Blockbuster Domestic Same-Store Sales Climb

Blockbuster said its fourth-quarter domestic same-store sales climbed 4.4 percent, as increased sales of games, game merchandise and consumer electronics offset a decline in movie rentals.

The good news comes on the heels of the struggling company's hiring of corporate restructuring specialists Kirkland & Ellis to help rescue it from a financial bind. Blockbuster is hoping the firm can re-negotiate the terms of its outstanding loans and arrange financing to keep it afloat during the economic downturn.

Dallas-based Blockbuster Inc. said full-year domestic same-store sales rose 6.4 percent.

Same-store sales, or sales at stores open at least a year, are a key indicator of retailer performance since they measure growth at existing stores.

Shares fell 2 cents, or 4.3 percent, to close at 45 cents Thursday.

Copyright AP - Associated Press
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