GameStop Wins Trade-In Market Game
NEW YORK (
) --
GameStop
(GME) - Get Report
has long dominated the market in video game trade-ins, and today it has registered its most dominating victory yet -- vanquishing
Wal-Mart
(WMT) - Get Report
and
Best Buy
(BBY) - Get Report
by forcing them to back out of the business.
e-Play
, the company that provides the kiosks for trade-ins used by both retailers, suspended its operations on Monday with no warning or notice.
Wal-Mart and Best Buy were both testing the kiosks at select locations. The kiosks rented games and DVDs for $1 a day and purchased used videogames from customers at fixed rates.
Amazon
(AMZN) - Get Report
, which entered the trade-in used video game market back in March last year, continues to offer the service.
GameStop, of course, can use all the good news it can get. Last month, the company reported disappointing holiday sales, which prompted management to cut its fourth-quarter outlook.
Shares of the company are gaining 1.2% to $20.17 in morning trading.
-- Reported by Jeanine Poggi in New York.
Follow TheStreet.com on
and become a fan on