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Business

GameStop Reports $ 488 Million Loss In Third Quarter – Game Rant





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games have been all-digital by 2022. The game industry continues its march towards a digital market, with some analysts even stating GameStop has been struggling to keep up with this market shift for quite some time and it seems that the company will continue to do so, as it reported a loss of $ 488 million in the third quarter of 2018, despite solid growth from hardware sales and accessories.

GameStop reported a 13.4% decline in pre-owned sales during the third quarter, which is the most integral aspect of the company's "circle of life" business model. Pre-owned sales have the highest profit margin of any game sales, so any sort of decline for the category is particularly damaging to the company. However, GameStop reported a 10.4% increase in new software sales, which is a great sign for the industry as a whole.

 gamestop buyout

Hardware also experienced significant growth in the third quarter, with a 12.3% increase in new hardware sales. GameStop acknowledged the increase was due to a high demand for the PS4 and Xbox One X. Accessories, which are mostly comprised of headsets and controllers, also experienced growth, with a 32.3% increase in total sales.

Men, den stærke væksten i flere kategorier kunne ikke spare GameStop fra et betydeligt netto indtægtstab på $ 488 mio. It's more bad news for the company, which has had rumors of a potential buyout circulating for quite some time. GameStop has begun to pivot its sales strategy by dedicating more shelf space to collectibles, but only time will tell if it is effective enough to stop the company from hemorrhaging money.

Even though GameStop is losing money, all of the information is released in its Q3 results are bad. De voksende hardware- og programvaresalg betyder at flere mennesker er at købe og spille spil, hvilket er et godt tegn på industriens fremtid. Oktober, in particular, was a massive period of growth for the industry according to the NPD group, which is responsible for tracking industry trends. The group reported a 73% growth in year-over-year sales in October thanks to behemoth games like Red Dead Redemption 2 and Black Ops 4. The future may not be so bright for GameStop, but it certainly is for games themselves.

Source: GameStop

  



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