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GameStop concludes fiscal year with net loss, CEO calls 2012 a 'challenging year'

Joystiq: GameStop announced the results of it 2012 fiscal year (ending Feb. 2, 2013) today, with revenues of $403 million, which is slightly down from the $405.1 million in fiscal 2011. Due to "restructuring, impairment and debt retirement expenses of $680.7 million primarily related to goodwill impairment," the company saw a net loss of $269.7 million (2011: net earning of $339.9).

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USMC_POLICE1214d ago

Yea because you don't price match, your prices are higher than competitors. To name a few

darthv721214d ago

it was certainly a winning year for me. I was able to fill in plenty of back catalog holes on ps2, xbox, gc, wii, 360, ps3 and even dreamcast.

it had been a long time since i saw a DC game at GS but I had to get it when i did.

Seems now they are phasing out used PS2 and PSP games. some stores have already done that like they did with no longer carrying used xbox and cube games.

Aznreddneck811214d ago

Good I hope they go bankrupt.

just-joe1214d ago

I'd rather they change their business practices for the better and not have people lose their jobs.

Murad1213d ago

I actually disagree. Today's economy outright sucks, and will most likely suck, because well, we are pretty stupid as people and trying to conserve money, or making sure to place money where it would give us the best benefits as a whole, rather than an individual. However, beside the point. I disagree because Gamestop treats their employees like shit. Terrible work hours, very little pay, and what's worse is that you know you're screwing someone over, and if you try to stop if, you're going to get fired. There's downright no reason to work there, even if you are broke, since guess what? 8 dollars an hour is still considered being broke.

just-joe1213d ago

@Murad
If there's no reason to work there, then why do people still work there? No one forces the employees to work there, they do it out of choice because they generally need the money. They can quit if they want but most choose to keep it because they need the money. Losing a job be it good or bad when you don't another lined up is NOT fun nor any better for a person.

jeeves861214d ago

Yeah, because that's just what everyone needs, more people without jobs.

Khordchange1214d ago

Its gonna be a rough road ahead considering that the wii u, PS4, Xbox 720, 3DS, and Vita will or all have downloadable game features

profgerbik1214d ago (Edited 1214d ago )

Only reason I want them open is so I have a place to pre-order. I don't like waiting for mail or dealing with the problems of an item not being shipped when it said it was. No other game stores or any where else to pre-order around here other than Gamestop.

Postal service blows now a days, I swear every time I order something it is never here when it says it is supposed to be. Comes days later after the tracking said it was delivered a long time ago..

Roper3161214d ago

sorry to hear you have such issues, I switched over to Amazon the beginning of this gen because they were always offering 10-20 dollar credits for pre-orders where GS wasn't. While I may not have gotten my games on release day I would always receive them about a week later without a issue.

I would say that since I switched over to Amazon I have gotten at least 15 games for free probably closer to 20 just on pre-order credits alone. Then I usually get a email saying I got a credit for like another 1-2 dollars for their lowest price guarantee.

SolidSystem1214d ago

I love using Amazon for my pre-orders. I get home from work and boom there it is.

ZeekQuattro1214d ago

This is to be expected. I only recently went to Gamestop last September. Before that I hadn't been in one since late 2007. The only reason I remember that was because when I went in they told me my Power Up card expired 5yrs ago. lol I know I'm not the only one to take my business elsewhere over the years. In many cases other businesses over better prices and more cash back if you trade in.

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