Just wondering how CEX are making any money and still in existence considering the current financial climate with other businesses struggling?
As someone pointed out the other day in a deal thread, they have nearly 1500 copies of LA Noire for the 360. I might be wrong but that figure doesn't include stock that the franchised stores have. They are selling these for £10 and have must bought most of these in for a much higher price. Also have nearly 2000 copies of Black Ops for the 360.
They are still buying in loads of MW3 at £33 each. With the slight change of gaming online, they now don't offer codes with games (unless they keep sealed ones intact for sale). So why would you want to buy a game from there unless you've got credit?
I do know that they sell a lot of second hand phones, but surely this can't be enough to cover the losses they must be making on buying in games and blu-rays?
If anyone works for CEX, please feel free to join in.
As someone pointed out the other day in a deal thread, they have nearly 1500 copies of LA Noire for the 360. I might be wrong but that figure doesn't include stock that the franchised stores have. They are selling these for £10 and have must bought most of these in for a much higher price. Also have nearly 2000 copies of Black Ops for the 360.
They are still buying in loads of MW3 at £33 each. With the slight change of gaming online, they now don't offer codes with games (unless they keep sealed ones intact for sale). So why would you want to buy a game from there unless you've got credit?
I do know that they sell a lot of second hand phones, but surely this can't be enough to cover the losses they must be making on buying in games and blu-rays?
If anyone works for CEX, please feel free to join in.
Share with Messenger
61 Comments
sorted bybrb giving put cash or store credit for items
brb selling items on for more money
brb paying staff poor wage (so much so that they can't afford deodorant hence why the shops stink)
??????
Profit
(edited)
I would post a facepalm meme, but there just isn't one which encapsulates such levels of fail...
...on a three year old thread too.
oO
Argh are you serious. How long did it take you to find this buried thread and bump it up???
100% fail
I hope you had an antibac wipe for your lungs. I might have shared air with that guy while you were there! oO
1500 copies of one game doesn't automatically mean the business isn't viable. The amount of profit these stores make from just Apple stuff is unbelievable and that stuff doesn't stay on the shelf for long.
To the guy who wants to compete with his local CEX shop; you would have to buy for more and sell for less to compete, otherwise people will just go to CEX instead. If you can make that work, I would love to hear how lol
If my local CEX started selling fake tan I think their profits would rise about 40%.
(edited)
Newcastle? LOL.
(edited)
not really 100% profit. More like 50%. It would have been 100% if they bought it for nothing.
oO
(edited)
100% gross profit margin. However its a 3 year old thread so the margins have probably changed since the op
Oh, I thought profit margins worked out like this: Total Profit/Total Cost (including profit) x 100%. And specifically for this example the profit was 155 and the total cost was 310, therefore I assumed that it was 50% since 155/310 x 100% = 50%.
Belittles people and implies they are uneducated... Can't structure coherent sentences or properly punctuate.
Bravo.
When you buy something for £100 and sell it for £200, that is 100% profit.
Luckily, he didn't give me that disc and gave me another disc.
Just to be on the safe side, I used an Anti-bac wipe to clean the disc and case thoroughly when I got home.
No, I wouldn't recommend this.
I doubt you could make this "highly profitable" if you are asking for help with your business model on HUKD.
Buy games for less than Cex then walk across and trade them into Cex for an instant profit!
You can't lose
whenever I go to the shop to exchange my cheap mp3 player for £15 they say that they don't have cash....only offer a store credit.... WTF....?
but they recently opened shops in UK also opened shops in India...
Apple iPad Wi-Fi 16GB, B
We sell for : £310.00
We buy for : £155.00
Give exchange : £206.00
100% profit on cash lol. Not surprising really.
lol haven't they recently gone from free delivery to £2.50 too?
(edited)
I was trying to exchange an item for another one few days back.... and they told interbranch stock transfers takes about 3 weeks.... they suggested me to exchange the item get a credit voucher, send it to head office once I paid for the item through my card.... I think 3 weeks is a long time for courier....
remember they used to buy these ipad's for more than £250-280, they used to buy the 64gb3g ones for about £400 now they are selling less than that price.... now they got loads of 1st gen ipad's and if any thing goes wrong in 12 months they have to replace it...
The ones they bought for £250 they'll have made their profit on before buying more up at a lower price?
Quick example
HTC Wildfire S in mint condition, they sell for £165
I bought one from CPW yesterday for £119
So £45 more for a second hand one.
That's still a profit in an economic meltdown,
It's more impressive if you actually consider it's a 2nd hand goods shop.
Also without seeing the accounts, you wouldn't know if the Directors / Shareholders have been paid out any money?...
Economies of scale
they must make money the stores I have been in are always full
More power to CEX
Please explain why it is wrong?
50% of 155 is 77.5
155 + 155 = 235.5
If they were to sell the item at £235.5 then they would have made 50% profit.
100% of 155 is 155
155 + 155 = 310
Selling the item at £310 gives (gave) them 100% profit.