Wal-Mart challenges GameStop with video game trade-in service

Wal-Mart plans to expand its video game trade-in program to its stores, offering store credit for thousands of video games. The world's largest retailer will let video game owners trade in used video games online and in stores for store credit and will sell refurbished used games in its stores for the first time, according to Arkansas Business.

The plan is the biggest threat to GameStop, which has the largest and most well-established video game trade-in program. GameStop shares fell $1.84, or 4.6 percent, to $37.89 in morning trading yesterday. The stock had been down 19 percent since the beginning of the year.

"Gaming continues to be an important business for us and we're actively taking aim at the $2 billion pre-owned video game opportunity," said Duncan Mac Naughton, chief merchandising and marketing officer for Wal-Mart U.S.

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