Retail Industry
Industry: Email Alert RSS FeedWherehouse integrates Blockbuster Music sans rental.
Video Business, December, 1998 by Garrett, Diane
Wherehouse Entertainment's plans for Blockbuster Music apparently do not include video rental.
A spot check of 20 Blockbuster Music stores in Southern California revealed that all stores renting videos under previous parent Viacom ceased to offer rentals Oct. 12, two weeks before Wherehouse assumed ownership. The move is the latest indicator of the Torrance, Calif.-based audio/video combo chain's waning commitment to video rental. Once a pioneer in that side of the business, the chain has been cutting the number of stores that rent videos; the stores will continue to sell them.
In its latest earnings statement filed with the Securities and Exchange Commission, Wherehouse stated that its rental revenues declined 31.4% in the second quarter,...
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