Retail Industry
Industry: Email Alert RSS FeedBlockbuster lifts Q3.(VIDBITS)(Brief Article)
Video Business, October, 2005 by Sweeting, Paul
After enduring weeks of speculation that it's facing insolvency, Blockbuster said its third-quarter same-store sales would not be as bad as feared. "Blockbuster preliminarily estimates domestic same-store rental revenue for the third quarter of 2005 to be down approximately 1%, including online rental revenue and after the impact of the elimination of extended viewing fees, which accounted for approximately 13% of the company's third-quarter revenue in 2004," the company said.
It contrasted that with estimates from Rentrak that the industry as a whole would be down 11.7% for the quarter. No. 2 rental chain Movie Gallery said last month that its third-quarter same-store sales would be down 8% to 10%. However, Blockbuster's statement added that the company is...
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