Sugarbeats
CAGiversary!
There may be no GameStop in a short few weeks. Cash out any trade in credit and cancel all pre orders.
But will that bank make up for the entire States they are being shut down in?This, in my opinion, is poor speculation.
Side note: The several gs's in my area are absolutely making bank right now.
I'd also be worried depending on how much credit you have left there.They’re literally forcing employees to keep stores open I can’t believe they’ll have any issues short term
And when Toys R Us was going out of business, there wasn't much left to buy at the end. I wouldn't trust there will be much left with everyone in a rush to spend what credit they have left.Even if GameStop stores close down amid the COVID-19 response, even if they do not recover financially afterwards, the company won't just vanish overnight. Look at what happened with Toys R Us. it was announced the company was going under and the stores began liquidating at increasing discounts.
Don't rush out and spend all of your credit now. Assuming GameStop is going out of business, wait until they start discounting everything.
I highly doubt gamestop will do what toysrus did. Their stores will already be closed, they're not going to reopen just to get rid of their inventory. They will just liquidate it to some other company. Your credit will be worthless.Even if GameStop stores close down amid the COVID-19 response, even if they do not recover financially afterwards, the company won't just vanish overnight. Look at what happened with Toys R Us. it was announced the company was going under and the stores began liquidating at increasing discounts.
Don't rush out and spend all of your credit now. Assuming GameStop is going out of business, wait until they start discounting everything.
I feel bad for the employees working there because its damned if they do or don't. Its like sure, its good idea to shut down the stores due to virus, but man they are going to be f***ED because you bet your ass the people working at Gamestop are living paycheck to paycheck and now gonna be missing money.The second they start going out of business, they aren't going to sell digital content anymore. It's just going to be old used hardware and games, most of which will vanish quickly. If you have a lot of money in GS credit, you're best off converting it to digital currency now while you still can.
It's true... Best you can do as a gamestop employee that's supporting themselves and needs the money? Keep going until the stores are forced to close. That way when congress gives out some supplemental income you won't be marked as having quit your job. You probably don't have health insurance, so good luck taking care of yourself when you get sick...I feel bad for the employees working there because its damned if they do or don't. Its like sure, its good idea to shut down the stores due to virus, but man they are going to be f***ED because you bet your ass the people working at Gamestop are living paycheck to paycheck and now gonna be missing money.
We're going to see a lot of unemployment and homelessness in the next following months...
They're saying that to explain why they're staying open, when it's really just to make a shitload of money from schools being out and AC/Doom. There is no way that closing for 2 weeks while not paying employees is going to put them out of business. They would've been doing worse without the coronavirus.They're telling their employees that they can't close because if they do, they might not re-open, and they're *going* to close temporarily. Their claiming to be essential is bullshit. It isn't going to last.
Every other non-essential retailer is going through the same situation, but spending money paying employees. I do agree it'll be more than 2 weeks, though.It's going to be longer than a 2 weeks close.
I had the same problems using desktop then I tried it on my phone and it finally worked. I don't remember if it was the mobile site or the app though and I redeemed all my points so I can't test it again.They're already a joke. I have points I can't redeem and I've been talking to their support people for almost 4 months about it now. Literally they screwed up my december join bonus -- it took me a month to get them to give me points to make up for it, and now I can't use them. It just errors every time.
p.s. if anyone has any suggestions on getting reward redemptions to work, I have tried literally everything.
Sorry but I don't think GameStop is going to give you much in trade in for either one.I have a wife and child, GameStop can’t close
1) Operating costs don't go to zero even when you close your physical stores. You have to keep paying rent and other obligations, such as interest on debt.Every other non-essential retailer is going through the same situation, but spending money paying employees. I do agree it'll be more than 2 weeks, though.
https://www.youtube.com/watch?v=MEWniG991O0I have a wife and child, GameStop can’t close
Are they the 500GB or 1TB models?I have a wife and child, GameStop can’t close
It's indefinite because they have no idea when they will lift these orders. But if the employees all go on unemployment they won't have any staff to reopen the stores with I would assume."GameStop to close all California stores indefinitely"
https://www.theverge.com/2020/3/20/21188799/gamestop-california-store-closures-indefinite-coronavirus
1. Literally every business is dealing with this, the government will step in1) Operating costs don't go to zero even when you close your physical stores. You have to keep paying rent and other obligations, such as interest on debt.
2) Gamestop has a 1.9 debt to equity ratio, meaning they owe about double what they're worth. The stock market crash was the needle that broke the camel's back. This is pretty much the inflection point of a doomed company.
No, that won't happen. They have to at minimum, allow the pre-orders to be cancelled and refunded. You also have to be able to have enough notice of a complete closure, so that you can use any store credit you have.Not saying I believe one side of this or the other, but could they really close fast or never re-open when many people have pre-orders that they have $50 down on them or even paid off in full? Not to mention gift cards trade credit etc.
Toysrus wasn’t closed when it went bankrupt. When GameStop goes bankrupt they will already be closed for months and employees gone. Who are they going to hire to sell the rest of their inventory?ToysRUs honored giftcards for 6 months after filing for bankruptcy. Why do people think GameStop will just close up and their inventory and fixtures will magically disappear? It's 2020, why are we this stupid?
They're saying that to explain why they're staying open, when it's really just to make a shitload of money from schools being out and AC/Doom. There is no way that closing for 2 weeks while not paying employees is going to put them out of business. They would've been doing worse without the coronavirus.
Of course they can. I know a restaurant that sold gift cards the day before they shutdown when they knew they were shutting down. What are you going to do sue them? The best you can do is a chargeback if you paid by credit card.Not saying I believe one side of this or the other, but could they really close fast or never re-open when many people have pre-orders that they have $50 down on them or even paid off in full? Not to mention gift cards trade credit etc.
If you paid cash for a pre order, they have to refund you. But store credit may fall under the category of gift cards, which are considered an unsecured loan in a retailer bankruptcy and they do not have to allow you to use them.No, that won't happen. They have to at minimum, allow the pre-orders to be cancelled and refunded. You also have to be able to have enough notice of a complete closure, so that you can use any store credit you have.
gamestop isnt the only place you can buy video gamesI disagree that Corona will kill GS.... what will a bunch of out-of-work people quarantined to their couch want to do?
The question is how GS will execute to get those gaming dollars, and if they can actually get their website/app to work correctly 100% of the time. Removing their "Free edge shipping" is the decision that doesn't make any sense to me if they want to compete in this environment.
yeah you can still operate online. a comic shop i frequent now has to do everything via mail for the foreseeable futureSomething I'm not clear on : in a forced-closure state, are online-only businesses allowed to stay open? There's no direct contact with the public. Does every Amazon and Ebay 3rd party seller need to shut down? Does anyone know the answer to this (and not just speculation)?
If the answer is yes, Gamestop will continue to get income from their online sales. In fact, they could consolidate much of their inventory into larger stores and run those as warehouses for online orders as well. This would involve paying/keeping much less staff, but also allowing for a larger revenue stream (more stores with their inventory available for online purchase means more sales).
Obviously this couldn't last indefinitely without a replenishment of used inventory, but it would certainly help during the lockdowns.
No, not at all. Amazon is just limiting/delaying their warehouse incoming stock (and shutting down resellers scalping goods). That doesn't impact you or me from selling a game from my house to someone else. All mail/delivery is still good. USPS/Fedex/Amazon/UPS have confirmed staying operational.Does every Amazon and Ebay 3rd party seller need to shut down?
If the answer is yes, Gamestop will continue to get income from their online sales.
Had the same experience with stores in my area pre-corona. I had to replace my X1S as the video was going out on it, decided to make the jump to a 1X since I was replacing it anyway. Of the stores in my area, only two had X1X consoles in stock, and only 2 or 3 of those (only the NBA2K20 bundle, too). When I asked they said that all of the stores were basically just stuck ordering consoles as requested because sales of new hardware had slowed so much for them.Not saying I necessarily believe that this is going to happen but several stores near me stopped getting new consoles over the past few weeks to the point where they all have essentially none now. And last night I attempted to buy an Xbox One controller and they were out of every variety. The SL said they hadn't received a delivery of them in nearly a month. A quick search showed none avaolable within a 150 miles too. Kind of odd that they stopped receiving new controllers and systems.