(Blockbuster article updated from May 13.)NEW YORK ( TheStreet) -- Blockbuster ( BBI) continues to tumble after it reported yet another quarterly loss on Thursday. During the first-quarter, the movie rental retailer lost $65.4 million, or 33 cents a share, compared with a profit of $24.9 million, or 13 cents a share, in the year-ago period for Blockbuster.
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On Thursday the company said it plans to add kiosks to 300 Kwik Trip convenience stores in the Midwest in an effort to compete with rivals like Netflix ( NFLX) and Coinstar's ( CSTR)Redbox. Other positives in the quarter include the easing decline in same-store sales, the closure of Movie Gallery, and "day and date" releases of new DVDs from three major studios, Wolf said. This will allow Blockbuster to receive new movies 28 days earlier than Netflix and Redbox. Another highlight was the double-digit gain in digital streaming revenues. While this only makes up a small part of its business, it could be a vehicle for potential growth. -- Reported by Jeanine Poggi in New York
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