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Website: http://www.blockbuster.com Blockbuster is a leading global chain offfering movies and video game rentals, with 3,525 stores in the U.S. and 1,695 stores internationally. Most stores are company-owned but some are franchised. Company-operated stores are open 365 days a year generally from 10 a.m. to midnight. Total revenues for 2009 were $4.06 billion, compared to $5.07 billion in 2008. The company's net loss was $558.2 million in 2009. Same-store sales decreased 15.6 percent in 2009. Blockbuster is facing significant competition from movie-on-demand cable services, rental kiosks and online rentals from Netflix. The company has introduced its own rental kiosk called Blockbuster Express with 2,000 locations around the country and plans to add 7,000 more in the next year. The company closed 374 domestic stores in 2009 and expects to close several hundred more stores this year. History Blockbuster Entertainment Corporation was incorporated in Delaware in 1982 and entered the movie rental business with the opening of its first store in October, 1985. On September 29, 1994, Viacom acquired Blockbuster. In August of 1999, Viacom took Blockbuster Inc. public with an initial public offering of approximately 18% of its stock and Blockbuster made its debut on the New York Stock Exchange as "BBI". In 1998, Blockbuster opened a state-of-the-art distribution center in McKinney, TX, just north of the company's Dallas headquarters. The 850,000 square-foot facility supports all company-operated stores in the United States. In October 2004, Viacom divested its remaining interest in Blockbuster and it is now a fully independent company. Benefits - Free Video & Games Rentals &
discounts on merchandise Updated Feburary 25, 2010 |