| Business Summary | | Video
Update,
Inc.
owns
and
operates
video
specialty
stores
throughout
North
America.
As
of
April
30,
2000,
the
Company
owned
and
operated
586
stores
located
in
29
states
and
five
provinces
in
Canada,
and
franchised
35
additional
video
specialty
stores
in
the
United
States.
As
of
April
30,
2000,
420,
or
approximately
92%,
of
the
Company's
stores
in
the
United
States,
and
101,
or
approximately
80%
of
the
Company's
Canadian
stores,
were
superstores,
defined
as
retail
video
stores
that
carry
more
than
10,000
rental
units.
Video
Update
stores
in
the
United
States
and
Canada
offer
on
average
approximately
13,500
and
12,600
rental
units,
respectively,
including
multiple
copies
of
new
and
popular
movie
releases
and
video
games. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Video
Update
owns
and
operates
video
specialty
stores
throughout
North
America.
As
of
4/00,
the
Company
owned
and
operated
586
stores
in
the
U.S.
and
Canada
and
franchised
35
additional
stores
in
the
U.S.
For
the
fiscal
year
ended
4/30/00,
revenues
fell
13%
to
$221
million.
Net
loss
fell
67%
to
$36.1
million.
Results
reflect
reduced
rental
revenue
due
to
the
closing
of
under-performing
stores,
offset
by
the
absence
of
a
$50.6
million
inventory
valuation
charge. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY2000 Pay | |
| James Skelton Interim
Pres and CEO, Director | -- | Jack Spencer CFO | -- | Michael Schifsky, 44 Sr.
VP | $131K | Dollar amounts are as of 30-Apr-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|