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Blockbuster Reports 1Q Earnings
May 23, 2008
Dallas-based Blockbuster Inc. reported net income of $45.4 million for the first quarter ending April 6, 2008, compared to a net loss of $49 million for the same time period last year. Total revenues declined 5.4 percent to $1.39 billion, versus $1.47 billion; while domestic same-store sales rose 2.9 percent and international same-store sales dropped 1.5 percent. Total gross profit declined to $741.7 million, with domestic gross profit remaining flat at $519.6 million. Operating income was $70.2 million, compared to a loss of $19.4 million last year. Blockbuster operates more than 7,700 stores throughout North America, Europe, Asia and Australia.
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DDI visited the new JCPenney department store at Manhattan Mall in New York and spoke with store manager Joe Cardamone. Below is video of that conversation paired with a walk-through tour of the new store. For more on the JCPenney store, look out for DDI's November/December issue mailing out at the end of November.
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