Business Services Industry
Blockbuster Reports Higher Earnings for Quarter, Calls 2002 Prospects Positive.
Knight Ridder/Tribune Business News, February, 2002
By Maria Halkias, The Dallas Morning News Knight Ridder/Tribune Business News
Feb. 13--Blockbuster Inc. reported significantly higher fourth-quarter earnings Tuesday and told investors that its prospects for the year are positive, based on consumer demand for DVDs and video games for new platforms.
The Dallas-based chain of nearly 8,000 home entertainment stores also said it plans to sell video game players and other electronics -- and that it may create or acquire a free-standing game store.
The first quarter could be difficult because of competition from the Winter Olympics and Blockbuster's tough comparisons from a year ago, management said, but revenue gains will improve by the second quarter, with the start of a stronger film...
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