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GameStop's profit forecast disappoints, shares fall

GameStop Corp forecast worse-than-expected earnings for the crucial holiday quarter, dashing hopes that new game consoles from Sony Corp and Microsoft Corp will fire up sales for the U.S. videogames retailer.

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finance.yahoo.com
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PoSTedUP1458d ago (Edited 1458d ago )

Patcher: "invest your stocks in GameStop". thanks again, Patch... youre such a Good analysis given your track record...

Sony has struggled with their stocks, but given a (predicted) sucess for the ps4. it would be likely that their shares are going to rise. i think they are at 20-something dollars right now.

ELpork1457d ago

Read the whole thing dude, their still soaring in profit. They've been cutting hourly staff in favor of the slave labor salary people.

Next year will probably be even better for them... Remember, everybody wanted used games, that's why you all cheered at the Sony E3 press conference.

PoSTedUP1457d ago

i did. i think its going to be even worse next year. its worse than they expected after gta5 and cod, ps4 and xbox one. its also going to get even worse because there is no wii-like console like last gen but practically one less console (wiiU doing extremely poor). next year no gta, no cod (i dont think). and a stronger rise in digital games plus a big increase in mobile games as well. these are just a few, but, significant factors, imo.

ELpork1457d ago

Their profit rose once they started selling digital, as well as cellphones. As long as they keep cycling employees and practices.

PoSTedUP1457d ago

gamestop makes most of its revenue off of used games, the majority arent going to buy digital from GS, and the more digital copies equals less used games for GS (just another reason why next year is going to be worse for them). just u wait and see... ; )

ELpork1457d ago

ehh, I heard that every year I worked there, and every year their profits continued to go up... Probably more so now that people are going to be trading in all of their old stuff to get other stuff.

All you'll hear about next year is crazy trade promotions for your things... 6 years experience don't lie ma mang!... Christ.... 6 years... How am I still alive after that?...

Must. do. soul. search.

PoSTedUP1457d ago

i wouldnt have said it last year or the year b4. '14 looks a lot different imo. hey, i could be wrong, and id admit it if i am. i guess we'll just have to wait and see. ill see you around here, my man. cheers.

+ Show (2) more repliesLast reply 1457d ago
cell9891457d ago

Amazon had a play in this

sunnygrg1457d ago

As much as I like supporting businesses in my area, when the GS manager asked me if I had pre-ordered the PS4, I had to tell him that I would rather spend the money saved on tax on a new game by ordering from Amazon.

In the end, I managed to save $45 which will pay for my Plus renewal.

cell9891457d ago

I agree, on top of that Amazon offered that sweet deal where if you buy 2 PS4 games you'd get the 3rd for free, all with no tax charges either. I jumped on that deal immediately, sure not everyone did cause 2 games in one shot dont come cheap, but to me it was a great deal.

I also said I had mine preordered through amazon, to which the gamestop employee said"but we are launching at midnight" I just responded, to me its easier to wait for my new system at home, I hate waiting long lines. He wanted me to preorder PS4 games and mentioned Amazons 2 for 1 sale, He did not bother me anymore...

sdozzo1457d ago

Between online and digital these guys are screwed. I know Gamestop has their own digital but just can't compete.

Jovanian 1457d ago

yes! let it die! No more stupid preorder content being locked away

mananimal1457d ago

Gamestop cannot compete with Amazon used games prices, its been 4yrs since ive been to a Gamestop, Gamestop is a complete ripoff.