As Black Friday gets closer, deals for the day keep getting more and more irresistible. After a string of retailers unveiled their Black Friday deals, it is now the turn of the video game retailer, GameStop Corp. (GME). The company has announced jaw dropping deals for video games, consoles, smartphones, tablets and several other consumer electronics goods for Black Friday.
Though shutters will stay down on Thanksgiving, most stores will open at 12.01 A.M the next day. Moreover, GameStop is employing innovative methods to help customers purchase more while saving more.
The company’s ‘buy-back program’ will disburse $25 million in cash or credit by purchasing pre-owned video games and other miscellaneous consumer electronics products. Moreover, with the PowerUp rewards program, GameStop will provide special financing till the end of 2014 for purchases worth $250 and above. It has also brought more products under its layaway program. Also, customers can set aside the selected products beginning Nov 26 till Dec 14, 2014.
Coming to deals, this Black Friday, GameStop will offer $100 discount on Sony Corp’s. (SNE) PlayStation 4 Limited Edition and will give away copies of Grand Theft Auto V and a digital version of The Last of Us Remastered. It will offer $70 off on Microsoft Corporation’s (MSFT) Xbox One Assassin’s Creed bundle with Kinect including digital copies of Assassin’s Creed Unity and Assassin’s Creed Black Flag (Friday/Saturday only). Also, it will offer Wii U Super Mario 3D World bundle for $299.99, inclusive of the 32GB Wii U Deluxe Set, Nintendo Land video games and Super Mario 3D World.
The entire deals catalogue is available on the company’s website. Moreover, customers can purchase goods on Thanksgiving via the online portal and receive free shipping. The company, which competes with Best Buy Co., Inc. (BBY), is leaving no stone unturned to lure game lovers.
However, earlier this month, GameStop posted lower-than-expected third-quarter fiscal 2014 results and narrowed its full-year earnings forecast. Management hinted that fall in sales of the prior-generation software on account of transition to next-generation consoles and shift in titles out of 2014 compelled them to trim the guidance. This has resulted in strong downward estimate revisions over the past 30 days, which is well reflected in GameStop’s Zacks Rank# 5 (Strong Sell).
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