Good for you, Blockbuster. The Dish-owned former video giant has turned in its highest operating income since it was acquired out of bankruptcy more than a year ago. BB reported an operating income of nearly $14 million on revenue of nearly $334 million in the first quarter of this year.
Blockbuster also announced an additional 100 store closures coming up in the second quarter above and beyond the 500 stored that closed this quarter.
CFO Robert Olson tried to keep the store closures in perspective:
“You need to keep in mind that the Blockbuster international business is close to the same size as the domestic business . . . So 1/3 of the domestic stores closing translates into a far smaller number overall of the Blockbuster business.”
Is this the sign of better days ahead for beleaguered Blockbuster?
[via Home Media Magazine]
I did have BlockBust for a long time.. I put it on hold for a small time. I go back to start it up again. And what happens.
They Bill me (5) times saying the Credit Card did not go through.
But the Bank has it down as it did, and my account was still not back on.
I did get all the Money back, and droped Block Buster like a bad habit!
I will just hit RedBox, and keep my NetFlix online..
Sorry BlockBuster. No more for you!
Anyone else having trouble downloading the new ios% version?
This may well be good news…IF…they don’t close anymore stores in the same area. Where I once had the option of 4 different BB’s to choose from, I now have 1, unless I want to drive 15 miles or so.
Also I have to say for me personally, I only use BB for the “game pass” and an occasional kids rental for my daughter. Still can’t justify 2.99 a night when I have the Library (free) and Redbox (1.20) options.
Interesting,
Certainly confirms my research that movie rental industry is recession proof business.
They’ve already closed too many stores. While some, like a poster above, have limited choices most people have none.
This revenue includes closing and liquidating stores. It’s not a sustainable profit as they will eventually run out of stores to liquidate.
Tulsa had 22 BB stores a few years ago. There are five or six left and some of those are being shuttered. Only three will remain open (and, that is for now).
The BB Express kiosk business has been sold off.
Customers have long been unhappy with BB’s pricing, service, and policies.
I don’t see better days ahead.