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Blockbuster to close additional stores
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Blockbuster to close additional stores
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17th November 2009, 23:05
| #1 |
| [M] Reviewer Join Date: Dec 2007 Location: Calif. Bay Area, USA
Posts: 1,748
 |  Blockbuster to close additional stores Blockbuster plans to close an additional 525 to 600 stores in 2010 and beyond, adding to the 950 stores that are expected to close next year, Wedbush Morgan Securities analyst Michael Pachter noted. The movie rental service has faced increased pressure from Netflix, Redbox and similar services, which has drastically reduced the amount of foot traffic the store brings in each quarter. As the number of competitors continues to flood into the movie sector, each new company seems to chip away at Blockbuster’s profitability even more, despite the company’s recent attempts to make changes.' http://www.myce.com/news/blockbuster...-stores-22399/ |
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