80°

GameStop concludes fiscal year with net loss, CEO calls 2012 a 'challenging year'

Joystiq: GameStop announced the results of it 2012 fiscal year (ending Feb. 2, 2013) today, with revenues of $403 million, which is slightly down from the $405.1 million in fiscal 2011. Due to "restructuring, impairment and debt retirement expenses of $680.7 million primarily related to goodwill impairment," the company saw a net loss of $269.7 million (2011: net earning of $339.9).

USMC_POLICE4059d ago

Yea because you don't price match, your prices are higher than competitors. To name a few

darthv724059d ago

it was certainly a winning year for me. I was able to fill in plenty of back catalog holes on ps2, xbox, gc, wii, 360, ps3 and even dreamcast.

it had been a long time since i saw a DC game at GS but I had to get it when i did.

Seems now they are phasing out used PS2 and PSP games. some stores have already done that like they did with no longer carrying used xbox and cube games.

Aznreddneck814059d ago

Good I hope they go bankrupt.

just-joe4058d ago

I'd rather they change their business practices for the better and not have people lose their jobs.

Murad4057d ago

I actually disagree. Today's economy outright sucks, and will most likely suck, because well, we are pretty stupid as people and trying to conserve money, or making sure to place money where it would give us the best benefits as a whole, rather than an individual. However, beside the point. I disagree because Gamestop treats their employees like shit. Terrible work hours, very little pay, and what's worse is that you know you're screwing someone over, and if you try to stop if, you're going to get fired. There's downright no reason to work there, even if you are broke, since guess what? 8 dollars an hour is still considered being broke.

just-joe4057d ago

@Murad
If there's no reason to work there, then why do people still work there? No one forces the employees to work there, they do it out of choice because they generally need the money. They can quit if they want but most choose to keep it because they need the money. Losing a job be it good or bad when you don't another lined up is NOT fun nor any better for a person.

jeeves864058d ago

Yeah, because that's just what everyone needs, more people without jobs.

Khordchange4059d ago

Its gonna be a rough road ahead considering that the wii u, PS4, Xbox 720, 3DS, and Vita will or all have downloadable game features

profgerbik4059d ago (Edited 4059d ago )

Only reason I want them open is so I have a place to pre-order. I don't like waiting for mail or dealing with the problems of an item not being shipped when it said it was. No other game stores or any where else to pre-order around here other than Gamestop.

Postal service blows now a days, I swear every time I order something it is never here when it says it is supposed to be. Comes days later after the tracking said it was delivered a long time ago..

Roper3164059d ago

sorry to hear you have such issues, I switched over to Amazon the beginning of this gen because they were always offering 10-20 dollar credits for pre-orders where GS wasn't. While I may not have gotten my games on release day I would always receive them about a week later without a issue.

I would say that since I switched over to Amazon I have gotten at least 15 games for free probably closer to 20 just on pre-order credits alone. Then I usually get a email saying I got a credit for like another 1-2 dollars for their lowest price guarantee.

SolidSystem4059d ago

I love using Amazon for my pre-orders. I get home from work and boom there it is.

ZeekQuattro4059d ago

This is to be expected. I only recently went to Gamestop last September. Before that I hadn't been in one since late 2007. The only reason I remember that was because when I went in they told me my Power Up card expired 5yrs ago. lol I know I'm not the only one to take my business elsewhere over the years. In many cases other businesses over better prices and more cash back if you trade in.

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40°

Interview on Fallout 4 with the Actor for Nick Valentine, Codsworth & Mr Handy (Stephen Russell)

Interview with Stephen Russell, Actor for (Nick Valentine, Codsworth, My Handy) in Fallout 4 which is a vast open world role playing game set in the apocalyptic wastes of Boston, the Commonwealth. The career goes further with other Bethesda games from Starfield to Prey to The Elder Scrolls V: Skyrim.

Read Full Story >>
gamerheadquarters.com
120°

Rocksmith+ Comes To PS And Steam In June

This looks like a great way to play.
Rocksmith+, the award winning music-learning app that teaches you guitar and piano with thousands of hit songs, is coming to PlayStation and Steam on June 6, and is available to wishlist now on both platforms.

420°

Report Claims Xbox Is Planning More Cuts Following Studio Closures

"The sudden closure of several video-game studios at Microsoft Corp.’s Xbox division was the result of a widespread cost-cutting initiative that still isn’t finished.

This week, Xbox began offering voluntary severance agreements to producers, quality assurance testers and other staff at ZeniMax, which it purchased in 2020 for $7.5 billion, according to people familiar with the company’s plans. Others across the Xbox organization have been told that more cuts are on the way.

Speaking about the closures more broadly, Booty said that the company’s studios had been spread too thin — like “peanut butter on bread” — and that leaders across the division had felt understaffed. They decided to close these studios to free up resources elsewhere, he said.

Game Pass has not seen the massive growth that Xbox boss Phil Spencer may have been hoping for."

Read Full Story >>
purexbox.com
just_looken14h ago

Sense it seems very few remember that human's were around before 2020 the next studio to close will be bethesda based no doubt on the history of.

Fallout 76
Elder scrolls online
elder scrolls blades mobile
fallout mobile
The vr versions of old games

Then you got starfield pissing out cash nothing to cover it.

I doubt tod's team or any sub team is making m$ cash they are no doubt on the chopping block for job cuts

If you can remember before 2020 even fallout 76 was made with over 4 studios.

purple1011h ago(Edited 1h ago)

pretty sure starfield coming to playstation 2024, nx gamer deep diving on the creation engine update in a recent blog, he seems to think, there is a lot of stuff developed to use on starfield for its Playstation release,

who will buy it though, ?? I think M$ has lost all good will now, after the Activision debacle, and now all these studios closing, people dont want to support them even if the game is half decent

Abear211h ago

Bethesda is the only studio to release anything noteworthy on Xbox. Take Bethesda out and they have nothing this Gen. Hifi Rush and Starfield are probably their two biggest hits.

-Foxtrot16h ago

"Speaking about the closures more broadly, Booty said that the company’s studios had been spread too thin — like “peanut butter on bread” — and that leaders across the division had felt understaffed. They decided to close these studios to free up resources elsewhere, he said"

So what you're saying is...you bought all these studios and you guys can't run them.

Jesus.

Inverno15h ago

Spread thin after firing over 2000 employees a few months prior. So basically they created the problem and their solution was to just fire more people. Absolute geniuses over at Xbox, of course can we even believe this to be the reason for the closures?

just_looken14h agoShowReplies(1)
Profchaos14h ago

Leaders can't run them hire more management create new roles don't shutter entire studios cause you can't figure out how to run them.

Unless the reality is this whole consolidation thing was really an excuse for IP harvesting

anast3h ago

He's lying. They are doing it for the shareholders.

Eonjay15h ago

Reports are suggesting that Game Pass will be getting a price hike soon and that Call of Duty may not be added to the day one offering. I honestly have a hard time believing this but it does beg the question why exactly did GP fail? I think the answer is that it just didn't get the growth that it anticipated. Jim was right but I wish he wasn't because at the end of the day, its gamers, devs and other front-line workers who have to absorb the blow for Spencer and team's miscalculations.

15h ago
NotoriousWhiz14h ago

And out of the ashes something even better than Xbox will be born.

Eonjay14h ago

Honestly as long as is not a situation where the industry has to contract in order focus wealth on a few people who are already trillionaires..

Barlos9h ago(Edited 9h ago)

It's already here and it was born before Xbox was even a thing. It's called PlayStation.

Tacoboto13h ago

I think 2022 killed the Series X.

2021 was a good year for Xbox though and maybe the best in a long long time, hardware and software and as a publisher. Halo Infinite launched to popularity, Forza Horizon 5 blew everyone away, Psychonauts 2 was so well received, Flight Simulator on console, Deathloop even on PS5 & PC.

But they followed that up with next to nothing. Then 2023 with Redfall, a disappointing Forza, Starfield, and 2024 leads with closures and layoffs. And some tweets reminding us Hellblade is days away.

The only disappointment with the PS5 is not enough Sony games. Xbox followed up no games with disappointing ones.

Scissorman15h ago

For all the armchair executives who were calling for Sony to release its big-budget AAA games on PS+, the same exact thing would have happened at PlayStation. Game Pass has killed Xbox. Congrats.

shinoff218315h ago

There's not many of of us clamoring for Sony to do this because most of us understand it would kill Playstation. I'm sure there's a few but I've not seen alot of it myself.

porkChop3h ago

"the same exact thing would have happened at PlayStation"

But the same thing *has* been happening at PS. They've closed, what, 3 or 4 studios so far this gen? Laid off plenty of staff, restructured studios, etc.

BehindTheRows2h ago(Edited 2h ago)

PlayStation isn’t struggling. Xbox is. That’s the difference.

Sony also didn’t buy out multiple publishers with LOTS of studios and leave them in a state of uncertainty.

So, he’s absolutely right that Sony not following Game Pass in its entirety was smart as this very thing could have happened. Name a team, like Tango, who wasn’t struggling (like Tango) that Sony closed. Every closure was because of a studio who wasn’t pulling their weight.

rlow12m ago

You’re right about that. People on here will turn a blind eye and downvote because it’s Sony. Jim Ryan flew to the London studio and spent the day with them. The very next day they were all fired.

Calling out MS and not Sony. No matter how the studios came to be. Won’t make a damn difference to those who lost their jobs. In the end it’s all the same.

15h ago
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