Following yesterday's lowered profit forecast announcement from GameStop, the company's stock took a 15 percent dive as of last night. According to GamesInudstry.biz, stocks opened yesterday "sharply down" due to the release of lowered profit expectations, but rose again before ending the day at $20.46.
We might not know what the future holds for GameStop, but Wedbush Morgan analyst Michael Pachter returned from the future for just long enough to say he believes "industry sales will rebound in 2010 and that GameStop is well-positioned to gain share [over] the first half of the year." It certainly doesn't hurt the retailer that 2010 is chock full of delayed 2009 releases, we imagine.
Reader Comments (14)
Posted: Jan 8th 2010 2:35PM ArtificeDrake formerly known as said
Resistance may be futile but I suppose that even the Borg must bend to the ebb and flow of the economy...
Reply
Posted: Jan 8th 2010 3:17PM (Unverified) said
Couldn't happen to a better company. Still want 3D gaming to fail?
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Posted: Jan 8th 2010 3:18PM Inquisitor Glokta said
I, for one, plan on buying more games in Q1 than in all of 2009... but not at GameStop.
Reply
Posted: Jan 8th 2010 3:26PM (Unverified) said
It woulda helped if their idea of sales wasn't a doorbuster World at War for 40 bucks.
Reply
Posted: Jan 8th 2010 3:38PM Bennyboy371 said
I hate Gamestop, grrrrrr!!!
... I just wanted to be cool and accepted. T_T
Reply
... I just wanted to be cool and accepted. T_T
Posted: Jan 8th 2010 4:29PM (Unverified) said
People are starting to wise up to gamestop's predatory pricing tactics. They could go under and I wouldn't care, they're springing up like starbucks around here and the employees seem clueless and disinterested half the time and only interested in pushing preorders and subscriptions.
I think it's garbage when I can go online or even down the road to a smaller chain (Hastings) and pick up used titles for sometimes half the price they want.
if it's 30$ at gamestop, it's 15$ at hastings, and even less than that online, but sometimes instant gratification is what I want.
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I think it's garbage when I can go online or even down the road to a smaller chain (Hastings) and pick up used titles for sometimes half the price they want.
if it's 30$ at gamestop, it's 15$ at hastings, and even less than that online, but sometimes instant gratification is what I want.
Posted: Jan 8th 2010 5:31PM Faceless Troll said
Could we start getting opinions from someone besides Michael Pachter?
Reply
Posted: Jan 9th 2010 2:12AM (Unverified) said
Shauk has it dead on.
I was once a pretty solid Gamestop customer... but, over time you start to notice that if you are buying any 2 or 3 items, you would have saved $10-20 at Wal-Mart or even more Online or at a real store...
$5 on the Wii Motion Plus was a foolish move, as were many other device pricing movies they had. Also, selling your old games on EBay nets you like 200% more cash than GIVING them to Gamestop at less than $10 a pop on average.
Oh, and, making the PC gaming section a tiny island with one side was probably a bad idea, too. Best Buy carries more PC games, and they aren't even a game shop.
Not 100% their fault though, the game industry for PCs isn't doing so well, and stocking 80% shovelware from PS3, Wii, and XBOX360 has to hurt profits as people simply use Metacritic or similar source to identify what's trash and what's not before stupidly sinking $50..
I would imagine you could run a store that earned more profit by not even stocking C-grade titles and below.
www.judgex.com
Reply
I was once a pretty solid Gamestop customer... but, over time you start to notice that if you are buying any 2 or 3 items, you would have saved $10-20 at Wal-Mart or even more Online or at a real store...
$5 on the Wii Motion Plus was a foolish move, as were many other device pricing movies they had. Also, selling your old games on EBay nets you like 200% more cash than GIVING them to Gamestop at less than $10 a pop on average.
Oh, and, making the PC gaming section a tiny island with one side was probably a bad idea, too. Best Buy carries more PC games, and they aren't even a game shop.
Not 100% their fault though, the game industry for PCs isn't doing so well, and stocking 80% shovelware from PS3, Wii, and XBOX360 has to hurt profits as people simply use Metacritic or similar source to identify what's trash and what's not before stupidly sinking $50..
I would imagine you could run a store that earned more profit by not even stocking C-grade titles and below.
www.judgex.com
Posted: Jan 8th 2010 6:44PM (Unverified) said
amazon is cheaper and doesnt require a deposit for pre-orders. adios gamestop
Reply
Posted: Jan 8th 2010 6:57PM deathxrebirth said
Hmmm... 50 shares of Gamestop right now or down payment on a new car...
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