Blockbuster owner Dish Network has already closed a wave of underperforming stores over the last year or so. The cuts are apparently going to go even deeper than planned, as the company has announced that further store closures are going to take place.
The number of Blockbuster’s 1,500 remaining locations that will be closed in this latest round has not been disclosed. A Dish spokesperson reiterated the company’s policy of eliminating underperforming stores:
“As we have said in previous statements, we remain committed to maintaining only those stores that we believe we will be able to operate profitably . . . For employees of any closing stores, we intend to relocate as many employees as possible to other stores.”
B. Riley & Co. analyst Eric Wold predicts that the additional store closures will send even more customers over to Blockbuster rival Redbox. Said Wold:
“Any increase in Blockbuster store closures gives us added comfort with our projections,”
How deep do you think the Blockbuster cuts will go this time, Insiders? Is there still a Blockbuster store in your area?
(via Home Media Magazine)
Block-who?
It’s one thing to close under performing stores. Economies change, market trends change, etc.. It should be rare but it can and does happen. It’s another thing entirely to lose your geographic footprint. I’ll use Sears as an example since the news on them has been fluctuating. They were (are) struggling and decided to close less than 1 percent of their stores. Then the financial reports showed a rebound. Blockbuster however is closing so many stores that they are abandoning their market entirely at this point. It’s not a case of driving further to one, it’s a case of not having one in your entire state.
I agree. I love blockbuster but now with the recent closings there are absolutely none in my area. Now they have forced me to redbox exclusively
I have a Blockbuster less than half-mile from me and it is always crowded. Next door stands a Redbox and it has a line waiting to check its listing. The closest Blockbuster Kiosk is 3 miles away so if they close the Blockbuster Store people will switch over to Redbox and not have to drive the 3 miles to the Blockbuster Kiosk. Does Blockbuster care?
BlockBuster closed the store near me. About mile from me. The other store I go to now is about six miles from me. I can live with that. But if they close it. I will drop my two out at a time. I have BlockBuster two out at a time. And Netflix all you can watch online. It is working just fine for me. If BlockBuster wants to keep me. They best keep the store open! Time will tell.
I haven’t seen a Blockbuster store in 2 years.
Blockbuster is in the process of closing the store that is less then a mile from my home. The next closest one is 7 or 8 miles. So long BB
Even funnier, they labeled it a “store moving sale”. So the guy in front of me in the store asked them where are they moving to.
The answer “blockbuster.com”
Hilarious
I’ve been using Blockbuster Express as it gets the latest DVDs. What do they do but raise their prices on new releases. Management, at Blockbuster, must have been taking “Netflix” dumb pills. The kiiosk rental business is competitive with redbox, streaming VOD services and a couple other smaller players. Raise your prices and you’ll drive a portion of your customers to competitors. Drive enough people away and you’ll have to start closing stores, locations, etc. Raise your prices high enough and it becomes cheaper to buy the DVD — maybe that’s what they want us to do —
Blockbuster doesn’t own the Blockbuster Express Kiosks.
NCR (National Cash Register) owns them (the kiosks), and is only licensing the Blockbuster name.
What a shame. Worked at a profitable Blockbuster (parttime) and it still closed. Don’t understand. Overpriced store rentals.
Blockbuster is just changing to suit the future, for the most part, their new offers don’t demand the need for a brick and mortar store. I’ve been using the Blockbuster Movie Pass for a few months now, and I get streaming straight to my receiver. This is easier for me since I can access this on multiple TVs and not just the one that my Xbox is on. I still get the disc rentals in the mail at no extra charge, and working for DISH I know that they cover video games and blu-rays.