Blockbuster Loses $20 Million

3Q report better than expected

Thursday, Nov 6, 2008  |  Updated 4:21 PM CDT
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Blockbuster Loses $20 Million

AP

Blockbuster reported losses of $20.6 milllion in the third quarter

Blockbuster Inc. says it cut its third-quarter loss by more than 40 percent.

The better-than-expected results amounted to a net loss of $20.6 million, or 11 cents per share, for the quarter.

It's a marked improvement from the Dallas-based movie rental chain's $37.2 million loss during the same period last year.

Revenue slid nearly 3 percent to $1.20 billion during the three months that ended Oct. 5.

Meanwhile, the company's same-store sales rose more than 5 percent.

That's an important retail industry metric of sales in stores open at least a year.

 

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