VIDEO SUPERSTORES SPUR FADEOUT FOR TWO STEELE'S RENTAL PROGRAMS

FORT COLLINS, Colo. -- Steele's Markets here closed two of its three video-rental departments in early March because profits have been eroded by competition from new video specialty superstores, said Russ Kates, president and chief financial officer.Several months ago a Moovies store moved in next door to a supermarket with a 2,000-tape department, while Moovies and Blockbuster opened up near an 800-tape

FORT COLLINS, Colo. -- Steele's Markets here closed two of its three video-rental departments in early March because profits have been eroded by competition from new video specialty superstores, said Russ Kates, president and chief financial officer.

Several months ago a Moovies store moved in next door to a supermarket with a 2,000-tape department, while Moovies and Blockbuster opened up near an 800-tape department over a year ago, Kates said. The four-store independent is keeping a

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