I know its a rippoff but when i want a game i want it now!! i only trade in games that i dont play anymore.. resident evil 5 was not good to me it was hard to move and view the area it was basically a no brainer game and the cpu partner kills all the enemys for you
World's largest game retailer reports record Q1 earnings of $1.98 billion, but lowered full-year guidance sends shares southward.
In the business world, the creed "what have you done for me lately" is more accurately put as "what are you going to do for me tomorrow." Today, GameStop is feeling those words, as while the world's largest specialty game retailer posted record first-quarter earnings, a downwardly revised second-quarter and full-year forecast has sent its stock plunging nearly $4, or 15 percent, to $22.53 per share as of press time.
Reporting today on its fiscal quarter ended May 2, GameStop said revenues rose 9.2 percent to $1.98 billion, up from the $1.81 billion the retailer brought in a year ago. Profits saw a similar hike during the three-month period, climbing 13.4 percent from $62.1 million to $70.4 million.
On the back of that strong performance, however, GameStop said that its second-quarter earnings would come in below previous expectations. Comparable store sales are now expected to fall 8 to 11 percent during the period, compared to growing 20 percent a year ago. Earnings-per-share guidance was also lowered to between $0.28 and $0.33 from $0.34 a year ago. GameStop also expects full-year comparable store sales to be flat, backing off previous expectations of 4 to 6 percent growth.
"In the second quarter, like the first, we face very strong comparisons to the prior year period due to the unprecedented number of blockbuster titles released in the first half of 2008 and a significantly more brittle global economy," GameStop CEO DeMatteo said in a statement, echoing comments made by NPD analyst Anita Frazier last week.
As for those tough comparisons, GameStop said that its top sellers during the period were the Nintendo DSi on the hardware front--which moved 435,000 units in the US during its first week--and Capcom's Resident Evil 5 and Street Fighter IV for software. However, GameStop noted that those releases were unable to hold a candle to 2008's top performers, Take-Two's Grand Theft Auto IV and Nintendo's Super Smash Bros. Brawl.
I love GameStop but I will admit I traded MotoGP 2 on the PS2 back to GameStop and I got $2.25 for it. A week later I saw that same game for sale fo $9.99. That is rubbish. I will buy GameStop's new games and their used games but I will never trade in another game to them.
I have worked for gamestop before and I hated when I had to tell people to reserve, reserve, and reserved. This is why gamestop makes money also because of reserving title. Yeah i admit I trade in games but only when there is a 40-50% trade in more credit so i can get more for my games. Gamestop does suck to me but it is the only place where I can get some old school games for cheap price. Yeah some old school games for consoles like ps2, gamecube, and xbox. The trade in value is stupid for some games but gamestop makes money on used game. A brand new PS3 or 360 game is sold for $60 but the real retail price is $55 so gamestop gets a $5 profit. When you trade in a new game, you will usually get 25 or even maybe 30 for it if no one really trades in that game (and yeah this is store credit cash is 20% less which sucks big time). The game that has been traded in will be sold at original full price $55 and that is how game stop makes money and rips you off. When you usually walk in gamestop they will ask you about 10 different questions before you even make a purchase to get more money out of you. That's how the system works and I hated working there because you where forced by the company to get as many reserved or you didn't get more hours to work. It was a fun place to work at if your a gamer and know so much stuff about game but working for gamestop sucks. The company makes billions will employees get paid low wages. And at outlaw get your money back I think if you want a new game then you should get it new and wrapped not opened and some one played it before you.
I stopped trading in games years ago to that corporate monster. Sure buy there, but never trade in because you will get raped.
If your going to complain about Gamestop, you better start complaining about every other successful company out there. Gamestop's business model works and that's why they are still around. Your complaints are very silly if you actually think about them. Trade values: If you buy a game and are done with it, then you got you money's worth out of it. Then anything you get back from it is a profit. If you didn't get your $60 worth of fun, don't blame Gamestop for you bad choices in games. Used Product: Why buy new? You get the same product for less, sounds good to me? I buy used all the time from Gamestop and never have a problem. If I save 5 or 10 dollars every time I buy a game, think of the total savings in a years time. Another important point is they are an American company, employing American workers and we need more of that. It takes one guy to run a web based store and Gamestop employs thousands of people all over the US. Do you really want to see another company go away and more people without a job.
gamespot, meh.. once in a blue moon they have an abundance of overstock that they have to get rid of. i like those time's. got into rainbow 6 vegas that way, because it was only like $9. other than that, they're used game prices are crap. generally, i can go on amazon and by it used for far cheaper. don't get me started on their trade in money for games: sucktastic. also, i'm sick of gamespot employees giving people attitude for trying to sell back ps2 games. you can totally be nice about saying 'we have enough stock on a particular item & we can't buy that back from you' than what they usually say. finally, gamespot employees: i don't need you're input on a game unless i ask for it!!!! i know what i'm getting when i buy a title like bullet witch, & i definitely don't need you trying to tell me i'm a looser for buying it!!!!
kris024- you, my friend, are being followed by the government as we speak. we know everything about you. we're coming for you- then we will BECOME you.
I think Gamestop is ripping people off and people are enjoying it. I do not trade games in of the ones I buy. They give you nothing for trade in. Amazon gives you a better match at least but it is still where these retailers make their money. I prefer other online retailers such as family video where I can get games sometimes 25% less than gamestop...
Gamestop is a great place. This is the only store I will buy used games from because I get a discount and I can always trust them as their used games always work and I never have any problems from them.
@ taylormadederek Gamestop isn't the issue; even if the case was that the employee rented the game, only managers can rent games that aren't out yet, and even then the manager "should" never allow an employee to rent a pre-order game. Don't blame the entire company on a few bad apples.
@Mastif I'm with you. Once digital distribution and online ordering ramp up in gaming, Gamestop will wind up like Blockbuster. At this point, I prefer PlayNTrade more, anyway. Simply for the Old School goodies that I'd normally have order and wait for via Amazon.
@outlaw the employees can "borrow" games, including new ones, before release. so thats what happened.
Wow, 70.4 million dollars. Let me restate that again, SEVENTY POINT FOUR MILLION DOLLARS. Thats in one quarter. 85 percent of the nation wont even make half of that in their lifetime, so once again let me go cry gamestop a river.
anobleloss is right Just recently I got Sacred-II (Super Addictive game) bought it for $60 brand new.. but there wasnt any laminate wrapping on it anymore.. just a sticker folding over where it opens saying "New game" hahaha! It was a Pre-Order copy that was supposed to have a code for content, but it magically wasn't in there.. I guess they just.. forgot to wrap this game and include the pre-order goodies! :P
Corporations are making money. The weird part is if they make two bucks less than they did the year before then they call that a loss even though they still made truckloads of money. As for Gamestop I have never had any problems with them and there are 5-6 in my area. The undisputed champion of bad business was the now out of business BuyRite video games whom we in the area referred to as SlimeRite. They were evil incarnate
@ beachdreamer Well they did only make 70M profit, that is a lot but still. Remember that Microsoft makes about 3 BILLION profit a quarter. So 70M not so much anymore is it. \ \ I do not like Gamestop...I hate their policies and their promotions....I do not shop there and I doubt that I ever will. They have no where to go buy down and then out. SEE YA!
Wow, they only made 1.98 billion, let me go cry a river. Seriously, you gotta be kidding me. Let me restate that, ONE POINT NINE EIGHT BILLION, for the love of god.
People just keep donating money to Gamestop, do you all like to be ripped off? You can buy cheaper & sell higher in several other places all the time.
I used to refuse to pay for a gutted game because of bad experiences and "who-gives-a-****" employees. But that was once in a blue moon because paying $60 for a game now is ridiculous. In a month or two they can be gotten for $40 or less. MSRP on games is out of touch. Gamestop's used prices are insane. But they have a monopoly of video games nearly everywhere (as a specialty store, not counting big retail), so internet/credit-challenged people pay out the ass to get their stuff there. eBay, Amazon, Goozex, DLC, DRM, etc... brick and mortar is fading away. Stocks should start dropping when the rest of the world clues in on the future of gaming. Just as Blockbuster is being trampled under the new digital distribution models, so too will Gamestop. Sheisters.
@anobleloss, you sound like a horrible employee, no offence, but just as nate1222 said, some of these people must go to the crap stores. Ive never had a problem with the gamestops ive visited though, and the people working there always seem to be pretty knowledgable and helpful onto whether its worth buying a certain game or not. AndIf you are going to take advantage of your employee status and play un-used games, dont be an a*****e and take care of them... We dont pay 60$ for a scuffed game, we pay for flawless discs.
GamerEternal It's cool. I own Fallout 3 and Oblivion for PC. My laptop (which I'm typing this on) has a ATI Radeon 3150. Therefore, I play them on low visual settings. Even so, they look and play great -especially Fallout 3. I also agree that 'most' new RPGs lack the punch of their Old School brethren. I still own and play FF8, Dark Cloud 2 and Rogue Galaxy. I feel that the latter 2 were badly slept on. I also own Persona 3 FES and plan to get Persona 4. Both of which have very Old School approaches to them. And you're right about newer RPGs being too focused on "ultra realism". I play games for 'escapism'. If gaming ever loses that, it will lose me.
I think its kinda funny the way people keep trying to say that Gamestop is wrong for removing the disc to put it on the shelf on the floor. The reason its done is to prevent loss of the product through theft. Walmart doesn't need to gut games because they have a small enough selection that they can put it into a locking glass case. It seems to me that people who've been posting have Gamestops that really blow, cuz mine always tells you when something isn't worth a lot of credit before they try to finalize thet trade, typically telling people they'd be better off going to Bookman's or somewhere similar. And I've never had problems with scratches or fingerprints on new games. I've also never had problems with them running out of preorder bonus swag. In fact, they still have two GH: Metallica kick pedals that they've are gonna give away. And trade value is crap for everything once you buy it. Its been said in a post before, but its true. If you want a game for a little while and then plan to return it, rent it. You can rent a game nearly 5 times or so from blockbuster without paying as much as buying new, and that's pretty close to a couple months if you use that week grace period (if they still have that).
Here in Cleveland, Ohio there is a place I go called It's About Games, I think it's on Brookpark Road. They deal in NES, SNES, N64, Sega Genesis, Gamecube, and of course, XBOX, 360, Wii, and PS3. Their used prices are always much better than Gamestop as well as their trade-in value and I shop nowhere else. Maybe we all could post the little shops in our areas to get some business to these places and end Gamestop once and for all.
I'm dead serious when I say this, but I worked at gamestop for a good 6-7 months, and we do take new games home and play the mess out of them, and it is possible for the game to get scratched or have fingerprints on it..yet we seal it back sometimes and sale it new.and to the guy that said they are using more cover art boxes for new games..thats a damn lie. We gut about 1-2 copies for a new game, and if its a AAA release we will gut a good 6-8. and yes we do take the codes and the free content your suppose to receive when a customer reserves a game..and their trade in value is trash for some new games, but I try to tell people the best way to work the system is buy a used game...and try to beat it in 7 days, you'll guaranteed to get your money back within that time frame. GS is a business and they are going to do whatever is necessary to make a profit, you cant knock the hustle..
Nate Sorry, I forgot about Fallout 3. I have' nt even played it and I already know it's going to be badass. I want to so bad and I did really enjoy Super Paper Mario. As for everything else on the 360, Eternal Sonata, Blue Dragon, I mainly hear oh that's OK. As for ME, to be fair, I have'nt given it much of a chance but right I'm so sucked into the world of Rapture that's kind of hard to. Still, I still think RPG's as a whole are always better old-school but maybe it's just my age getting to me and besides I did have so much fun with Marvel:UA and am eagerly awaiting it's sequel. One game I would love to see, a 360 Persona, why won't Atlus make one??? Any thoughts, Nate??
@GamerEternal Not all of the current RPGs suck. Fallout 3 is awesome and Fate (PC) is decent (I own the download version via WildTainment).
i frequently go to my local ebgames, which i believe is affiliated as they offer all the same exclusives as gamestop. the only purchasing i do are preorders on titles i want on release day, or cheap 2nd hand games. whenever i see they have their 2nd hand copy for $5-10 less ill buy it new. their trade in prices are not always rip offs, i have found that they fluctuate like stocks. for example: i bought ps3 deadspace and then saw it was coming to pc. since i am a hardcore gamer, i have a sweet gaming pc, i prefer my games on pc w/keyboard and mouse. a few days after release it was worth $10. 2 weeks later i broke down and realized that i was never going to play ps3 dead space over pc dead space so i decided to take the $10, but by the it was worth over $30 on trade in, over half my cost.
@Nate1222 I agree, Play n' Trade is definitely better than GS (Forgot about them). Probably because where I live, they don't have one yet but I also wish that they still sold retro games and even moreso, wish I never sold the systems that I sold but at least I kept my PS1 copy of Grandia, FFT, FFC and FFA but I wish to God I never sold my two Lunar games. On an unrelated note, why do nearly all the current-gen RPG's suck. I have Lost Odyssey which is ok and Mass Effect is kind a boring I loved Fable II and Marvel:Ultimate Alliance but as much progress as the main developers claim to be making, is it just me or were the oldschool (FFVI, FFIV, EB, CC, Lunar's,BOFII, Suikoden) way more fun than these ultra-realistic RPG's??
@GamerEternal Agreed. I can't really blame GS employees for the crappy prices. It's not their call and they're clinging to their jobs like anyone else. But I really hated it when they stopped carrying games for 'retro' consoles (NES, SNES, Genisis, N64, Dreamcast, PSOne...). From that point on, PlayNTrade gained alotta cool points with me for contiuing to support retro gamers like myself. I still own a SNES and enjoy some of the PSOne's library.
mm well even the crisis people lose there jobs and turn to games great 4 the workers so i think they r lieing to get more money.sorry my opinion last month i heard they da best buissness making the most money now adays
yes. It's all true. Gamestop employees open every single new game, scratch them up and sell them as new. Even PC games. They steal all the keycodes and use them and then resell them. And then when the code doesn't work, they say no refund. They also think they're better than you. And if they ever get trades on NES, SNES, etc. stuff, they punch the person in the face and laugh at them. They also beg for reserves and if you don't reserve they call you republicans. Oh, and then they punch babies and kick dogs when they're not at work.
I don't know about ya'll but I've been buying games from GS for nearly ten years or so, whenever the hell FuncoLand turned into GS. Yeah their trade-in prices sucked. I recently called about Wolverine's trade-in money, not credit and I was told like fifteen bucks. I replied that the guy who sets the prices needs to be shot, they agreed.... Anyways, for me GS (spite their problems is still the way to go). Wal-Mart and the other game stores don't even take games, pawn shops give less than GS and selling back online is risky (for me at least). All I can say is do your research and if you can buy a brand-new game, used, at least then you can take it back and get the full amount for it. Other than that, this is not just games it's the ****ing world, nothing is worth nothing anymore and YOU are not going to get what you paid for anyway, even cars depreciate way too quickly. I've got a hardcover Lunar 2 strat guide that's worth $100.00 on EBAY and that's more expensive than any of my games. Bottom line, the world is going to hell and that's just the way it is, so unless you've got a twenty thousand dollar diamond ring or a nice home to sell, you won't get much for anything and remember one last thing, nobody ever said gaming was a cheap hobby. L8rs. Jus
When I was younger EB or Gamestop was a frequent destination but years of getting royally ripped off completely drove me away. I only buy from them if a AAA title is arriving with average review scores hitting 9.0 or higher and I basically can't wait for the inevitable price drop somewhere down the line (fallout 3, ect.) I'm not sure if this is true for all the Gamestop stores but the ones in my area have way overpriced new games. Not the brand new games or blockbuster titles that are $60 no matter what retail store you're at, I'm talking about new games in the $30-$40 region. If I go down the street and hit up a few other stores I'll find the same games in the $20-$30 region. It's the walmart age, I thought massive corporate mainframes were supposed to keep most retailers product prices up to date with their actual worth. Particularly giants like Gamestop. Anyway, ebay is great for semi-recent titles and older, at least for me. They sell brand new for damn cheap.
Yeah I work at a Blockbuster part-time and we routinely get GameStop converts because they have a crappy trade-in system. We sometimes give as much as $35 trade credit for used games, one time we gave a guy $12 for one of his games and laughed because he said that the GS down the street was going to pay him $1.50 for that game. GS is so bad, I will never-ever buy from them, ever!
I refuse to buy any new game at GameStop that isn't sealed. It usually means I walk out of there empty-handed. Other retailers are happy to take my money for unmolested copies. If GameStop is going to open a game to use as a display, then it should be sold as used. (Once disc is removed from the case by human hands, it's used.) If they want to have a display copy with the disc removed, then they should suck up the cost of selling it at a "used" price. I'm surprised no legal action has been taken against GameStop for selling used items as new.
whats with all the hate on huge corporations? if there weren't corporations there wouldn't be video games/consoles/tvs to play them on.. seriously, anyone using a computer or the internet has no RIGHT to complain about huge corporations and such. go back to tree hugging, it makes more sense, you hippocrats.. as for gamestop: i don't like ANY companies trade in value system.. other than blockbusters "trade any 4 games for a new game" which is not bad at all.. still not a "good" deal, but 20$ a piece is better than 1$ GS SERIOUSLY offered 2$ for medal of honour airborne less than a month and a half after it came out
Cabal23: Where do you find all you information? Very little of what you are saying can be confirmed or proved. They unwrap every new game? Uh no they don't. I compel anyone reading this to go into a GS and ask to see a new game. Every new game I have ever bought from them was wrapped. They do gut one copy of every game to put a case out on the floor. That process is slowly is being replaced with dvd cases with printed art. Actually, we (heh) usually gut 4 or more copies for new releases. The idea is that we need to have at least one case on display for every title in stock. For a lot of games that aren't terribly recent, we usually only have 1 copy in stock anyway, so I'd venture to say we sell more open games than sealed, unless it's a new release day... in which case, we'll still end up seeling at least 6-8 opened copies. Personally, I've heard nothing about this business of using DVD cases with cover art. We only do that for our "upcoming, reserve this now!" sections. Also, a lot of the time, when you buy a new game, it's been used. Gamestop allows us to product loan games, including new games, which we then bring back and sell as new. Chances are, you've picked up a game that wasn't totally 100% new, though you paid the price as such. As for trade-in values, in my experience, both Blockbuster and Gamecrazy offers as good as or better trade-in values. Usually the latter.
@Cabal 23 You speak of statements that can be confirmed or proved, however you stating that every game you have purchased has been sealed is your experience only. So to counterpoint, you also have made a statement that is simply your experience, and not able to be confirmed. And to repsond to your "compelling" of everyone to go into a GS and ask to see a new game, I would recommend one step further, and ask to see a game that is listed as "NEW" and been released for over 6 months. I only say this because with the release of the titan pack for Unreal Tournament 3(PS3), I went into a GS to purchase the "NEW" game for $19.99. The game was then extracted from a CD slip cover and inserted into the display case I handed the cashier. That certainly calls into question what exactly GS is calling new. Just imagine if an organization listed "new" games typically with a $3-$5 price increase over their "used" counterparts, but in all actuality Joe Consumer is receiving a used copy wherein GS profit margin for that disc would then be greater. If you rinse and repeat that process at multiple locations, that could be quite a substantial profit.
@Onion Tree Where do you find all you information? Very little of what you are saying can be confirmed or proved. They unwrap every new game? Uh no they don't. I compel anyone reading this to go into a GS and ask to see a new game. Every new game I have ever bought from them was wrapped. They do gut one copy of every game to put a case out on the floor. That process is slowly is being replaced with dvd cases with printed art. The reason they don't sell SNES games anymore is the complete lack of working systems and the game don't make any profit. Why would they carry games they are making cents on? Let me educate you on a word used in retail. It is called real estate. The area in your store is the real estate. You only have X square feet to fit a lot of things into. What GS have you been in lately that had tons of room? None is the answer. They are all overstocked and packed to the gills They don't have room for stuff no one buys and they are making cents on. It is a fact. same reason they are phasing out PC. Very little money is being made on them. There a handful of SNES, NEs games that go for $20. Half of the games like that get returned because they don't work. Have you every tried to inventory 700 SNES games? DO you know how many man hours that adds to an inventory cycle? For what so one or two SNES games a week can get stolen or sold out. You are clueless as to how economics works. People like you think companies shouldn't make a profit and sell what they want them to sell. Then stockholder lose money, fewer games are sold, and the list goes on why GS's loss would be a detriment, not a boon. And the reason no other stores exist is because no one can do what GS does better. If so then they would be in existence on a large scale. GS will never go away until digital downloads become the mainstay of how gamers get their games. Until then, shop somewhere else and get a book on economic basics.
What a cesspool of ineptitude. Do any of you even understand the basics of supply and demand? Very basic skills taught in most 4th grade class rooms. Also if you knew anything about how to research empirical evidence and present a valid debate you wouldn't sound so silly. First of, they make $7 dollars on a new $60 game or game guide. The mark up on what they pay on a used game is around 50%. So they give you $3 (I would love to know what game they tried to give you $3 for Patchmaster) Then the will most likely sell it for $6-9. All of this is on various economic websites. Just research their P & L info on any money website and you will see the break down on what they make. You can look at their used games taken in vs. money paid out. It is all out there. They operate no different than any store that sells used items. Pawn shops and used cd stores have operated this way for umpteem million years. There is not a store out there that gives substantially better trade-ins. Please post evidence if you know where they give magic money away and don't care if they make a profit. Also ebay's fees basically nullify the idea that you are getting a better deal on a game. Between the fees, shipping, you might have well just cruised down to GS and bought it. They are just a retailer. There is nothing malicious going on. They are a company operating withing the framework of a .....drum roll please....capitalism and the elusive free-market. They are providing a service. Don't use them if you don't like them. But a bunch of fringe kooks on these forums aren't going to make or break their business. Even though stocks are down, profits are up and they are competing with a much better A+ title from the previous year.
Forget gamestop! I never trade them games after they tried to give me $15 for a game they sell used for $55. Biggest con artists ever! Dont mind buying used games there though.
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