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Due to the current poor economic climate and consumer’s lack of disposable income on leisure items like DVDs, Best Buy took a 23% in their fourth-quarter earnings it was revealed today.

“We are not blind to the economic realities facing all companies today. This environment presents a tremendous amount of opportunity, and we intend to take full advantage of those opportunities,” said a company representative during a press conference earlier today.

It is interesting to note that the company took a larger hit from DVD sales than the did from video game sales, dropping 10% and 4% respectively. As analysts predicted, customers are more likely to buy the latest video game that the latest movie because you get more “play” out of a game than a movie you may watch once or have already seen at the cinema.

VideoBusiness.com revealed that Best Buy’s overall net income for the quarter ended Feb. 28 decreased to $570 million, or $1.35 a share, from $737 million, or $1.71, a year earlier, as sales rose 9.7% to $14.7 billion. For the fiscal year, profit, excluding one-time costs such as restructuring and impairment charges, was $2.88 a share, compared to the midpoint of its January forecast of $2.60 a share.

Because of the poor economy it makes a lot more sense to rent DVDs instead of forking out to buy them outright. By utilizing a service such as the one here at Free DVD Rental Online, you needn’t spend a penny on any DVDs for the foreseeable future. Visit the main page for more details.