game on a continuous loop.

They should also lower their used game prices based on the new retail price. $60 new = $45 used. $50 new = $35 used. $40 new = $25 used. $30 new = $20 used. $20 new = $15 used. $15 new = $10 used. $10 new =$5 used. The more expensive the new price is the cheaper the used price would be in terms of difference.

If GameStop were to do the above or at least close to it, I would buy all my games from them because I would simply be getting more for less while they would make more money due to the cheaper used prices and keep customers in their eco-system.

Also, they should eliminate all the non-gaming stuff in stores in which it doesn't make a profit because well, why bother?

Anyway, that's just my thoughts as I like GameStop, prefer physical media the most and don't ever want to see gaming go all digital and/or streaming because all the sales/deals, etc. would be gone completely and I would either lower by gaming purchases to 6 a year (compared to around 20 a year) or just quit completely.
 
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PocoJoe

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I hope they dont close Finnish stores. Already closed one GameStop in my city, now only GameStop left is also only gaming store here.

Im waiting for PS4 pro to ps5 trade deals so it would suck to drive hundreds of km because of that
 
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Allandor

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Well, not really surprising. They are overpriced, try to sell used games at new prices and in the end there is nobody left who would buy there, if in the store next to gamestop you get a new game for the official (or lower) price. It is only good for merchandise and even that is expensive there.
 

Apexhell

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whats the end game survive till console launches ? expect everyone to trade in old games and old consoles and then be out of cash and a lot of stock. I just don't see them making it to nov 2020. Gamecrazy was going through this too, said they were only gonna close 100 stores by fiscal year end, every store was shutdown a month prior. A lot of stores will be converted to retro only or yugioh stores. and only prestige locations will still be gamestop. How many of those do they have 500-1000? worldwide.

I don't buy from gamestop because used on amazon is cheaper. hell sometimes new on amazon is cheaper than used at gamestop I got mw trilogy for $20 new. used at gamestop its $30.
 
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Bryank75

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They really need to cut back.... have one Gamestop per city.... maybe 2 in bigger cities and make each store more specialized and unique. Games should be at a competitive price as well as peripherals.

If they wanted to, they could franchise some locations, because a small business owner can run things more efficiently and get on a more personal level with local clients. Maybe offer bespoke deals etc.
In other words it would allow a lot of flexibility. At this stage they shouldn't be caring too much about breaking street date and all that nonsense... if they have someone willing to pay 200 or 300 dollars, just take it. The rigidness only got them to this point where they are about to be defunct.
 
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PaNaMa

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Didn't some guy on youtube with tons of cred post a video last week saying it will be 2000 stores, and that their business model is going to table top and retro gaming?
 

Evil Calvin

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Didn't some guy on youtube with tons of cred post a video last week saying it will be 2000 stores, and that their business model is going to table top and retro gaming?
Yep. He's been pretty right so far. Worked there for 11 years and apparently know a SM or DM. 2000 stores closing is what he said. Wouldn't be surprised.
 
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PaNaMa

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Yep. He's been pretty right so far. Worked there for 11 years and apparently know a SM or DM. 2000 stores closing is what he said. Wouldn't be surprised.
Strange then, the actual news report is saying 200. Maybe it's just the tip of the iceberg, and the rest gets announced post holiday. Or maybe they are gonna try to make it to next gen console launches...
 

Bryank75

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I live in the DMV area and work in Woodbridge (which isn't a big suburb) and there are 3 ..two across from each other and 1 in the mall
Exactly the type of situation the need to sort out. Do they all have exactly the same stock?
They need to shut down 2 and leave one good one with competitive pricing and interesting products.... not cheap homogeneous crap sold at a premium.

As someone above said, a program where you pay 60 to 100 for the year and get really great discounts and perks would be great but their card system right now is a joke and offers are insulting.
 

DrJohnGalt

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The 200 figure is just by the end of the year, with more to follow over time.

I agree, the acquisitions put up a lot of redundant stores that should have been shut down right away.

But even with all the hate Gamestop gets, I still like going there for their used game sales. If all 3 within five miles of my house close, I'll be sad.
 
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lock2k

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I don't think I've ever walked inside a game store since my own store closed in December of 2015.

I buy everything online (physical or not).
 

Cynn

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We’re not far away from GS being a memory and people always bringing up how great it was and going on and on about the game store era. Just like Blockbuster now. People fucking hated Blockbuster until it was gone.
 

NahaNago

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I have like almost 20 of them within like 25 minutes from where I live and 2 of them are less than a minute from each other.
 
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johntown

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Gamestop either needs a totally new business model or just give it up already. Just like Sears, they are a relic of the past and unless they can provide a more modern service they will be gone soon.

It is a shame because it is a valuable service for gamers on budgets. They need to pioneer a digital trade in system.
 

Petrae

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It is a shame because it is a valuable service for gamers on budgets. They need to pioneer a digital trade in system.
If I had been interested in buying a Gen9 console, GameStop would’ve been where I bought it. It’s far more convenient to take old Gen8 machines there and trade them in toward a new machine than deal with eBay or other similar sites. Having to box the shit up and ship it correctly is a royal pain in the ass, along with buyer complaints and annoyances. Craigslist meetups are an invitation to get hurt; many outcomes of Craigslist meetups involve shootings or stabbings. No thanks.

Without GameStop around, I’d stop trading or selling my no-longer-wanted video games... and I’d cut way back on new games.
 
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Presumably the industry will fully end when Gamestop/GAME die.
Oh no...? What ever will we do without Game(toy)stop? I guess we gotta go to Best Buy, Target, Walmart, or order online at Amazon for our games instead and that's terrrrible.
 
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Pagusas

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They need to reinvent themselves badly, their stores are the most disgusting; gross looking things on the planet. It’s abysmal. I know gamers aren’t exactly known to be beautiful people usually, but the fact GameStop reflects the chaotic ugliness of the Industry and it’s fans so perfectly is a horribly bad thing. Pretty up the stores, cut down on the inventories, make your color scheme, shelves and overall aesthetics beautiful. Become a place people want to be and play games, like a book store for games. Hire nice people who will keep the stores in perfect order. Setup amazing loyalty programs. Buy into all the major system digital programs and become a good place for kids to come in to buy digital credits or digital games without needing a credit card on file. Be THE event place for system launches, big releases and demos of new hardware.


There is so much GameStop could be, but they seem content being the trash heap of the retail world.
 
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demigod

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We’re not far away from GS being a memory and people always bringing up how great it was and going on and on about the game store era. Just like Blockbuster now. People fucking hated Blockbuster until it was gone.
I beg to differ. Growing up I actually liked Blockbuster and especially Hollywood Video(cheaper than BB). Gamestop can go fuck themselves tho for trying to sell used games as NEW.
 
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DragoonKain

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Gamestop/EB used to be the shit back in the day. I remember going there for many a big game releases and the employees back then used to be way more knowledgeable and helpful. It's a shame what the company has devolved into, even before their business started to take major hits.

I remember just going into my local ones and chatting with the employees about games. They were busy stores but everyone was friendly and we'd all chat about games. I remember picking up Chrono Cross and picking up Legend of Dragoon after school and talking to the employees about those games and talking about RPGs and what kinda games we liked.

I mean, I like getting games delivered right to my door without having to waste time, gas, and waiting in lines too, but I will admit, I have a little nostalgia for old school buying experiences at the old Gamestops back when it was a decent place to go.
 

Gargus

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I hope the entire chain goes under honestly.

I want them to fail so another, better company will come along and take their place.

I won't ever give lamestop a penny again. And since bestbuy cut off my gamers club unlocked I buy fewer games than ever because that GCU made me more willing to take chances on buying games. If I bought 100 games with GCU without it I now buy 20. Rest of the time I get them used off Ebay or gamefly. We just need a new company that's just for games to come along and give people reasons to buy games again with some kind of good rewards system. I mean shitstop has one but it's as useless as a three peckered donkey.
 

Soapbox Killer

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I hope the entire chain goes under honestly.

I want them to fail so another, better company will come along and take their place.

I won't ever give lamestop a penny again. And since bestbuy cut off my gamers club unlocked I buy fewer games than ever because that GCU made me more willing to take chances on buying games. If I bought 100 games with GCU without it I now buy 20. Rest of the time I get them used off Ebay or gamefly. We just need a new company that's just for games to come along and give people reasons to buy games again with some kind of good rewards system. I mean shitstop has one but it's as useless as a three peckered donkey.
Waiting for a company, of any size, to pick up the slack of a theoretical closed Gamestop franchise is a "Long wait for a train dont come." When Gamestop closes, its over. Either shop your local mom and pop shop if your are lucky enough to have one or make the best of the big box alternatives.


Its like Blockbuster Video coming back.