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GameStop reports $ 673 million. All Year Loss – Game Rant



The printer on the wall for video game retail chain GameStop has not looked good for some time. The company has consistently experienced significant revenue losses in recent years as it tries to find ways to stay relevant in an ever-growing digital ecosystem. These shortcomings continue to present themselves, while GameStop reports a massive loss during the previous financial year.

While GameStop's financial year in 2018 officially ended on February 2, the company reported a total full-year loss of $ 673 million. This is disturbing news for the retailer, who was negotiating to be bought almost a year ago. While the company revealed that it had stopped searching for a buyer, the announcement saw a sharp decline in stock prices, further emphasizing the market's lack of faith in the future of retail businesses that were a sustainable investment.

In recent years, Gamestop has attempted to take new business approaches in an attempt to remain competitive in the game room. By increasing the sales prices of physical purchases, adding a new level to its Power Up Rewards program and offering the ability to buy digital codes in the store, showing the company's resilience, it has not been very successful in the long run. Last summer, GameStop joined its Elite Power Up Rewards program, and recently, Sony has stepped in and said it would soon cease selling digital codes in stores.

At other times, the dealer failed when trying to connect with consumers. From failed attempts to crack jokes in combat royally through the upcoming release of Madden 19 to pre-order issues that cause customers to lose reserved copies to the PS4 package Kingdom Hearts 3 Consumers have started turning to other places like Amazon to fill their physical game needs, digging a bigger hole for GameStop to try to crawl out.

 gamestop loss over half a billion ]

At least GameStop still seems to find new ways to adapt to an ever-growing consumer market. Smokers have been buzzing that the company's new CEO, George Sherman, wants to push for a new vision that would make GameStop a more "cultural experience". It's no secret, the company can no longer survive as a predominantly video game dealer, with partnerships like ThinkGeek becoming an extra way to store store shelves with clothing and physical goods. However, whether the shift towards this new vision will rejuvenate the profits of GameStop is still to be seen.

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