![]() With more states adopting a $15 minimum wage, struggling businesses, particularly retailers who hire young employees, are going to see their expenses jump just to keep their doors open. Is there a way out for GameStop? It’s getting harder to see one. GameStop has suffered from lower console/hardware sales, but much like other entertainment retailers, the company is also being impacted online retailers and digital game sales. To be fair, the “collectibles” portion of GameStop’s business grew 11% in 2018. This is third full-year loss in GameStop history, though it also comes despite the $700 million sale of its Spring Mobile retail chain and the continued cluttering of GameStop stores with Pop! Figures, blind bag toys, and Five Nights at Freddy’s merchandise. The immediate result was a 13% drop in GameStop’s stock price, yet again calling into question the company’s long-term viability. Earlier this week, GameStop revealed their 2018 financials which showed a loss of $673 million in the past year.
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