GameStop Reports Massive Q2 Loss, Closing Up to 200 Stores This Year

Recently GameStop reported a $32 million loss for Q2 of this year (Final GME ER Q2 2019 - 9.10.19.pdf) announcing that as a result they'll be closing between 180 and 200 'underperforming' stores before year's end... with even more closures coming! ⚰ ☠

This doesn't come as too much of a surprise considering upcoming platforms like Stadia rely on cloud streaming subscription models while Sony's current PSN, PS Plus and PlayStation Now services focus on digital downloads... although their next-generation PlayStation 5 console will still support physical media discs.

To reminisce briefly, back in the day I frequented Babbages, Electronics Boutique (aka EB Games) and Software Etc for PC games... and for video games it was Child World, KB Toys and Toys R Us.

If anyone works at GameStop and has additional details or those with some fond memories of your favorite game store to share, feel free to do so in the comments below.

Also cast your VOTE in the latest Forum Poll responding to the question of today's Internet-centric world: Are Brick And Mortar Video Game Stores Still a Necessity?

Cheers to Engadget.com for a heads-up on the news earlier this week.

 

[barelynotlegal]

Good for them. That’s what they get when you rip off your customers.
Support your local stores

 

[PSXHAX]

If anyone voted in the poll since resetting it please cast your vote again thanks!

 

[Kennythatbeme]

I don't visit GameStop very often as their prices are way too high for decades-old games and they have gotten away with it for too long. Now I do support the local, small-business video game store in my area, as they are more reasonable and care about the consumer. So... toodle-loo, GameStop.

 

[Pango]

I Agree. Too pricey. Rip customers off with trades and all. See ya

 

[Zoilus]

lol same thing every other company does "close under performing" stores, so that share holders think there's a chance for salvation and they all don't bail, but there isn't.

This is a tactic so upper management can keep getting paid as they get paid the same whether running 1000 stores or 500. I said before I gave them 5yrs tops before last store closes, I take that back... make it 3yrs...max!

I hate GS, good riddance!

 

[koolershaker]

good to hear

 

[Knight69]

Good! I remember I took about 15 games to trade in a couple years ago and they said 7 dollars cash or 10$ trade in. They are a complete rip off

 

[chrisrlink]

I just pre ordered the switch lite at my local store (the local b&M store doesn't pre order on new systems cause of limited quantity they get) i sure hope the store doesn't close the day before (anyone with experiance with that? i'm sure they'll at least refund the $213 or ship it for free from another store)

 

[wookie39]

Now that we've got Amazon ruling the entire world with regard to merch it's definitely and not surprising that GS will experience it's "game over" demise.

I used to work at Babbage's in the mall and it always amazed me how people would spend there paycheck on picking up the latest and greatest games, systems, etc... To me, these outfits are strictly run on capitalistic greed !! Good Bye GS, hello Anti-Christ Amazon !