blockbuster posts profit/loss statement!

**webby** · 11-12-2005, 12:17 PM

Blockbuster Going Bust?
Video rental chain ditches late fees, loses revenue, posts loss.

Blockbuster posted a loss of $491 million, or $2.61 per share, as revenues fell 2% to $1.39 billion, a shade below analyst expectations of $1.41 billion. While rental revenues were actually up 11% for the quarter, reflecting the price increase the company instituted earlier this year, the company was socked by the loss of $117 million in late fees that it gave up to entice customers to keep coming back. Yet even that did not work; same-store sales fell nearly 4% from last year. Perhaps that's because customers were confused about whether they actually had to pay late fees or not.

http://msnbc.msn.com/id/9978510/

wow - half a billion dollar loss.....

**Silver8th** · 11-12-2005, 04:19 PM

NetFlix all the way!!!..Screw Hollywood video and Blockbuster!! They will rob people in late fees!!

Eazy · 11-12-2005, 06:19 PM

Quote:

Originally Posted by ~racnjsn04~

NetFlix all the way!!!..Screw Hollywood video and Blockbuster!! They will rob people in late fees!!

Blockbuster dosent have late fees anymore. :)

06EX Owner · 11-13-2005, 10:20 PM

May be they should sell new DVDs for a reduced price the first week of release like Circuit City or Best Buy....not that jacked up full retail deal!
That may help!

Ep3racer954 · 11-13-2005, 11:27 PM

well people should have done what i did.. invest some money in that movie pass thingy... you get 2 movies at a time and you can keep it as long as you want.. it made sense to me although now i dont really rent that many movies and it kinda seems like a waste.. but yea thats what im doing

11-12-2005, 12:17 PM	#1 (permalink)
webby Acorns! Join Date: May 2005 Location: Storage Room B Posts: 14,470 iTrader: 12 / 100%	blockbuster posts profit/loss statement! Blockbuster Going Bust? Video rental chain ditches late fees, loses revenue, posts loss. Blockbuster posted a loss of $491 million, or $2.61 per share, as revenues fell 2% to $1.39 billion, a shade below analyst expectations of $1.41 billion. While rental revenues were actually up 11% for the quarter, reflecting the price increase the company instituted earlier this year, the company was socked by the loss of $117 million in late fees that it gave up to entice customers to keep coming back. Yet even that did not work; same-store sales fell nearly 4% from last year. Perhaps that's because customers were confused about whether they actually had to pay late fees or not. http://msnbc.msn.com/id/9978510/ wow - half a billion dollar loss.....

11-12-2005, 04:19 PM	#2 (permalink)
Silver8th Join Date: Sep 2005 Location: GA Posts: 6,816 EARL iTrader: 4 / 100%	NetFlix All the Way NetFlix all the way!!!..Screw Hollywood video and Blockbuster!! They will rob people in late fees!! __________________

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11-13-2005, 10:20 PM	#4 (permalink)
06EX Owner Senior Member Join Date: Oct 2005 Location: SW Florida Posts: 166 iTrader: 0 / 0%	May be they should sell new DVDs for a reduced price the first week of release like Circuit City or Best Buy....not that jacked up full retail deal! That may help!

11-13-2005, 11:27 PM	#5 (permalink)
Ep3racer954 Senior Member Join Date: Aug 2005 Location: Pompano Beach, Fl Age: 19 Posts: 1,672 FG*SQUAD #87 iTrader: 3 / 100%	well people should have done what i did.. invest some money in that movie pass thingy... you get 2 movies at a time and you can keep it as long as you want.. it made sense to me although now i dont really rent that many movies and it kinda seems like a waste.. but yea thats what im doing