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While the Blockbuster Entertainment Group and Hollywood Entertainment Corp. continue to open new video stores and make new acquisitions, another big public video chain is putting the brakes on expansion.
Video Update in its year-end filing for fiscal 1998 indicates it will stay at home and take care of business after a wild year that included 84 new store openings and the acquisition of 267-store Moovies Inc. in March.
Video Update, a 681-store chain based in Minneapolis, appears to be following the same path as 842-store Movie Gallery of Dothan, Ala., which is reporting improved financials this year as a result of a slow-growth strategy implemented in 1997.
In its 10-K...