GameStop makes a huge pivot to Apple retailer – as retail video game industry dies

One of the last holdouts retail, video games, looks like it too will disappear. The biggest player, GameStop, who controls nearly two-thirds of the market, has been able to stay alive by pushing used games and devices. Last year the company earned $9.55 billion, 46% of which came from used items.

Unfortunately, that cannot sustain the company as more games go online, available for download. Which makes paying $60 for a cartridge much less appetizing for gamers, and takes away the bulk of GameStop’s earnings. This presents the company with a challenge…what to do next?

Believe it or not, become an Apple retailer. The company has opened an expansive new refurbishment factory for iPhones, iPads, iPod Touches. They hope to apply all that used experience to the booming world of the touchscreen.

Two articles cover this, the first is a summary and the second is a full behind-the-scenes feature:

In an effort to avoid the fate of Blockbuster, Circuit City and others in the remainder bin of failed retailers, GameStop has embarked on a daring, if inglorious, strategy: refashioning itself from a console-game purveyor into a repairer and reseller of Apple gadgets, betting that its retail visibility will prove an advantage. – Summary – SF Gate

 

“If you want to understand GameStop, you must understand refurbishment,” says GameStop CEO Paul Raines. Behind the tall executive lies a 182,000-square-foot facility filled with workers who are polishing discs, piecing together video game consoles, and rigorously testing pre-owned iPads, iPhones, iPods and Android tablets. It’s called the Refurbishment Operations Center, or ROC for short, and GameStop is giving us a first-hand tour of the $7 million facility. – Behind-the-scenes – The Verge

 

 

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United Kingdom unemployment matches ours – and they use funny terms to describe it

Read this for news on the world economy, or just enjoy the interesting words the Brits use to describe their unemployment: Jobseekers Allowance (unemployment benefits), shadow work (?)…

 

UK unemployment total falls to 2.58m

The unemployment rate fell to 8.1% in the period, down from 8.3% in the previous quarter.

The ONS figures showed that the number of people in employment rose by 181,000 to 29.35 million.

However, the number of people claiming Jobseeker’s Allowance rose by 6,100 to 1.6 million in June.

The number of long-term unemployed also increased, with those out of work for more than two years rising by 18,000 to a total of 441,000, the highest since 1997.

The shadow work and pensions secretary Liam Byrne said: “You’ve seen another big rise in the number of long-term unemployed… nearly half the people on the dole have been out of work for more than six months.”

Average total earnings were 1.5% higher in the year to May, the ONS said. When bonuses are excluded, regular pay rose 1.8% from a year earlier.

On average, UK workers earned £442 per week excluding bonuses.

UK unemployment rates

  • North East England 10.9%
  • Yorkshire and the Humber 9.7%
  • North West England 9.5%
  • Wales 9.0%
  • London 8.9%
  • West Midlands 8.6%
  • East Midlands 8.3%
  • Scotland 8.0%
  • Northern Ireland 6.9%
  • East of England 6.6%
  • South East 6.3%
  • South West 5.9%

 

Source: BBC – UK unemployment total falls to 2.58m

 

Continue reading United Kingdom unemployment matches ours – and they use funny terms to describe it

Poking fun at Google CEO, Larry Page – just how often does he say “excited”?

You know that favorite word you like to say 16 times in conversation?

A humorous post from Liz Gannes at All Things D, found the Google CEO’s favorite word.

Larry Page is so excited. And he just can’t hide it…Page does like to talk about how excited he is.

Having noticed the Google CEO’s fondness for using variations of “exciting” and “excited” when discussing his company’s products and businesses, we at AllThingsD had a bit of fun with the transcripts from his recent earnings calls.

Since Page reassumed the CEO role last year, he hit an all-time high of 16 mentions of “excited” on last year’s third-quarter call. His company’s performance made him both “incredibly excited” and “amazingly excited.”

This quarter, Page was a bit more muted: only eight mentions.

Not that we’re claiming to be scientific — at all — but Page does seem to be more effusive when Google beats analysts’ estimates for Google’s earnings per share.

 

The full list of exciting-isms: