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GameStop Announces Pre-Holiday Offers

Zacks Equity Research

There is a good opportunity for video game enthusiasts to pamper themselves. Multichannel retailer of video games, GameStop Corp (GME) has recently announced a range of pre-holiday special offers.

GameStop will be selling pre-owned Microsoft Xbox 360 and all Sony PlayStation 3 gaming systems at a reduced price for a limited time frame (Oct 11 to Oct 24). After a discount of $30, $60 and $110, Xbox 360, Xbox Slim 4GB model and PS3 will cost $99.99, $119.99 and $149.99, respectively. Along with the purchase, consumers will get a free pre-owned game of their choice of price $19.99 or less.

GameStop will also offer a pre-owned Kindle Fire 8GB for $89.99 and a pre-owned iPod Nano Gen 5 for $39.99 at a discount of $30 and $35, respectively.  

GameStop’s PowerUp Rewards members will be provided access to the promotional activities a day earlier. Moreover, the members can avail a 30% discount on all Xbox 360 and PS3 pre-owned accessories. PowerUp Rewards Pro members will be entitled to obtain an additional 10% rebate on their purchases resulting in 40% savings in total.

GameStop is leaving no stone unturned to exploit the opportunities offered by the upcoming holiday season. The company expects to benefit hugely from the highly anticipated launch of PS4 and XBOX, which are scheduled for Nov 15 and Nov 22, respectively. Along with that, the growing demand for the company’s products will likely continue through the holidays.

Consequently, GameStop is on the lookout to hire about 17,000 seasonal employees nationwide to assist in the upcoming launches as well as to cater to the busy holiday shopping season. The company had recruited nearly an equal number of employees during the same time period last year.

Apart from GameStop, all major retailers are gearing up for the holiday season. Retailers such as Target Corp. (TGT) Wal-Mart Stores Inc. (WMT) and Kohl’s Corp. (KSS) have announced their hiring plans for the approaching holiday season to effectively serve the increase in traffic.

Currently, Game Stop carries a Zacks Rank #2 (Buy).

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