• Business
    Benzinga

    PlayStation 5, Xbox Units Unexpectedly Arrived At GameStop Stores. Of Course, Chaos Ensued

    Restocking of Sony Corporation (NYSE: SNE) and Microsoft Corporation's (NASDAQ: MSFT) PlayStation 5 and latest Xbox consoles left Gamestop Corporation's (NYSE: GME) employees surprised, Bloomberg reported Monday.What Happened: The employees were given little notice of the fresh stock, which led to chaotic crowds at Gamestop locations posing a potential health risk amid the ongoing pandemic, according to Bloomberg.A GameStop manager reportedly shared a company email sent to the store minutes before the public announcement that indicated the location would have 15 new consoles available for pre-order. However, minutes after the announcement, a crowd of 40 appeared at the store, violating social-distancing norms.GameStop employees are sharing similar woes on Reddit, with one manager writing they had "ZERO warning" and calling the situation a "fiasco."The retailer said the last-minute notification was sent to ensure that individuals -- not resellers -- purchase the consoles.See Also: Microsoft, Sony's Big Woe With PlayStation 5, New Xbox Series: High Demand, Very Low Supply"We realize that in some situations our approach of notifying customers of this opportunity may have caused unintended reactions from both our associates and customers," the Texas-based game retailer said.Why It Matters: GameStop has shut 700 stores this year and expects to close more through 2022 as it attempts to trim costs, noted Bloomberg.Chewy and RC Ventures Founder Ryan Cohen called for a strategic review of the brick-and-mortar video game retailer and lambasted management for its 20th-century mindset while suggesting the firm duel with Amazon.com, Inc (NASDAQ: AMZN) for a share of the e-commerce market.GameStop isn't the only retailer reeling from the fallout of the shortage of the newest consoles.Online shoppers of PlayStation 5 and Xbox consoles crashed websites of both Walmart Inc (NYSE: WMT) and Best Buy Co Inc (NYSE: BBY) on the day of their launch.Price Action: GameStop shares closed nearly 4.3% lower at $12.72 on Monday.Related Link: The Street Price PlayStation 5, Xbox Series X Are Really Selling At, As Per The VergeSee more from Benzinga * Click here for options trades from Benzinga * PlayStation 5, Xbox, And Sneakerheads Drive StockX GMV To Record Highs Over Cyber Weekend(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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  • Style
    Footwear News

    Ivanka Trump Wears Gold Satin Dress and Matching Sandals for ‘Saturday Night Lights’ With Husband Jared Kushner

    Ivanka Trump and her husband, Jared Kushner, enjoyed a night out together over the weekend.

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  • News
    Reuters Videos

    Fauci: 'Something very strange' about COVID

    "I have not seen anything where you have a virus that in 40% of the people has no symptoms, and those who have symptoms, 80% of them have very mild to moderate symptoms that don't require any significant medical intervention. And then you have 20-25% of people who are devastated," Fauci told The Center for Strategic and International Studies' (CSIS) Senior Vice President Stephen Morrison on Monday. "There's something very strange about a virus that in most people barely bothers them, and in others it kills them. We still don't know why that's the case right now. We need to find that out," he added. Fauci's remarks came after some of the first U.S. healthcare workers received doses of the coronavirus vaccine and as the death toll in the U.S. crossed 300,000.

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  • World
    Quartz

    These three countries are in the lead to be Africa’s e-hub after the free trade agreement

    The first nation to deliver technological and policy achievement for Africa's increasingly integrated economy will become the gateway for entrepreneurs from around the world

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