Wal-Mart taking on GameStop in used games; good luck with that

By | March 18, 2014

Scalper1 News

GameStop (GME) investors were spooked Tuesday by an announcement from Wal-Mart Stores (WMT) that the discount retailer is entering the used video game market. Used games are a major profit center for GameStop and a business the specialty retailer has successfully defended before. GameStop stock was down nearly 4%, near 38, in afternoon trading on the stock market today, while Wal-Mart stock was up a fraction. Starting March 26, Wal-Mart customers will be able to trade in video games and apply the value toward the purchase of anything sold at Wal-Mart and Sam’s Club, both in stores and online. The traded-in games will be refurbished and resold by Wal-Mart “in like-new condition at a great low price,” the company said in a press release. “Gaming continues to be an important business for us and we’re actively taking aim at the $2 billion pre-owned video game opportunity,” Duncan Mac Naughton, chief… Scalper1 News

Scalper1 News