|
|
Article: The personal touch: Movie Gallery and Blockbuster find themselves in the same wallowing boat.(competition)
- Article from:
- Video Business
- Article date:
- November 21, 2005
- Author:
CopyrightCOPYRIGHT 2005 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
With their same-store sales falling and their share prices plunging, the competition between Blockbuster and Movie Gallery is starting to get personal.
"Unlike some of our competitors, who find themselves lost in far-flung and unprofitable ventures, we are a lean and focused operation," Movie Gallery chairman-CEO Joe Malugen said in an earnings call earlier this month.
The comment was a clear dig at Blockbuster, which has poured more than $150 million into starting its so-far-unprofitable online subscription service.
The No. 1 retailer also gambled heavily on a bid to boost in-store rentals by eliminating late fees, along with the $400 million ...