Movie Gallery is closing its remaining 2,400 namesake and Hollywood Video stores after filing for bankruptcy last year. New technology, such as streaming video, and rivals like Netflix, are killing off brick and mortar movie-rental outlets.
Landlords could have a similar announcement by rival Blockbuster Inc. to look forward to in the future, as that chain deals with similar problems.
Continue reading ‘What Will Replace Movie Gallery Stores?’
Forbes just put out a list of the 10 fastest-growing retailers. Most of the choices are of little surprise, like Amazon.com, Apple stores, Netflix and Urban Outfitters.
There are a few listed that made us look twice though.
Continue reading ‘The 10 Fastest-Growing Retailers’
Published March 19, 2010
Blockbuster , DSW , Gamefly , GameStop , Netflix
GameStop plans to open 400 stores this year on top of the 6,450 it already operates worldwide. That is up from 388 last year, and in 2008, it rolled out 674 locations.
Landlords likely love a rapidly expanding retailer, especially during these times. But is there any concern that it could eventually face a fate similar to Blockbuster?
Continue reading ‘Can GameStop Sustain Its Growth?’
An article in today’s Wall Street Journal says that Blockbuster Inc. is in talks with bankrupt Movie Gallery to buy some of the latters assets. It did not specify what assets Blockbuster wants to purchase.
We would assume that it won’t take on Movie Gallery’s Hollywood Video leases. Blockbuster is already closing about one-fifth of its 5,000 stores around the world.
Continue reading ‘Blockbuster Buying Movie Gallery Assets?’
It looks like Walmart is taking on Netflix now in its continued quest for world domination. The retailer acquired VUDU, an online movie-watching service that sounds very similar to the Internet-based viewing service that Netflix offers its customers.
The transaction will supposedly make up for a lack of DVD sales from which Walmart is suffering.
Continue reading ‘Walmart Takes on Netflix’
Though company spokespeople are denying it, news reports say that Blockbuster has hired law firm Kirkland & Ellis to help it explore a possible bankruptcy filing.
Of course, Blockbuster has been on the retail watch lists of industry observers for a while now, and the chain’s main competition is performing extremely well in the recession.
Continue reading ‘Blockbuster Considering Bankruptcy?’