The hard times just keep slapping Blockbuster. The company announced Wednesday that it posted a $435 million loss for the fourth quarter.
The poor performance is especially hard, considering it happened in the fourth quarter--usually Blockbuster's best months. In the third quarter, the company lost over $114 million.
Back in September, the company announced that it would be closing up to 960 underperforming stores to increase its earnings by $50 million to $60 million. Blockbuster closed 374 U.S. stores last year and plans to accelerate its plans to shutter an additional 545 retail locations this year.
To revitalize … Read more