GameStop Wants To Be The ‘Social And Cultural Hub Of Gaming.’ Can It Deliver?

Share to twitterGameStop stock declined Wednesday after it reported disappointing quarterly results. On GameStop’s quarterly earnings call late Tuesday, the top video game retailer’s newly minted management team spoke with “urgency” about making the company relevant in the world of digital gaming.

He has assembled a new management team, is inking more partnerships with esports teams and players, has revamped the company’s website to push online sales and is testing store concepts, including those that feature competitive sessions among home-grown esports leagues. He’s also introducing ways gamers can try new titles before they buy them.

But there are skeptics on whether management can deliver on its turnaround plan. GameStop shares plunged 12% to $4.46 early Wednesday afternoon—a 90% slide from a peak about four years ago—after it reported a bigger-than-expected fiscal second-quarter loss and sales drop and lowered its revenue outlook for the year.

Its bread-and-butter categories, which together accounted for about two-thirds of the company’s business in the quarter, all declined: New video game hardware sales slumped 41%, game software sales dropped 5.3% and pre-owned video game sales slid 17.5%.

Maybe they should collab with Subway and form an internet cafe. All I know is somebody needs to merge with Subway so they have the financial backing to return to the glory days.

Never billion nano seconds.

Never gonna happen. GameStop's reputation of ripping off their customers is beyond repair. I won't shop there. They also aren't needed with downloadable games.

These CEO that signed letters for Senate Restrict Rights on Guns think if they sign this to support Democrats they will be favored when Government Control of Corporations is takes over by Democrats.

Depends on what the trade in value is.

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