GameStop To Close At Least 320 Stores In 2020

Video game retailer GameStop says it will close at least 320 GameStop stores globally this year. The news was announced by GameStop’s executive vice president and chief financial officer Jim Bell during the company’s recent earnings call. Here’s what Mr. Bell had to say:

“We continue to focus on optimizing our global store fleet in fiscal 2019 and closed a net total of 321 stores inclusive of 333 closings and 12 openings. In fiscal 2020, we will continue in our efforts to de-densify our store base, focused on maximizing product productivity of the entire fleet,” he said.

“[We] anticipate store closures to be equal to or more than 320 net closures we saw in fiscal 2019 on a global basis. Importantly, we want to emphasize that these store closures are a very specific and proactive part of our de-densification plan and they are not related to recent business trends.”

GameStop Closing All Stores Temporarily Due To COVID-19

As of Sunday March 22, 2020, GameStop will temporarily stop customer access to storefronts, processing orders on a digital only basis, moving to curbside pick-up at stores and eCommerce delivery only. This will allow the Company to continue to serve customers who have purchased online at GameStop.com and the GameStop app and have requested a product pick-up at their local store.

George Sherman, GameStop’s Chief Executive Officer said, “This is an unprecedented time and each day brings new information about the COVID-19 pandemic.  Our priority has been and continues to be on the well-being of our employees, customers and business partners. We have been steadfast in our adherence to CDC-guided safety and local government orders for retailers in each of our communities. As millions of Americans look to GameStop to adjust to their new normal of increased time at home, for work, learning and play, we have implemented practices to help ensure the safety and health of our employees, customers and partners.  We believe it is prudent to institute further safety protocols while meeting this increased demand through curbside pick-up.  As such, stores that remain in operation will provide only pick-up at the door or delivery to home activities to further protect our employees and customers.”

The Company will continue to offer its products online at GameStop.com and on the GameStop app for customers to have their products shipped directly to their homes.

All U.S.GameStop employees have been ensured that they do not have to work if they are not comfortable and should stay home if they feel sick.  Additionally, the Company has announced it will pay all U.S. employees whose hours have been eliminated an additional two weeks at their regular pay rate based on the average hours worked in the last 10 weeks.  In addition, the Company will reimburse all benefit eligible U.S. employees, one month of the employee portion of benefit expenses.

Reggie Fils-Aime To Join Gamestop’s Board Of Directors

GameStop has announced that former Nintendo of America president Reggie Fils-Aime is joining GameStop’s board of directors. His job will be to turn around the company’s fortunes.

“The board refreshment and governance enhancements announced today represent an important milestone in GameStop’s transformation as we continue to evolve the company’s business strategy for long-term success,” GameStop chief executive George Sherman said. “We are pleased to welcome Reggie, Bill, and J.K. to the board. They are each highly qualified and bring significant, relevant experience to our turnaround. We look forward to immediately benefitting from their expertise and perspectives as we navigate the evolving gaming and retail environments, execute on our strategic initiatives and prepare the Company to maximize value-creation associated with the next generation of console launches later this year.”

GameStop In Talks With Buyout Firms

According to a report from Reuters, video game retailer GameStop is currently in talks with a number of buyout firms. The news organization reports that GameStop is in the midst of holding talks with private equity firms about a potential transaction after receiving buyout interest. The company has suffered terribly due to changing consumer habits for video games, with many people purchasing games digitally and new services like Xbox Games Pass hasn’t helped matters for the company.

“The retailer’s stock has slid more than 32 percent over the last 12 months, bringing its market capitalization to $1.42 billion, down from about $9.4 billion in 2007.”

The New God Of War For PS4 Is Getting A Collectors Edition

GameStop revealed that the new God of War is getting a collectors edition titled Stone Mason Edition. The God of War Stone Mason Edition. The Stone Mason edition includes a physical copy of the game, a steelbook case, and a 9" statue of Kratos and his son Atreus. Also included are several small 2" carvings and a keychain, as well as a lithograph and cloth map. Digital contents include several in-game shields, an armor set, a dynamic PS4 theme, and a digital comic and artbook by Dark Horse Comics. The full special edition costs $149.99 and is currently available to preorder.

GameStop Suspended Its PowerPass Used Game Rental Service

GameStop’s new initiative to have a games rental service has been suspended for the time being. The company said in a statement that it has identified some limitations to the service so has halted the service. Speculation has come about suggesting that the company’s outdated computer system isn’t capable of handling the new program. Those who already subscribed to the service will be refunded. Here’s the statement.

“We have elected to temporarily pause the roll out of the new PowerPass subscription service, based on a few program limitations we have identified. We feel this is the right thing to do for now to ensure we are able to provide our guests an exceptional service.”

GameStop Announces Play Pass

GameStop is launching a subscription plan called Play Pass. The new service allows you to rent used games from the company for six months for $60. At the end of your rental period you can keep your last game. It’ll be interesting to see if this catches on. The price doesn’t seem bad, but availability of titles might be the make or break for this. Thoughts ?  

GameStop Getting More SNES Classic Stock “Very Soon”

The SNES Classic sold out extremely quickly in the US. However GameStop says that stock will be replenished very soon. The news comes directly from GameStop Senior Vice President of Merchandising Bob Puzon:
“Nintendo has done it again! Customer demand for the SNES Classic was just like we expected. We sold out of our SNES Classic inventory within minutes in both our GameStop and ThinkGeek retail channels. But customers shouldn’t worry. We’re getting more very soon. Once we do, our customers will be the first to know!”

GameStop Lists 2 Unannounced Games For The Nintendo Switch

It appears that GameStop has posted 2 Nintendo Switch games easy on its website. Listings for Cartoon Network Battle Crashers and Monster Jam Crush It, both of which will be published by CokeM Interactive and released this October. These aren’t huge titles by any means, but it’s another sign that the Nintendo Switch’s library is growing.

Nintendo Switch Will Be Back In Stock At GameStop Soon

GameStop has announced that the Nintendo Switch will soon be back in stock. This comes just in time for Mario Kart 8 Deluxe which launches this Friday. The Nintendo Switch restock is in-store only and units won’t be available online according to Polygon. 

“The Switch is $299.99. GameStop is offering a $200 credit toward one with the trade-in of a 32 GB Wii U, PlayStation 4, Xbox One or Nintendo 3DS. The trade-in offer is good through Sunday, April 30.”

GameStop Investigating A Possible Breach

GameStop may have been targeted by hackers attempting to steal credit card details from customers via its website. The attack happened by intruders between September 2016 and February 2017. Krebs on Security reports that compromised data is thought to include customer card number, expiration date, name, address and card verification value (the three digits on the back of your card).

“GameStop recently received notification from a third party that it believed payment card data from cards used on the GameStop.com website was being offered for sale on a website,” a company spokesman wrote in response to questions from this author. “That day a leading security firm was engaged to investigate these claims. Gamestop has and will continue to work non-stop to address this report and take appropriate measures to eradicate any issue that may be identified,” the company’s statement continued. Thoughts ? Best keep an eye on your credit card info folks. 

GameStop To Close Over 100 Stores

According to CNN Money, video game retailer GameStop is set to close 2% to 3% of its stores. This means that around 190 stores could shut down. The company blames a lack of big titles towards the end of last year and the fact that Sony and Microsoft didn’t launch new consoles, which doesn’t quite make sense as the PlayStation 4 Pro and Xbox One S were released.

“At the core of GameStop’s issues: It’s not selling enough video games. CEO Paul Raines said in a statement Thursday that “the video game category was weak, particularly in the back half of 2016.” That’s because the biggest names in gaming — Playstation maker Sony (SNE) and Xbox maker Microsoft (MSFT, Tech30) — haven’t updated their consoles in a while, Raines said. That creates a lag in business for retailers like GameStop”.

GameStop Is Expecting Nintendo Switch Shortages All Year

GameStop chief operating officer Tony Bartel recently spoke to investors during a post-earning conference call. He told people about chasing supply of Nintendo Switch. He said that “the demand is incredibly strong for this. As soon as we get any in our stores, it’s out within hours. We anticipate we’re going to be chasing supply this entire year”. It’s another sign that the Nintendo Switch is selling more than expected, and an indicator that people who want to buy a Switch may not have an easy time doing so for the rest of the year.

GameStop Getting More Nintendo Switch Units Very Soon

If you haven’t been able to get your hands on the Nintendo Switch then you will be glad to know that GameStop has announced it will have stock next week. Wednesday (the 22nd) is the day when you can pop in store and grab a unit. You won’t have to buy it in an expensive bundle either, so that’s a plus

“GameStop continues to see strong demand from customers who are looking to purchase the Nintendo Switch system. We are meeting this demand by securing additional systems as fast as we can to ensure customers are able to purchase this innovative gaming technology,” said Eric Bright, senior director of Merchandising for GameStop, in a statement. “The customer enthusiasm and response we have seen so far has been incredible as we continue to sell through our supply of systems. We strongly suggest any customer who is still looking to purchase a Nintendo Switch, visit one of our stores as soon as they can. This new allotment will go fast!”

GameStop Will Have Limited Supply Of Nintendo Switch Units In Store At Launch

As we already know, the Nintendo Switch will be a hot item once it launches on March 3rd. GameStop has confirmed that supplies of the console will be limited for those who walk in store at launch to purchase one. This is pretty standard for a console launch but it’s going to be tough news for those of you who have yet to pre-order. GameStop has also confirmed that they will offer “a very limited supply” of two bundle packages online. The Legend of Zelda: Breath of the Wild, and a Nintendo Switch Pro Controller for $429.99. The other bundle includes all of the previous items alongside the official strategy guide for Breath of the Wild which totals $454.99.

GameStop Will Pick 1,000 Customers To Pre Order The Nintendo Switch

GameStop is giving gamers another chance to secure a day one purchase of the Nintendo Switch. Throughout the day tomorrow, February 11, the retailer will be randomly selecting customers to pre-order one of 1,000 Nintendo Switch consoles, all of which will be available for pickup at launch on March 3. Read on below for GameStop’s statement in regard to this process:

“Tomorrow only, guests can stop by GameStop for a chance to pre-order one of 1000 Nintendo Switch consoles, which will be available at launch on 3/3. GameStop stores and guests will be selected at random throughout the day on Saturday. They just walk in and ask and don’t have to purchase anything. Also, it’s zero money down.”

Sounds awesome for those who didn’t get the chance to pre order. But, why not just let the 1,000 systems be regular pre orders ? Thoughts ?

GameStop Listing For Telltale’s Guardians of the Galaxy Provides New Details

During The Game Awards 2016, Telltale announced that it was working on a game based on Marvel's Guardians of the Galaxy. If a retailer listing is to be believed, we may additional information on what to expect. According to a GameStop product listing for the game, it's an all new story

“Marvel's Guardians of the Galaxy: The Telltale Series delivers a brand new story of the universe's unlikeliest heroes, the rag-tag band of outlaws who go by the names Star-Lord, Gamora, Drax, Rocket, and Groot. In the wake of an epic battle, the Guardians discover an artifact of unspeakable power. Each of the Guardians has a reason to desire this relic, as does a ruthless enemy who is the last of her kind, and who will stop at nothing to tear it from their hands. From Earth to the Milano to Knowhere and beyond, and set to the beat of awesome music, this five-part episodic series puts you in the rocket-powered boots of Star-Lord in an original Guardians adventure, told in the unique and award-winning Telltale style, where your decisions and actions will drive the path of the story you experience.”

It ain’t much, but it’s at least something. Thoughts ?

Did GameStop Germany Just Leak Details About The Nintendo Switch Launch ?

As the Nintendo Switch presentation draws ever closer, more leaks are starting to pop up. This time it seems that an employee from GameStop Germany has snapped a picture of the Switch’s launch line-up. Retailers often prep for launches with pre-order SKU’s to ensure that stock is allocated to each branch accordingly, you can see them below. Zelda: Breath Of The Wild, Skyrim, Mario Kart 8, Splatoon, amongst others are listed for a release date of March 19 which falls within the frequently-reported March global release of the machine itself. However, the 5 ‘Placeholder’ items on the list would insinuate that there is some Switch software/accessories/bundles that GameStop haven’t been informed about yet. We won’t know for sure until a few days time, but it’s encouraging to see some of the big players in the retail sector preparing for Nintendo Switch orders. Thoughts ?

Finding A Nintendo Switch At US GameStops Could Be Difficult

US consumers could run into issues looking for the upcoming Nintendo Switch in March, If the latest Nintendo Switch rumor is to be believed. A GameStop insider apparently said that getting the Nintendo Switch at launch will pose to be a difficult endeavor as the majority of GameStop stores won’t be allocated enough stock to fulfill demand.

“Our inside source, the same source that gave us the info on the advertising and stuff like that. He said “Getting the switch at GameStop might be a bit of a difficult endeavor because it seems that, not all, but a good majority of GameStop stores are not going to have to many switch units to go around” Any one else getting false backs of the Wii days ? I really hope this isn’t true, but knowing Nintendo’s track record I could believe it. Thoughts ?

Nintendo Switch Pre-Orders Rumored To Start On January 13

It looks like you might be able to pre-order the Nintendo Switch sooner then you think. It appears that GameStop will begin accepting pre-orders on Friday, January 13. Although this is just a rumor for now, this isn’t too crazy to believe as the pricing and launch details will be revealed prior to this date. The Nintendo Switch Presentation 2017 is set to take place next Thursday, January 12, and you’ll be able to watch it live at 8PM PT/ 11PM ET via Nintendo’s website. Thoughts ?