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>Sales at GameStop fell 16.4% in the last nine weeks of 2016, the company said, compared with the same period a year earlier. Shares of GameStop tumbled 9% on the news, to $22.50.
>And the company struggled to sell new video games “due to difficult comparisons to titles launched a year ago,” according to a press release. But it’s not just that some big 2015 games did well. The 2016 versions -- like Call of Duty: Infinite Warfare, released in November -- did particularly poorly.
>GameStop shares are down 16% in the last 12 months. Investors are paying just six times estimated earnings for the stock. That price-to-earnings ratio is 66% less than what the typical big stock gets.
>There’s good reason for the skepticism. Even though 2017 is expected to bring a better slate of games, the challenges facing traditional game retailers aren’t going away. It’s tough to get people to buy physical games in stores these days when they can play games on their phone or download titles directly to their consoles.
Guys, how do we save GameStop?