--(www.USEquityNews.com)-- 08/13/2008 - Video Store industry alert provided by U.S. Equity News. Hastings Entertainment, Inc. (NASDAQ: HAST), a leading multimedia entertainment retailer, will announce financial results for the second quarter of fiscal year 2008 via a press release issued before the market opens on Monday, August 18, 2008. Hastings Entertainment, Inc. is a leading multimedia entertainment retailer that combines the sale of new and used CDs, books, videos and video games, as well as trends merchandise, with the rental of videos and video games in a superstore format. We currently operate 152 superstores, averaging approximately 20,000 square feet, primarily in medium-sized markets throughout the United States.
Blockbuster Inc. (NYSE: BBI) recently reported financial results for the second quarter ended July 6, 2008. Total revenues for the second quarter of 2008 increased 3.3%, or $41.3 million, to $1.30 billion, as compared to the second quarter of 2007. Net loss for the second quarter of 2008 was $41.9 million, or $0.23 per share, as compared with a net loss of $31.4 million, or $0.18 per share, for the second quarter of 2007, which included an $81.3 million gain on asset sale. Net income improved $70.8 million year-over-year, excluding the prior year gain on asset sale. Adjusted net loss for the second quarter of 2008 totaled $36.1 million, or $0.20 per share, a significant improvement as compared with adjusted net loss of $96.5 million, or $0.52 per share, for the second quarter of 2007.
Building on a groundbreaking technology partnership announced earlier this year, LG Electronics and Netflix, Inc. (NASDAQ: NFLX) recently announced plans for the first Blu-ray disc player that will have the added benefit of being able to instantly stream a growing library of movies and TV episodes from Netflix directly to the TV. Available this fall, the LG BD300 Network Blu-ray Disc Player will play high definition Blu-ray discs, up-convert standard DVDs to 1080p and allow Netflix subscribers to instantly stream more than 12,000 choices of movies and TV episodes from Netflix to the TV for no additional charge. LG Electronics and Netflix will demonstrate the BD300 Network Blu-ray Disc Player for the first time tonight at LG's 2008 Summer Line Show at Morgan Library and Museum in New York City. (The event is open to invited media only.)
Archer Entertainment (OTC: AEMC) has established its proprietary, branded, global multimedia store www.archer.12buzz.com/store/, which is now open for business. Internet shoppers can purchase DVDs, music, MP3 downloads, TV programs, video downloads and more from all over the world. "Our multimedia store is powered by Amazon.com and Archer's strategic partner in Asia, 12buzz.com," said Michael Selsman, Archer CEO. 12Buzz is ranked at 7,700 in World Wide Web traffic, by Alexa, www.alexa.com, making Buzz one of the world's most popular web sites, and expects to be in the top three across Asia within the next few months, competing directly with Yahoo!, Google, MSN and Baidu, and can be found on more than 10,000 PCs in Internet Cafes in Thailand and as the home page on over 210,000 PCs in Internet Cafes in China and projects that number to rise to 500,000 this year. Buzz expects to deliver over 500m ads in August based on current levels and growth.
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