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INCREASED COMPETITION, WEAK ECONOMY HURT SALES AT PUEBLO

SAN JUAN, Puerto Rico -- Pueblo Xtra International here said the company's declining sales and same-store sales, as well as its increasing net loss, in the first quarter was due to increasing competition and to a decline in the Puerto Rican economy in the past year or so.sed 10.4% for the quarter. The company attributed this decline to increased competition and a lack of customer interest in renting

June 25, 2001

1 Min Read
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SAN JUAN, Puerto Rico -- Pueblo Xtra International here said the company's declining sales and same-store sales, as well as its increasing net loss, in the first quarter was due to increasing competition and to a decline in the Puerto Rican economy in the past year or so.

sed 10.4% for the quarter. The company attributed this decline to increased competition and a lack of customer interest in renting or buying the new videos released during the period.

For the quarter, the company recorded a net loss of $4 million, compared with a net loss of $800,000 in the previous year's opening quarter.

William T. Keon 3rd, Pueblo president and chief executive officer, said Pueblo remains focused on innovation and cited the company's introduction of a smart card as an example.

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