Moves to kill console drives could off GameStop

Stefan Mileschin · 11th September 2020, 11:35

Last straw after poor results

Moves to kill off drives in consoles could be the last straw for retailer GameStop.

The latest quarterly earnings report from GameStop doesn't show much sign of a turnaround for the long-troubled game retailer.

Sales were down 26.7 percent year over year for the April through June quarter. Even accounting for permanent store closures and COVID-related reduced operating hours, so-called comparable "same-store" sales were still down 12.7 percent year over year.

GameStop's already depressed stock is down nearly eight percent on the news, as of now. GameStop still publicly sees an "opportunity to capitalise" on the upcoming release of new Sony and Microsoft consoles, which could help turn its business around in the short term.

But doom in the shape of the coming generation of consoles could actually make GameStop's long-term prospects worse, thanks to console options that get rid of drives.
https://fudzilla.com/news/gaming/515...d-off-gamestop

11th September 2020, 11:35	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,650	Moves to kill console drives could off GameStop Last straw after poor results Moves to kill off drives in consoles could be the last straw for retailer GameStop. The latest quarterly earnings report from GameStop doesn't show much sign of a turnaround for the long-troubled game retailer. Sales were down 26.7 percent year over year for the April through June quarter. Even accounting for permanent store closures and COVID-related reduced operating hours, so-called comparable "same-store" sales were still down 12.7 percent year over year. GameStop's already depressed stock is down nearly eight percent on the news, as of now. GameStop still publicly sees an "opportunity to capitalise" on the upcoming release of new Sony and Microsoft consoles, which could help turn its business around in the short term. But doom in the shape of the coming generation of consoles could actually make GameStop's long-term prospects worse, thanks to console options that get rid of drives. https://fudzilla.com/news/gaming/515...d-off-gamestop

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