[Sparky01GT]

Anyone having issues with GameStop sending the wrong products and refusing to fix the issue?

Had them send me several wrong items, but no, never had a problem getting either a return or replacement. What are they telling you? 

[ritchardf]

Was in gamestop today and the employee says that we should be refreshing the gamestop site tonight at midnight for a new sale, do with that what you will

there are new sales every sunday....

[keyblader1985]

No sale that I see. I also got annoyed when the site FINALLY showed Miles Morales PS4 for <$25, but then when I clicked on it it was actually $36.

[nietzsche74]

there are new sales every sunday....

But not every Sunday is the 3rd of July!

[steamcheapcom]

There is definitely going to be some sale for 4th of July.  It may suck.  For years this has basically been random.  The only sales people care about are 33% off and up, but obviously no business can do that all the time.

 

Sales are not "done".  Literally, we just had a 9.99 B2G2 and a B2G1 on sealed games.  These kinds of sales happen every few months at the most but we got 2 back-to-back.  And last year there were at least 2 "50% off" sales.

 

Gamestop is failing (they lost $381,000,000 last year), but they are doing these sales.  Is B2G2 and B2G1 actually profitable, or is the purpose to keep sales figures high for the balance sheets so they can promote that figure each quarter, until they have milked the company and run it into the ground (these officers are getting millions)?  If the latter then maybe we'll see a lot more of these sales.

[DemonGamer24]

There is definitely going to be some sale for 4th of July. It may suck. For years this has basically been random. The only sales people care about are 33% off and up, but obviously no business can do that all the time.

Sales are not "done". Literally, we just had a 9.99 B2G2 and a B2G1 on sealed games. These kinds of sales happen every few months at the most but we got 2 back-to-back. And last year there were at least 2 "50% off" sales.

Gamestop is failing (they lost $381,000,000 last year), but they are doing these sales. Is B2G2 and B2G1 actually profitable, or is the purpose to keep sales figures high for the balance sheets so they can promote that figure each quarter, until they have milked the company and run it into the ground (these officers are getting millions)? If the latter then maybe we'll see a lot more of these sales.

Ok, Ken.

[Daniel_Shadow170]

I just want a trade in deal. I have over 80 switch pre-orders and want to pay it off in Wii sports and new super Mario Bros.

[strikeanywhere]

Ok, Ken.

"Definitely" has been redefined.

[Shugo2540]

Failing based on what metrics? I reviewed the 10-Q and see their net sales for their first quarter of 2022 were up 8%, their profits were down yes, but for reasons every business is hurting, freight costs and supply chain issues, I wouldn’t say they are failing due to a lack of sales, my opinion is this may be more based upon their loss of profits due to factors outside their control. But I’m not sure their financial statements indicate they are failing.

[Daniel_Shadow170]

I don't see GameStop losing money just yet. While 2020 was terrible for them 2021 thanks to systems and cutting stores saved them.

2022 when they get in bad shape they can trim another 500 or so stores.

It's not a bad thing to cut stores loose in fact in some areas there is 8-10 GameStop's within a 20 mile radius that's ridiculous.

[intelligentidiot]

TLDR: GameStop has been losing money, but has cash available, so they may stick around, see what happens ¯\_(ツ)_/¯.

 

GameStop still has about 3,000 stores in the US. They have been closing some stores over the past several months, but not as a big chunk as they had in the past. Stores seem to be more like mini distribution centers for online orders. They had $1.720B in cash and cash equivalents as of July 31, 2021 and as of most recent earnings report, that is down to $1.035B. I imagine it went into things like opening new distribution centers and their NFT/Crypto venture.

 

In terms of losing money, their earnings reports shows a net loss for the past 5 quarters. Most retail has been doing poorly I imagine due to the supply issues and effects from the ongoing pandemic. The state of the economy and inflation will probably continue to hurt retail, not that I know anything about it really haha.

 

Hopefully, GameStop can turn things around, I do not want them to disappear, it wouldn't be good for the gaming market, not that GameStop is really focused on games any more. I was hoping for more focus on retro, which they had some plans for, but that seems to be disappearing with very few restocks of retro games online and a large number of retro listings being pennied out both in price and trade value. Covid ultimately probably killed that. If they continue the net losses and burn through the cash at the current rate, 2024 may be the defining year of what GameStop will become.

 

Until then, need to keep an eye on boomerangs (not many) and price mistakes (a few good ones lately  ).

[hooknsling]

TLDR: GameStop has been losing money, but has cash available, so they may stick around, see what happens ¯\_(ツ)_/¯.

 

GameStop still has about 3,000 stores in the US. They have been closing some stores over the past several months, but not as a big chunk as they had in the past. Stores seem to be more like mini distribution centers for online orders. They had $1.720B in cash and cash equivalents as of July 31, 2021 and as of most recent earnings report, that is down to $1.035B. I imagine it went into things like opening new distribution centers and their NFT/Crypto venture.

 

In terms of losing money, their earnings reports shows a net loss for the past 5 quarters. Most retail has been doing poorly I imagine due to the supply issues and effects from the ongoing pandemic. The state of the economy and inflation will probably continue to hurt retail, not that I know anything about it really haha.

 

Hopefully, GameStop can turn things around, I do not want them to disappear, it wouldn't be good for the gaming market, not that GameStop is really focused on games any more. I was hoping for more focus on retro, which they had some plans for, but that seems to be disappearing with very few restocks of retro games online and a large number of retro listings being pennied out both in price and trade value. Covid ultimately probably killed that. If they continue the net losses and burn through the cash at the current rate, 2024 may be the defining year of what GameStop will become.

 

Until then, need to keep an eye on boomerangs (not many) and price mistakes (a few good ones lately  ).

Same sentiment. I don’t want Gamestop to go anywhere, but that is probably just wishful thinking. 

 

Retro demand comes and goes in cycles. It’s not a sustainable model. There’s a dwindling supply of retro media that can’t really be replenished. We’ve seen the effects of having a glut of inventory. 

 

Demand for new games keeps falling. Tolerance for full price new games is shrinking to the point where within 1-2 months, games are already being discounted 25-40%. If the demand for new games isn’t there, the trade-in model is not attractive to customers.  

[Shugo2540]

Seems like they want to move on from just video games and really diversify their offerings;

We are taking steps that include:
• Increasing the size of our addressable market by offering vast product selection and growing our product catalog across PC gaming, collectibles, consumer electronics, toys, augmented reality, virtual reality, blockchain technology, and other categories that represent the natural extensions of our business;
• Expanding fulfillment operations to improve speed of delivery and service to our customers;
• Building a superior customer experience, including by establishing a U.S.-based customer care operation supported by frictionless ecommerce and in-store experience; and
• Strengthening technology capabilities, including by investing in new systems, modernized ecommerce assets and an expanded, experienced talent base.


Although they need to do something about their pay to expand their talent base.

[GPS]

Plus it doesn't help them that MS and Sony have Gamepass and PS+.

[TTAZ]

I don't see GameStop losing money just yet. While 2020 was terrible for them 2021 thanks to systems and cutting stores saved them.

2022 when they get in bad shape they can trim another 500 or so stores.

It's not a bad thing to cut stores loose in fact in some areas there is 8-10 GameStop's within a 20 mile radius that's ridiculous.

I have 3 within a mile radius near my location lol. I’ve never understood the logic

[Shugo2540]

I have 3 within a mile radius near my location lol. I’ve never understood the logic

shocked they still do this, we had something similar even 2 within .5 of a mile, they’ve closed all but one, maybe the give it time to see which stores gets more traffic before closing two.

[steamcheapcom]

"Definitely" has been redefined.

Still not too late lol

[nadohawk]

I recall when GameStop would have a store two, maybe three storefronts apart from each other after they acquired EBGames. 

[The Questyen]

I have 34 locations within a 30 mile radius according to their site and 18 within a 15 mile radius. 

[Twilightsparkle]

I have 34 locations within a 30 mile radius according to their site and 18 within a 15 mile radius. 

I hope you live in a heavily populated area otherwise that doesn’t make sense.

[Volitar Prime]

I have 28 within a 30 mile radius and 13 in a 15 mile.  I'm kind of on the edge of the populated areas, I can see farm land from my upstairs windows.  There used to be an intersection near me with 4 of them, one on each corner.  One was within an inside mall (which at once time had 2 in the same mall), and the other 3 were in outdoor strip malls.  They finally reduced down to just 1 in a strip mall.  As a shopper it is better this way.  All too often I used to go to one of them looking for a game only to be told that one of them across the street had it in stock instead.  Now with only 1 in that area they either have it or they don't but I save a lot of running around.

[stringycupps1]

I have 50+ within 30 miles and 23 within 15 miles.  In 1 area, there were literally 2 stores across the street from each other (a throwback to the GS vs EB Games days), but recently, they closed one.  They have too many stores; however, their costs are incredibly low.  The stores have small footprints, and most of them have 1 employee for most of the day.  

[beenaround]

Variable cost being low means nothing, the fixed costs are what kill a business. Especially for Gamestop where tons of employees make $10/hr or less.

[stringycupps1]

Variable cost being low means nothing, the fixed costs are what kill a business. Especially for Gamestop where tons of employees make $10/hr or less.

Yeah, hence the part about the store footprints being small.  Since COVID, the power dynamic between landlords and renters for commercial space has shifted in favor of renters (the opposite of residential).  Many shopping areas are trying to change from only commercial to mixed use to counteract this, but that requires zoning changes

[beenaround]

Yeah, hence the part about the store footprints being small.  Since COVID, the power dynamic between landlords and renters for commercial space has shifted in favor of renters (the opposite of residential).  Many shopping areas are trying to change from only commercial to mixed use to counteract this, but that requires zoning changes

Store footprints can be small all they like, with as many stores as there are the fixed costs are the killer, period. Commercial real estate has been in the crapper for a lot longer than Covid, Best Buy closed all those stores before that and so did Gamestop in their purges. Doesn't really matter when you have a 3 year or 5 year lease and the landlord refuses to negotiate.

 

How many of these stores do you think actually do 15 transactions a day at AOV over $100? 20%? 30% tops? Most stores don't make back their rent until probably the 25th day of the month, or not at all.

[laserbearcat]

Is there any trade bonus games coming up? Or G2L? I feel like trimming the collection. 

[Freeze Time]

The stores have small footprints, and most of them have 1 employee for most of the day.

I've never liked this, especially when I see a woman. Walking into a store and only one person there is unsettling to me. Like do they have to close the store when they use the bathroom? I'm sure there have been times where a customer is rude or violent and if you are the only person there, that's got to be scary.

What if it's really busy? I worked at an Electronics place like 15 years ago and they were certain times where everyone was on break or lunch and I was the only one on the floor and had to help a lot of people. It did not go well. I know that I wouldn't feel comfortable opening a GameStop and being there all by myself. Not sure how long employees are by themselves but I would think more than like an hour is too long. There should be at least 3 workers any given day. That way, you have people that can go on break and lunch and there should always be at least two people working at all times.

[keyblader1985]

Crap; I bought an eshop code at a store and put the receipt in my pocket, but it's so damn hot outside that a portion of the code on the receipt was destroyed by sweat. I have to guess four characters.

[gospelman]

Crap; I bought an eshop code at a store and put the receipt in my pocket, but it's so damn hot outside that a portion of the code on the receipt was destroyed by sweat. I have to guess four characters.

Check your active offers page on the gs site. Mine is littered with 2 years of eshop codes bought instore.

[keyblader1985]

Nah, I've got older codes but not from today. Maybe it'll pop up if I give it some time.