Over 600 Million

A new fiscal report has revealed that Gamestop lost 673 million dollars in 2018. This isn’t a massive surprise given the general direction the industry is moving in, but that’s still a huge chunk of change. This is apparently the biggest loss Gamestop has ever posted in a single year.

gamestop top

There were losses posted in every many lines of business, though pre-owned sales took the biggest hit. This is only the second time Gamestop has posted a loss since the year 2000. The last one in 2012 was only 270 million. Does this spell doom for the massive retail chain?

//z-na.amazon-adsystem.com/widgets/onejs?MarketPlace=US&adInstanceId=5600492c-9ecc-4f32-a18f-d0317ea1d4aa

It’s unclear at this stage, though companies rarely lose more than half a billion in revenue without some dire consequences. What will happen to our game-buying options if Gamestop goes the way of the dodo? We’ll only have digital sales, BestBuy, Wal-Mart, Amazon, and everyone else to sell us games! Gamestop has announced that they’ll be implementing cost-cutting initiatives for the upcoming fiscal year, though it’s anyone’s guess whether that will be enough to save them.

SOURCE

The post Gamestop Lost A Ton of Money This Year appeared first on COGconnected.



CLICK HERE IF MEDIA / VIDEO / TRAILER IS MISSING:
Gamestop Lost A Ton of Money This Year

Leave a Reply

Your email address will not be published.