Feeling a little more free to do things after some debt refinancing in September, Blockbuster Inc. Now plans to boost its marketing and increase the number of movie copies it keeps in its stores during the fourth quarter of 2009.
The company also plans to start renovation some of its stores, with plans to make minor renovations in about 1,700 stores by the end of 2010.
The company plans to spend roughly $10,000-$20,000 per store to repaint, add flat-screen display televisions and make other minor changes in stores beginning this quarter, Blockbuster CEO Jim Keyes said. After renovating about 600 stores in 2008, the company was forced to conserve cash this year as the recession and competition took its toll, while it faced tight credit markets.
Unfortunately, despite the "good" news financially, the company still plans to close about 960 stores by the end of 2010.
Feeling a little more free to do things after some debt refinancing in September, Blockbuster Inc. Now plans to boost its marketing and increase the number of movie copies it keeps in its stores during the fourth quarter of 2009.
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