Blockbuster Loss Narrows in Quarter

Dallas Blockbuster reported that its total revenues for the third quarter of 2008 decreased 2.7%, or $33.6 million, to $1.20 billion, as compared to $1.24 billion in the third quarter of 2007.

The company attributed the decline mostly due to lower rental revenues from subscription and a decline in the company-operated store base worldwide. The decline was partially offset by a 35.1% increase in domestic merchandise revenues driven by a significant increase in game sales.

Domestic same-store revenues for the quarter increased 5.1%.

Net loss for the quarter narrowed 48.3% to $17.8 million compared with a net loss of $34.4 million or $0.20 per share in the third quarter of 2007.