It took a while but video game sales might finally be feeling the effects of the slow economy. The industry that's often been hailed as recession-proof has posted some dismal sales numbers recently.
Even when consumers curb their spending, they have a hard time letting go of their favorite vices. Sales of guilty pleasures such as chocolate, cigarettes, and alcohol usually stay strong during downturns. Now it might be time to add videogames to the recession-proof roster: Last year the industry's overall U.S. sales jumped 19% to $21 billion, according to NPD Group.
Happy Presidents' Day! Even if you have to work (like I do), the best part of this holiday is that the stock market is closed. And after last week, we all need a break.
"Are you ready?" shouts Josh Ball, manager of GameStop No. 1,782 in Euless, Texas, near Dallas. He's standing before more than 100 fidgety young men and women lined up in the strip-mall parking lot outside his store. They've been here for hours in the warm spring air, waiting for midnight when the latest version of Grand Theft Auto - the ever controversial hoodlums-and-pimps videogame - goes on sale. It's getting close to the appointed hour, and these people can barely contain themselves.
The build-up to next Tuesday's launch of Grand Theft Auto IV is accelerating, with more retailers announcing plans to open their doors at midnight to toast and tout what could be the game industry's biggest opening day ever.
The uncertainty that confronts consumers and investors in the U.S. is staggering. There's the price of gasoline, which creeps higher almost daily; a housing market that month after month gets gloomier and gloomier; and the conflict in Iraq that has cost the U.S. an estimated $3 trillion.
Regional department store chain Bon-Ton Stores, video game specialist GameStop and restaurant chain operator Triarc secured the top three slots in this year's list of the "Hot 100" retailers with the fastest-growing sales.
Shoppers hit the streets early and often in the Big Apple this Black Friday. And by late morning, many were already weary.
How far are we from Dow 12,000? Less than 150 points away. When will we hit it? Ah, that's a much more difficult question. I say THIS YEAR.
In a new industry ranking Tuesday, video game specialist GameStop, online merchant Overstock.com and kids' apparel merchant Children's Place took the top three slots in a list of the "Hot 100" retailers with the fastest-growing annual sales.
Best Buy is walking a thin line with its latest in-store test -- one that might thrill cost-conscious consumers, but earn the ire of video game publishers and developers.
THE MARKET'S DRAMATIC, HEADLINE-grabbing upswing in acquisitions during the past few months is masking another key trend that often follows a merger wave: the return of the spinoff. For investors w...
Money Magazine: Atari Reduxupdated: Tue Jul 01 2003 00:01:00
When I was 11, I was obsessed with Atari home video games, especially an insects-in-space shoot-'em-up called Yars' Revenge. It was the hot game in the summer of '82, but it cost more than $32 (abo...
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