Michael Pachter
PER
Pachter Michael Pachter
Michael Pachter, an analyst at Wedbush Morgan, said that Blockbuster's recent results -- for the third quarter, same-store revenues declined 3.8 percent, gross profits fell 8.3 percent and worldwide rental revenues fell 2.5 percent. He said that they all believed that the decline in rentals that they had seen in the prior three years was attributable to a rise in DVD sales. But, Mr. Pachter noted, even as DVD sales growth slowed to 7 percent last year, rental revenues declined by 9 percent.