Is The End Near For Gamestop?!? (Update)

by Jay Cochran
September 06, 2019
UPDATE: So it's come to my attention that CAMELOT331 who is the one to first report the news about Gamestop and their plans to close half their stores by the end of qrt 4 this year, also appears to be a bit of a former disgruntled employee of the Gamestop company. This doesn't automatically discredit his information, and he has demonstrated in the past having some insider insight about recent layoffs before they were officially announced, but we feel its important to note the part about being disgruntled, as that is something that might cloud ones judgment in their reporting of things about their former employee. He recently made a video where he claims people at Gamestop got him fired from his most recent employee for saying negative things about his former employee, he even acted a bit surprised about it though honestly its hard to tell if he was being sarcastic about that or not. (Yeah if your going to demonstrate a pattern of publicly talking bad about an employee, that defiantly could make it harder to get any kind of future employment). His entire channel seems to be dedicated to talking bad things about Gamestop and other retailers like Walmart.

So with that said we just want to stress once again as stated below, the part about stores closing and going in a different direction with the remaining stores is unconfirmed at this time. The parts about all the recent layoffs, and GameStop's financial struggles as they continue to deal with the recent shifts in the gaming industry towards a digital content download model have been well documented over the course of the last year through various mainstream media outlets. So regardless of how reliable CAMELOT331's info ends up being or not, the question posed about Gamestop's end being near still seems to be a viable one to me.

We will update this story once we hear more one way or the other.


While most people when they hear the name Gamestop think video games, in recent years they have really stepped up their game when it comes to carrying action figures and collectibles. Every time you turn around some toy company is announcing a new Gamestop exclusive. For Gamestop this in large part has seemingly been a way to try and help make up for the loss of video game sales as more and more people turned to online downloads or just ordering their games from places like Amazon. For the toy companies, Gamestop has become one of the places they turned to after the collapse of Toys R' Us for new retail shelf space to sell their products.

Despite this newfound partnership between Gamestop and the toy industy, things have not been going well for the once giant game retailer, at least if you've been reading the financial reports this past year they haven't. In efforts to restructure the company, back in early August they laid off around 200 employees across multiple divisions followed by second round of layoffs a few weeks ago which focused on 120 corporate staff positions.

Last week the company held it's annual manager's conference where apparently even more bad news was relayed to employees, news that over half their retail stores in the US will be closed by the end of Qrt 4. Stores making less than $800k will likely be on the chopping block. The remaining stores are said to become primarily retro and tabletop gaming stores where people can play vintage arcade games as well as things like D&D and HeroClix, which to me sounds like they want to be new the local comic book store without the comics.

Now we should note that this latest news about the store closures and going a different direction comes via Youtuber CAMELOT331, who has demonstrated having fairly reliable inside sources at Gamestop in the past when it comes to this type of news, but by know means do we consider this anything officially confirmed. You can see his video were he lays out everything he has heard about what is going on with Gamestop below.



So assuming this all turns out to be true, what does that mean for the future??? Well first of all, sadly it means a lot of people have or are going to be without jobs similar to what we saw when Toys R' Us went under. Hopefully most who have worked there for any period of time saw the writing on the wall well before this and already started to make other arrangements for their future.

As for the toy collecting community and all the yet-to-be-released exclusives, well for the most part there is likely still enough time for most or all of them to be released as planned. For those that might not get released, they likely would end up going to another retailer or be released online like we saw with many of the unreleased Toys R' Us exclusives.

Also according to CAMELOT arround 2k+ stores here in the US will be remaining open for the foreseeable future and even under the new rumored model for those stores, action figures and collectibles could very likely remain an important part of the inventory they sell, assuming those stores manage to stay open for any significant period of time.

Let us know in the COMMENTS SECTION, how often do you check Gamestop these days for your action figure needs?
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Comments...

Last 10 comments - ( Read All Posts )
Flounnderr - 2020-09-15 @ 1:16 pm

I thought I would chime in on the percentage debate here and let you guys know that 10% is called decimation.

Its extremely devastating when it was practiced in warfare and you can also apply it to physical businesses. While it's not a kill blow to the business it is significant enough to allow for financial restructuring.

I think most people'srelationship to percentages are in terms of discounts, and a 10% discount isn't much of a deal but when applied to trimming a business this is a meaningful first step.

Satam - 2020-09-14 @ 4:58 pm

I haven't even been able to get onto their website for the last two weeks.

mako - 2020-09-14 @ 3:49 pm
25 minutes ago, jlavaia said:

yeah me too. 10% is not alot of stores.

Actually, that's 1/10th of a 100% . . . as in 1/10th of ALL Gamestop stores. I don't care what math you use, that IS alot.

mako - 2020-09-14 @ 2:36 pm

Another one bites the dust.

Never been a big Gamestop guy, but I've gotten real sick lately of watching previously healthy businesses go belly up while Congress can't bring themselves to interrupt their monthly paid vacations long enough to give a crap.

I figure by the time the pandemic,and the mess the governments made of the country in fear of it,is straitened out, there will be exactly two businesses left. The public relations firm the government pays to lie to us about how the economy is improving, and Pelosi's hair-dresser.

Gilgamesh79 - 2020-09-14 @ 12:15 pm

I feel bad for the people losing their jobs but I'm not going to miss the stores. The only time I've bought anything from Gamestop in over a decade has been after it's gone on clearance.

JayC - 2020-09-14 @ 11:35 am
The woes of the video game retailer Gamestop continue during this time of the COVID-19 pandemic. Last week it was announced that their second quarter revenue came in below analysts' expectations despite online sales going up by 800%. Back in March Gamestop had announced it planned to close 300 of it's physical stores globally, but now according to CNN they have raised that number to somewhere between 400-450 stores, with more closures coming in 2021. CFO Jim Bell said the closures would allow us to more efficiently and profitably service our customersRight not there are about 5100 stores remaining worldwide.
Goldbug - 2019-09-13 @ 2:33 am
On 9/11/2019 at 4:18 PM, Outsiders said:

I never went to GameStop because they mainly turned into another Toys R' Us in my city. Both stores would just have employees that worked there to just pop and pull exclusive or chase figures and throw them on eBay.

I have used GameStop online but only if they were carrying exclusive figures that I wanted but not for video games. I personally don't want to deal with a brick and mortar store that will give you $15 dollars for a $60 dollar game you just purchased.

Well those employees should have been fired if they did that.

Plus this article confirms they will try to turn into a social hub for gaming.

https://abc7chicago.com/entertainment/gamestop-closing-180-200-stores-across-us-/5534676/

I don't mind my GameStop stores at all. They aren't a mess either.

memocromatico - 2019-09-12 @ 5:06 pm

I enjoy my games physical, as well as my movies, I still buy cds and albums because I like the art, even if I listen to it streaming. Regardless, I don't do retail anymore, I've found online to be more reliable to purchase the things I look for.

JayC - 2019-09-12 @ 1:03 pm

On one possible positive note, I saw this morning that apparently Collectibles is the only area Gamestop has experienced growth. It was saidcollectibles were up 21.2% year-over-year.

I've said this before but they should just nix the video games all-together and become a national adult action figure and collectible store chain. Yeah it's not going to be as profitable as video games where at the height of Gamestops dominance and likely couldn't sustain as many stores as before but they would basically be unique, a national toy store chain that caters to the adult action figure and collectible collector as it's primary consumer base.

They could rename the stores "POP Stop". Pop being short for Pop Culture.

Figurecollector123 - 2019-09-11 @ 11:39 pm

Surprisingly easier to get legends at GameStop then most other places.

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