Blockbuster agrees with analysts 3Q outlook
DALLAS Blockbuster said that it is reiterating its full-year 2008 adjusted EBITDA guidance and that it is comfortable with third quarter 2008 analyst estimates. Contributing to the third quarter results, domestic same-store revenues increased 5.1% with domestic same-store rental revenues up 0.8%.
"As a result of the initiatives we have put in place, the company delivered its third sequential quarter of positive domestic same-store sales, an especially significant achievement in today's retail environment. We are also reiterating our previously announced full-year 2008 adjusted EBITDA guidance," said Jim Keyes, Blockbuster chairman and ceo. "Blockbuster's core rental offering provides customers with an excellent value, which is especially important in these challenging times. We believe this consumer value, along with the steps we are taking to control costs and transform Blockbuster into a multi-channel provider of entertainment, positions us well for both the near- and long-term."