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Walmart price cuts spanked GameStop's stock? - Destructoid

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Walmart price cuts spanked GameStop's stock?


10:40 AM on 12.03.2009
Walmart price cuts spanked GameStop's stock? photo



Maybe. As you might have heard, Walmart cut prices on many of the hottest games and systems for this holiday season, putting the heat on all of its competition and showing that they are serious about selling you games.

GameStop stock fell over 8 percent, and Bloomberg says that they might have to drop their prices to match Walmart's to stay competitive. An analyst from Janney Montgomery Scott LLC, Tony Scott, says that GameStop has always benefited from Walmart's foot traffic. But now that the prices are lower at Walmart, there's no need to go next door.

GameStop's response to all of this?

We believe consumers will always rely on GameStop for the best values, the broadest selection, unparalleled product availability and knowledgeable game advisors they can count on.

Oh. So you're not going to cut your prices? Good luck with that.






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