As Sales Decline 14.3% in Quarter
Posted by Milton Griepp on September 11, 2019 @ 4:02 am CT
In Wall Street-ese, Gamestop CEO described the hoped-for results. "We believe that store de-densification will be materially accretive to the overall business model." Translation: we think closing stores will help us be more profitable.
Overall global sales were down 14.3%in the quarter, with comparable store sales down 11.6% in the quarter, the company reported. Every category was down, led by hardware as gamer wait for new consoles next year, except collectibles, which were up 21.2%. That’s a significant improvement over the last quarter, when collectible sales were up 10.5% (see "Collectibles Remain Sole Bright Spot as Gamestop Sales Decline").
The company is issuing guidance for the fiscal year with comp store sales declines in the low teens.
New Exclusive Line of Family Games
October 22, 2019
The biggest change since our last was a full bay of inexpensive family games and classics being sold under a house brand created for Target by Buffalo Games.
October 21, 2019
Modiphius Entertainment announced the return of Vampire: The Masquerade miniatures for trade in Spring 2020.