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Reggie to Gamestop Board - will it help?


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13 minutes ago, jonebone said:

They also got a former Wal-mart CEO and a Petsmart CEO (not as exciting about that one).  Gamestop is going all in with their new initiatives and I can't wait to see how this plays out in 5 years. 

For those of us playing at home, I doubt we have to wait that long.   Betting by mid 2022 they're toast.

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22 minutes ago, captmorgandrinker said:

For those of us playing at home, I doubt we have to wait that long.   Betting by mid 2022 they're toast.

The gamestop model as you know it may be toast by then but the company will look different and still be around or purchased prior to that.  Netflix used to be a DVD by mail company...

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27 minutes ago, captmorgandrinker said:

For those of us playing at home, I doubt we have to wait that long.   Betting by mid 2022 they're toast.

Define "toast."  If it means completely gone, I would take that bet because they will almost certainly still be around by then even if they are only a fraction of what they are today.  

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4 minutes ago, jonebone said:

The gamestop model as you know it may be toast by then but the company will look different and still be around or purchased prior to that.  Netflix used to be a DVD by mail company...

.....and Blockbuster used to be the biggest movie rental house.   Where are they now?

Gamestop's ability to adapt is a joke.   Taking in old phones and doubling down on collectible shit they have to clearance out within a couple months of release?

Not sure what they could possibly morph into without completely fucking it up.

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3 minutes ago, TDIRunner said:

Define "toast."  If it means completely gone, I would take that bet because they will almost certainly still be around by then even if they are only a fraction of what they are today.  

The state that K-Mart and Sears are currently in- violently circling the drain.

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Just now, captmorgandrinker said:

The state that K-Mart and Sears are currently in- violently circling the drain.

Fair enough.  That just doesn't fall under what I consider "toast."

Although to your comparison, Sears and Kmart are still around today.  Gamestop is still about 5 to 10 years behind them in terms of what they are going through.  So I still stand by my theory that we will have Gamestops in existence for many years to come. 

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7 minutes ago, TDIRunner said:

Fair enough.  That just doesn't fall under what I consider "toast."

Although to your comparison, Sears and Kmart are still around today. 

Had to look it up to know they were even still around, since I haven't seen one in the wild since ours closed back in the first wave.  (same with our sears)

 

Evidently they are down to a few hundred stores, where they used to have thousands.

Honestly thought they all kicked the bucket a few years back 😛

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16 minutes ago, captmorgandrinker said:

.....and Blockbuster used to be the biggest movie rental house.   Where are they now?

Gamestop's ability to adapt is a joke.   Taking in old phones and doubling down on collectible shit they have to clearance out within a couple months of release?

Not sure what they could possibly morph into without completely fucking it up.

Old Gamestop yes, but have you seen the new Gamestop beta stores?  I posted them in the other thread.  They look more like an Apple store than a Gamestop.

The new Gamestop has:

1) Exited out of the Smartphone business for cash ($700Mish sale)

2) Changed CEOs

3) Bought back $300M (ish?) in stock, doubling down.

4) Rolled out beta stores 

5) Updated their website (you said you hated this one IIRC)

6) Changed over their board of directors with a former Nintendo President and Wal-Mart President

I get a lot of people hate Gamestop but the decisions they are making are a complete 180 from the Gamestop you know.  They are doing things differently.  If they fail it won't be from a lack of trying, that much I am sure.  They won't just sit there and erode cash while selling PS3 games for eternity. 

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2 minutes ago, arch_8ngel said:

Had to look it up to know they were even still around, since I haven't seen one in the wild since ours closed back in the first wave.  (same with our sears)

 

Evidently they are down to a few hundred stores, where they used to have thousands.

Honestly thought they all kicked the bucket a few years back 😛

I don't want GameStop to go away, but I usually only buy stuff from them around the holidays.

KMart needs to just be put out of its misery. I feel bad for anyone still working for them. Everytime I go back the store has less inventory, less people, and less employees. I hope all the employees can find jobs elsewhere, but at my local KMart it feels like this is the only place that would hire them.

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6 minutes ago, jonebone said:

Old Gamestop yes, but have you seen the new Gamestop beta stores?  I posted them in the other thread.  They look more like an Apple store than a Gamestop.

The new Gamestop has:

1) Exited out of the Smartphone business for cash ($700Mish sale)

2) Changed CEOs

3) Bought back $300M (ish?) in stock, doubling down.

4) Rolled out beta stores 

5) Updated their website (you said you hated this one IIRC)

6) Changed over their board of directors with a former Nintendo President and Wal-Mart President

I get a lot of people hate Gamestop but the decisions they are making are a complete 180 from the Gamestop you know.  They are doing things differently.  If they fail it won't be from a lack of trying, that much I am sure.  They won't just sit there and erode cash while selling PS3 games for eternity. 

I'm more of a Gamestop pessimist than a Gamestop hater.   I actually want them to stick around.

They need to fire whoever dicked up their website, you're 100 percent correct that I hated that change.   

When did they exit from smartphones?   As recently as last week they were still happily buying them.

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I‘m not someone who really ever shops at GameStop.  It’s not some sort of hate for the company but I genuinely don’t see the appeal. Everything they offer is more easily and more cheaply obtainable online.    How do you fix that no matter who you put in charge?  I also don’t understand how Best Buy still exists either.

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As a person who typically defends GameStop, I just want to make it clear that I certainly don't think they are perfect.  I recognize that they have made a lot of mistakes and their reaction time to the changing game industry may be too slow to save them.  But I also recognize that they have provided a very valuable service to me over the years.  I have bought probably hundreds of games from them for much cheaper than I could ever expect to find anywhere else besides flea markets or Goodwill, and in the case of GameStop, I'm much more likely to find what I want compared to flea markets or Goodwill.  

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7 minutes ago, Hammerfestus said:

 I also don’t understand how Best Buy still exists either.

I understand PART of how Best Buy exists, because sometimes you need computer equipment RIGHT THEN, and they are the best available option in most cities.

But that is a pretty small segment of what they do, so it IS pretty hard to understand how seemingly 1/3 of their floor space can be devoted to disc-based movies, for instance.

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It's hard to say how much impact this will have. Reggie has great experience, but his position may only involve cursory oversight of the actual company. It really depends how involved he chooses to be and how much the others listen to him. But I'd say it's generally a good sign for the company.

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Administrator · Posted
1 hour ago, jonebone said:

Old Gamestop yes, but have you seen the new Gamestop beta stores?  I posted them in the other thread.  They look more like an Apple store than a Gamestop.

The new Gamestop has:

1) Exited out of the Smartphone business for cash ($700Mish sale)

2) Changed CEOs

3) Bought back $300M (ish?) in stock, doubling down.

4) Rolled out beta stores 

5) Updated their website (you said you hated this one IIRC)

6) Changed over their board of directors with a former Nintendo President and Wal-Mart President

I get a lot of people hate Gamestop but the decisions they are making are a complete 180 from the Gamestop you know.  They are doing things differently.  If they fail it won't be from a lack of trying, that much I am sure.  They won't just sit there and erode cash while selling PS3 games for eternity. 

Yeah, they seem to be at least putting up a fight rather than going the Blockbuster route of saying "people will always rent!". 

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Toys r us left behind a void. Not sure why they haven't morphed into a toy store with REASONABLE prices with a video game focus. Selling a Peach's Castle playset for $10 higher than Toys r Us did is not the way. $15 for 7 inch plushies is silly also. I would have spent a lot more there the last couple of Christmas seasons if their toy prices were better.

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1 hour ago, arch_8ngel said:

I understand PART of how Best Buy exists, because sometimes you need computer equipment RIGHT THEN, and they are the best available option in most cities.

But that is a pretty small segment of what they do, so it IS pretty hard to understand how seemingly 1/3 of their floor space can be devoted to disc-based movies, for instance.

A 3rd?  I guess I don't see that.  My local one is pretty large and only has 1 or maybe 2 aisles to DVDs/Blu-rays (guessing 10% or less of the store).  For me, it is THE place for local premium electronics in-stock, and have been really impressed with their pricing on my last few significant purchases I'd say right on par with Amazon on the premium stuff that Walmart/Target doesn't carry.

The same goes with their home appliances, TVs/entertainment, and as you mentioned computers/parts/service.  Also for the average joe, geek squad does have some pretty great offerings for delivery/setup/warranty etc. on all kinds of stuff.

Recently I snagged a black Friday online deal for a remote starter installed at a great price, I did have to wait ~2 months to get it installed in January, but the whole ordeal turned out to be painless and well done.  I would not hesitate to take another car there in the future.

I guess I'm just a fan of BB, but am also worried they may not survive the online/digital future.  Even wrote a paper on their struggling business model in one of my last college classes last year.

One thing I do hate is when I order online for pickup, they always slap a huge label on the item (on game boxes for example).

As for Gamestop, I'm intrigued in the new board and where this goes, but am not optimistic yet.  It seems Amazon is still somehow undercutting them for launch titles, for example RE3 on PS4 comes out in early April and right now Amazon has it for $50 shipped and GS is still at $60.  Even with store credit on-hand I'm probably going to order online...  

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17 minutes ago, Boosted52405 said:

A 3rd?  I guess I don't see that.  My local one is pretty large and only has 1 or maybe 2 aisles to DVDs/Blu-rays (guessing 10% or less of the store).  For me, it is THE place for local premium electronics in-stock, and have been really impressed with their pricing on my last few significant purchases I'd say right on par with Amazon on the premium stuff that Walmart/Target doesn't carry.

The same goes with their home appliances, TVs/entertainment, and as you mentioned computers/parts/service.  Also for the average joe, geek squad does have some pretty great offerings for delivery/setup/warranty etc. on all kinds of stuff.

Recently I snagged a black Friday online deal for a remote starter installed at a great price, I did have to wait ~2 months to get it installed in January, but the whole ordeal turned out to be painless and well done.  I would not hesitate to take another car there in the future.

I guess I'm just a fan of BB, but am also worried they may not survive the online/digital future.  Even wrote a paper on their struggling business model in one of my last college classes last year.

One thing I do hate is when I order online for pickup, they always slap a huge label on the item (on game boxes for example).

As for Gamestop, I'm intrigued in the new board and where this goes, but am not optimistic yet.  It seems Amazon is still somehow undercutting them for launch titles, for example RE3 on PS4 comes out in early April and right now Amazon has it for $50 shipped and GS is still at $60.  Even with store credit on-hand I'm probably going to order online...  

Maybe it was only 1/4, but the amount of space seemingly devoted to movies was enormous.

And yes, they have good coverage on TVs and any other electronics.  Pretty much every other major retailer in that sector has been wiped out, leaving you with the VERY limited options of Target or Walmart as your alternatives for in-person buying.

 

I just don't buy enough of that kind of stuff anymore to really care about the physical retailers, since any deal I get is more likely to be online.

Though BestBuy does price match AND runs some pretty good sales of their own -- I just don't have a car big enough to hold the size TV I'd be buying next, so it is going to be getting shipped no matter what 😛

 

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