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 )
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.

Outsiders - 2019-09-11 @ 9:18 pm

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.

allhailmegatron - 2019-09-11 @ 9:03 pm

damn I really hope they don't close gamestop I love that store

Neovorticism2 - 2019-09-11 @ 8:06 pm

Everything shall fall...

My simpathy for all the ppl who'll lose their jobs.

FigureKingdom - 2019-09-11 @ 7:55 pm

This is really sad news to hear. I personally love Gamestop and all the nostalgia I get from visiting their stores. I have nothing but positive experiences from shopping there. What is alarming is going on Twitter and seeing some of the mentions and hashtags from many customers. Many customers complain about having their orders canceled, online technical issues, and lack of reachable customer service. I spent a good 20 minutes on Twitter and this was a common theme. I really hope Gamestop will be able to turn things around and evolve. Apple at one point in time was in deep trouble way back in the day, so I have faith that Gamestop can also pull through!

JayC - 2019-09-11 @ 7:34 pm
On 9/8/2019 at 2:20 AM, mostlyharmless said:

It's disappointing to see what looks like a reliable source of information distributing the propaganda of aex-employee who is clearly bitter about being fired. First of all it's ridiculous to even consider a company closing any of it's stores that still have timeleft on their lease when said company hasn't filed and isn't anywhere close to filing for bankruptcy. Don't get too caught up in the stock price either. The fact that it's low make it easier/cheaper for the company to repurchase. And the next wave of consoles will clearly buy the company a few more years. Oh and if something like this was to happen there wouldn't be a lot of people in the loop on it either. Executives and Board of Directors probably, not anyone that would trouble themselves to talk to Camelot you can be sure about that. But you do you, negative articles are good for clicks aren't they?

He may be disgruntled but he seems to be dead on. Its been officially confirmed by the CEO they are in fact going to be closing between 180-200 stores by the end of the fiscal year, and the reason I ran the story is because he has demonstrated multiple times having accurate info hence making him a viable source. He reported about the layoffs before they were officially announced. I have no personal grudge against Gamestop in fact I hope they can find a viable way to restructure and continue on, but its my job to report news that impacts the action figure collecting community good or bad and this def will have an impact.

JayC - 2019-09-11 @ 7:29 pm
Gamestop Confirmed To Close Up To 200 Stores In US By Years End As Company Continues To Lose MoneySeptember 11, 2019Rumors last week began surfacing that some major changes were coming to the former video game giant retailer Gamestop that included closing around half of their physical stores here in the United States.Yesterday Gamestop held its earnings call where the CEO confirmed they would in fact be closing between 180-200 of their under-performing retail stores here in the United States by the end of the fiscal year. This will be done in an effort to try an optimize their remaining stores in increasingly digital world. It was reported that the retailer had somewhere around a 14 percent loss in global sales this past quarter. There are currently 5,700 stores across 14 countries in operation and they have already closed 195 stores since the second quarter of last year. They also in early August laid off around 200 employees across multiple divisions followed by second round of layoffs a few weeks later which focused on 120 corporate staff positions.The initial news of the store closings came to light last week from a Youtuber who goes by the name of CAMELOT331, who was a former and seemingly somewhat disgruntled Gamestop employee.CAMELOT331 has also reported some major changes for the remaining open stores will soon be implemented which includes things like becoming retro and tabletop gaming stores where people can play vintage arcade games as well as things like D&D and HeroClix. That has yet to be officially confirmed but CAMELOTT has admittedly been pretty dead on with his reporting on Gamestop up until this point.In the past year or so Gamestop has been putting a lot of focus on selling action figures and collectibles, so if the retailer ends up going under in the near future as some fear, it will likely be another retail blow to the toy industry which is still trying to recover after the recent fall of Toys R' Us.
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