Blockbuster turns profit

May 15, 2008 Blockbuster might have proved Thursday that rumors of the death of the video rental store have been greatly exaggerated. The giant of its industry not only turned a healthy profit in its first quarter but also grew same-store sales in the U.S. for the first time in five years. Blockbuster CEO James Keyes hailed the 2.9% same-store sales increase at domestic stores as proof that increased efforts to sell merchandise, as opposed to merely renting, is a worthy endeavor.

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