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Previously-Viewed Sales Spur Movie Gallery Q1 Same-Store Revenue Spike

18 Apr, 2005 By: Erik Gruenwedel

Less than a week before Hollywood Entertainment Corp.'s shareholders are expected to ratify Movie Gallery's $1.2 billion cash bid, Dothan, Ala.-based Gallery said sales of previously-viewed video helped spike same-store revenue 1.5 percent for the first-quarter 2005 (ended April 3) compared to a 6 percent decline during the previous quarter.

Gallery, which added 61 stores during the quarter, said it expects up to a 15 percent increase in quarterly revenue, to $228 million, when it reports full quarterly results during the week of May 9.

Last quarter, a 15.6 percent increase in the average number of stores operated helped Gallery increase revenue 6.6 percent, to $208.4 million.

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