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Wrexis

Member
Nov 4, 2017
21,227
uk.finance.yahoo.com

Meme stock GameStop surges 35% after it posted a surprise profit for the first time in 2 years

GameStop reported a profit of $48.2 million in the fourth quarter of 2022 — reversing a $147.5 million loss in the same period a year ago.

The company is expected to continue to cut excess costs in 2023, including winding down operations in certain countries in Europe, per [CEO] Furlong. It also aims to boost its higher-margin businesses such as collectibles and toys.

Ireland seems to be the first to go. They shutdown some services there effective immediately.


We are sorry to inform our loyal customers that as of 22nd March 2023 we will be ceasing the provision of a number of services in our Irish stores and on our website. These services include the sale of Gift Cards, Trade-in and purchase of Used devices and Accessories, GameStop Pro Loyalty services, Game Protection and Pre-Orders of Products.

Some ex-employees on Reddit are saying around July. I mean it's no surprise, GameStop's been a funko wasteland for years, plus the Irish market's always been tiny in comparison to the UK or Europe.
 

aerach71

Member
Sep 25, 2018
584
Ireland
Spent 300 in GameStop credit I'd built up today in case they shut down suddenly, there's gonna be one major place to buy physical games in Ireland now (Smyth's) and they're not that numerous here already
 

skeezx

Member
Oct 27, 2017
20,119
USA USA USA

no but really i don't know how the 3 storefronts about ~20 miles away from my house are still open. especially one that doesn't even have a sign because of building renovations. complete graveyard
 

SaberVS7

Member
Oct 25, 2017
5,228
TIL Gamestop had "operations" at all in Europe.

Like I thought they didn't exist at all outside of North America. I've always heard of Europeans (Especially those in the UK) complaining about shitty service from other retailer names, like "GAME", never "Gamestop".
 

Maligna

Member
Oct 25, 2017
8,803
Canada
One of the two gamestops that are literally across the street from each other in my town closed down. (Canada)
 

gambra

Member
Oct 27, 2017
161
Spent 300 in GameStop credit I'd built up today in case they shut down suddenly, there's gonna be one major place to buy physical games in Ireland now (Smyth's) and they're not that numerous here already

Smyths at least do free delivery over €25 and are consistently able to battle with Amazon for pricing. I think outside of the few games electrical stores like Currys or Harvey Norman would have (usually just the standard big sellers) then Smyths is the only remaining place for new release games in Ireland.
 

Sangral

Member
Feb 17, 2022
5,970
tumblr_po2cx4qmmo1x0uneyo4_540.gif
 

aerach71

Member
Sep 25, 2018
584
Ireland
Smyths at least do free delivery over €25 and are consistently able to battle with Amazon for pricing. I think outside of the few games electrical stores like Currys or Harvey Norman would have (usually just the standard big sellers) then Smyths is the only remaining place for new release games in Ireland.

Smyth's are fine for new games, prices are fine, but they don't keep a lot of games past a couple months where they'd get discounted sadly
 

skeezx

Member
Oct 27, 2017
20,119
i actually pine for the days i get Game Informer and warranties shoved on me. i feel like i can jump across the counter and shove discs in a backpack and they'd be like "hey bruh, maybe don't do that"
 

Vito

One Winged Slayer - Formerly Undead Fantasy
Member
Oct 25, 2017
16,040
I wonder how long will physical media last after they go under.
 
Jan 13, 2022
1,609
They deserve to go under. Awful company. Good riddance. It's a shame a bunch of morons propped them up for longer with an idiotic stock market scheme.
 

TheDoctor

Member
Oct 27, 2017
1,262
They are in the process of closing down nearly two-thirds of their stores in Germany. 70 will be left out of 200. Also store closures happening in Austria.

Their stores in Switzerland have been sold to an Italian videogame/merchandise distributor and will all be rebranded as "Gamelife" starting in April.

France still remains their biggest market in Europe with just under 400 Micromania-Zing stores.
 
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Eoin

Member
Oct 27, 2017
7,103
This has been coming for a while. Every time I've seen a branch of Gamestop in the past five or six years, it's looked like it could act like a quiet refuge from the retail crowds for anyone seeking a bit of empty silence. I'm sure that they got some footfall for big releases but I'm also sure that's been declining as well.

In Ireland it's probably been around 10 years since they completely gave up on trying to compete with online prices. It was pretty clear that they couldn't win that battle so they just noped out of it. It looked like they decided that the only people shopping in Gamestop would be people who didn't know any better, people who didn't have the ability to buy online, or people doing last-minute present shopping, and that they were all price insensitive and would therefore be paying full whack.

Like I thought they didn't exist at all outside of North America. I've always heard of Europeans (Especially those in the UK) complaining about shitty service from other retailer names, like "GAME", never "Gamestop".
They're only in a few European countries and they're not always the major games retailer in those countries. They've been there for a while though.

In Ireland they took over a local specialist games retailer (which I half-remember was called Gamezone) that was competing with GAME and Electronics Boutique before those two merged. Gamestop and GAME expanded rapidly and then GAME collapsed and its Irish operations never recovered, leaving Gamestop as the sole specialist retailer.

In reality though the largest physical games retailer in Ireland for quite a while has been Amazon UK.
 

KCroxtonJr

Member
Oct 28, 2017
1,492
Anybody else not able to use their website? U.S. Trying to spend my credit and I just get access denied to the website lol
 

LongDongJunon

Member
Nov 13, 2017
1,454
Uh I'mma need y'all to stay alive long enough for me to trade in my PS5 for a PS5 pro on whatever trade in promo you're gonna have, then you can go die off whenever u please. Thanks
 

MangoUltz

Member
Mar 24, 2019
1,817
I was already buying everything from Smyths but it is sad to see the dwindling places you can actually buy physical games here.

Will check out the sale at least
 

Oleander

Member
Oct 25, 2017
1,587
Pretty miserable that, even with the 10% everything must go discount, it's still cheaper to buy many of the same items from Smyths. Dying as they lived.
 

Lucreto

Member
Oct 25, 2017
6,628
It's going to be that much harder to get Collector's Editions now unless Smyths steps up.
 

Vito

One Winged Slayer - Formerly Undead Fantasy
Member
Oct 25, 2017
16,040
Last generation with physical media.

What a true shame.
 

MadDogTannen

Member
Feb 21, 2023
1,489
What about CeX? Are they still knocking about in Ireland? I always used to get my shit from there before I moved
 

DazzlerIE

Member
Oct 25, 2017
3,756
Ireland has no dedicated games retailer left. Bummer, but shopping at Gamestop has been a shit experience for years. The games section kept shrinking, while the games-related trinkets sections kept ballooning in size
 

FantasticMr.Tox

alt account
Banned
Jan 22, 2023
297
My friend told me they closed the last one in Rochester NY, despite it still coming up as open on Google. They're dying off all over the place and I'm guessing the last bastions will be isolated towns in Midwest America where high speed fiber isn't available.
 

Xater

Member
Oct 26, 2017
8,904
Germany
In Germany GameStop has never made sense to me. Why go there when you can go to any Saturn or Media Markt where yo u an get any game without pre-ordering and most likely a better price?
 

tryagainlater

Member
Oct 25, 2017
2,249
Checking their everything must go sale, you get like an extra fiver of...great. I know people don't like CeX but there's basically nowhere else to get deals on games in Ireland. And only Amazon is left to import games without a €16 import fee for UK retailers.
 

gofreak

Member
Oct 26, 2017
7,734
Wow… i somehow missed this.

How sad for the staff.

With Argos closing in Ireland too… where are we supposed to buy console hardware in the future? Harvey Norman? The odd Tesco?

Not sure I'm ready to buy everything on Amazon and wait X days…

Edit - oh, smyths. Forgot about that one. Still… these dwindling options are a shame.
 

Shane86

Member
Dec 24, 2019
61
Only Gamestop could do 10% off in a closing down sale. Good riddance.

They bought out Gamesworld in Ireland 20 years ago who were a brilliant store, and then GAME pulled out of Ireland, and then HMV closed, and now Argos is about to go. I stopped visiting Gamestop years ago because you simply would never find a bargain or a cheap used game. They made most of their profit on second-hand games which they would sell for €5 less than the new price. (I remember them trying to sell me the second hand version when I brought the new copy to the till and looked befuddled when I refused). Gamestop were also charging €80 for new releases this gen which is ridiculous.

Soon there will be literally only three places in the country to buy new games Smyths, Tesco and Harvey Norman. Smyths is more a toy store than a games store but it'll be the only place in Ireland where you can pre-order games and consoles.

HMV is reopening their store in London, I would love them to come back to Ireland.
 

NateDog

Member
Jan 8, 2018
1,758
I could be wrong but have a feeling they'll be closing pretty soon after TOTK releases. My FFXVI pre-order got cancelled and they were all taken off of the website. Maybe July is realistic for them to get rid of stock but I'm not sure. I only ever buy from them for special editions, although they're rubbish otherwise I'll miss them for that. Got my MGSV PS4 there, my PSP there, some good staff around in those stores (although there are also some ignorant halfwits there too). Was talking to someone there a few weeks ago when it first looked like they were going and said to him it must be awful having to just wait and find out when you're done, then again I was in Xtravision and went in one day for a shift and someone from the liquidator came in and that was it, we were done, no notice. Not sure which is worse.
 

Rowsdower

Prophet of Truth - The Wise Ones
Avenger
Oct 27, 2017
16,544
Canada
I'm kinda sad to see them go. I grew up with EB Games here in Canada (bought by Gamestop and now have their name) and have great memories of game purchases. Got the Sekiro's Collectors Edition there on a whim when a staff member asked if I wanted it instead of my standard edition pre-order. Man...

End of an era. End of physical media this gen too. Besides Best Buy and the few local stores left, there's very few places to buy games in Toronto anymore.
 

Normanski 2.0

Member
Nov 21, 2017
3,261
TIL Gamestop had "operations" at all in Europe.

Like I thought they didn't exist at all outside of North America. I've always heard of Europeans (Especially those in the UK) complaining about shitty service from other retailer names, like "GAME", never "Gamestop".

I remember there being a GameStop in Stockport Town Centre, but that store became a Savers over a decade ago. I've never seen another one elsewhere in the UK.
 
Oct 27, 2017
20,753
They suck but I hope that in each market they leave that a viable used game option arises, we need them so badly for consumer rights
 

Marus

Alt account
Banned
Aug 6, 2022
1,929
If GS does go I wonder what will be done about the used game market.
 

Strafer

The Flagpole is Wider
Member
Oct 25, 2017
29,355
Sweden
man, gone are the days as a kid going to gaming stores and looking at all the PS1, PS2 games. That time was so good.
 

Jawmuncher

Crisis Dino
Moderator
Oct 25, 2017
38,367
Ibis Island
Crazy they bought basically all competitors back in the day, brought physical game stores to their knees, and are now faltering from the behemoth they once were after basically fucking over the used game market forever.

All those loose games you see online? Most are due to Gamestop and their old policy of just throwing out cases for titles of a certain cost for example. Along with how they never priced by completion. Basically just a lot of "death by a thousand papercuts" for all the markets they once had dominance in that don't impact others such as Japan.
 

Xion_Stellar

Member
Oct 25, 2017
3,271
Last generation with physical media.
What a true shame.
End of an era. End of physical media this gen too. Besides Best Buy and the few local stores left, there's very few places to buy games in Toronto anymore.
People have been saying this since the PS3 but I just don't see it happening just yet....at least not for Nintendo or Sony the physical media market in Japan is too big to ignore besides just because people are loosing buying options in their local area it doesn't mean that the format is done for.
At the very least it's something I don't have to worry about here in Chicago just yet because GameStop is still around (76 locations within 44 miles of me according to Google), Play N Trade is still around and we got a few mom and pop shops left.
 

Jawmuncher

Crisis Dino
Moderator
Oct 25, 2017
38,367
Ibis Island
If GS does go I wonder what will be done about the used game market.

In terms of retro games, I don't think there's much they impact there now (Outside of them being the reason there are so many loose games and the like).
Now if we're talking "New" games, then it would definitely open up the door to more mom & pops if you have those along with online selling.

As Best Buy, Walmart, and others messed with Trade-ins for a bit but I guess gave up after it being too much work for what it was bringing in.

People have been saying this since the PS3 but I just don't see it happening just yet....at least not for Nintendo or Sony the physical media market in Japan is too big to ignore besides just because people are loosing buying options in their local area it doesn't mean that the format is done for.
At the very least it's something I don't have to worry about here in Chicago just yet because GameStop is still around (76 locations within 44 miles of me according to Google), Play N Trade is still around and we got a few mom and pop shops left.

Agreed. Physical gaming doesn't go away just because it's not the biggest share of sales now. You're just going to see more releases become prestige and ran through limited run labels and the like. Much like how Vinyl is. I think this is partly why even MS knew they needed to lower their print requirements now.
 

Devil

Member
Oct 25, 2017
2,653
In Germany GameStop has never made sense to me. Why go there when you can go to any Saturn or Media Markt where yo u an get any game without pre-ordering and most likely a better price?

They are only really useful for their 9,99€ trade in deals. But since I tend to buy more and more digital versions nowadays I usually don't even have enough physical games to trade in for a new one.
 

Keyser S

The Fallen
Oct 26, 2017
8,480
My local Gamestop (midlands Ireland) closed during the pandemic, so I ended up forgetting about the company as a whole as the online site was never worth a damn

My last memory of GameStop will be getting €50 off a launch PS5 due to a preorder mess-up
 

deathsaber

Member
Nov 2, 2017
3,094
toilet-flush.jpg


Yeah, it's sad at this point. I've probably been a customer longer than most- mainly because I've largely been relatively un-sentimental about consoles/collections- I buy consoles/games, trade them when I'm done to subsidize the next purchase. I used to be a pretty prolific preorder-er with them but just kind of figure what's the point when I can pre-download and start playing a new release at midnight if I want (why wait to pick up after work the next day, which was my norm).

However, digital has gotten more and more business from me (and I have more disposable income as I get older), so I pretty much hardly bothered at all with GameStop in 2022.

I actually wandered into a store this past January, looking to grab Dead space (which released a few days earlier) since someone gave me a gift card there. The store was such a sad looking space, and upon asking for the game, and predictably being asked if I pre-ordered, he said none are in stock and that they basically only get exact stock to fulfill pre-orders any more at launch. (I have historically never had trouble buying major AAA releases from the store without preorder. I would expect this for a lot of the niche Japanese stuff I often buy, but a AAA EA published game... nah.)

So, I bought some Xbox Store credit with my card, went home and downloaded Dead Space from the Xbox store. It's like they are trying to die...
 

Tyaren

Character Artist
Verified
Oct 25, 2017
24,710
In Germany GameStop has never made sense to me. Why go there when you can go to any Saturn or Media Markt where yo u an get any game without pre-ordering and most likely a better price?

I always preferred to go to my local Gamestop instead of Saturn or Mediamarkt. I find the smaller, more dedicated store more inviting, relaxing and the staff more friendly and helpful.
I also always got very good deals in my Gamestop. Like being able to upgrade my PS4 to the PS4 Pro by just bringing in my old PS4 and paying the difference to the PS4 Pro price. That's my plan for the PS5 Pro...if Gamestop is still around that is.
Or I was among the very few who were able to preorder my PS5 there and being able to pick it up on release day. I did have to preorder two games to be able to preoder the PS5, but even staff was like: Just don't sweat it, preorder two future games and you can switch the preorder to other games any time, and you can even cancel it. That's what I did, because at the time I just wanted Miles Morales, lol. I feel the staff was always really nice and forthcoming.