Blockbuster Q3 loss widens, misses Street

Dallas Blockbuster said late Thursday it lost $116.8 million in the third quarter, compared with a loss of $20.6 million in the year-ago period. Sales fell 21%, to $910.5 million from $1.16 billion. Same-store sales fell 14.4% worldwide, with the United States experiencing a drop of 18% and international stores down 5%.

Analysts expected revenues of $1 billion for the quarter ended Oct. 4.

The company attributed its negative results to a reduction in stores and negative impacts of foreign currency exchange.

Blockbuster said it expects to close at most 115 stores in the fourth quarter. That's in addition to the 216 it has closed through the third quarter.