Items tagged with NYSE: GME
We reported exactly one week ago of a ridiculous venture gaming retail giant GameStop would soon pursue in its never-ending quest for increased revenue: A very high interest rate credit card. Well today, we learn of a different sort of venture, one that could increase something just as important as revenue - customer loyalty. It'd be impossible to count the number of jokes people have made involving GameStop's lackluster trade-in values, but as of August 18th, those jokes are going to be harder to make. According to documents obtained by Kotaku, average trade-in values will go up 20%, with the best value coming to you in the form of store credit. In an example taken from the slide, if someone...
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If I could describe what most people think of GameStop, I'd have to call the company "Comcast Video Game Retailer". The fact is, a lot of people just don't like the company's shenanigans, of which there have been many over the years, and given the way the industry is moving towards digital, you'd imagine that it might want to backtrack on its poor moves and start working towards impressing people. Not so, apparently. Destructoid has learned that GameStop's latest money-making venture is a credit card, and one that carries an insane interest rate of 26.99%. That's a higher interest rate than most first-time card-holders have to deal with, and is more than double the market average of 13%. Buy...
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It's been seven long years since Sony launched its PlayStation 3 game console and eight years since Microsoft introduced the Xbox 360 to retail. To put that into perspective, some PC gamers were still using AGP graphics cards back then, like the GeForce 7600 GS and Radeon X1650 Pro. You can imagine the anticipation among console gamers leading up to the launch of the PlayStation 4 and Xbox One, both scheduled to ship in November. GameStop chief Paul Raines is expecting this to be the "largest console launch in history," according to statements he made during a post earnings financial call. Raines stopped short of offering up predictions on the number of next generation consoles he expects GameStop...
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New and used games retailer GameStop is planning to close 250 existing brick and mortar locations, according to comments made by company CFO Rob Lloyd at the Goldman Sachs Technology and Internet Conference in San Francisco, California. Oddly enough, while GameStop is declaring it 'game over' for 250 locations, it will also open between 60 and 70 new stores in 2013. There's a logical explanation for why GameStop is both opening new and closing down existing retail stores. "Closing 250 stores enables us to deal with the very small percentage of stores that we have that are unprofitable, but also to close marginally profitable stores and actually make more money by moving customers to other nearby...
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