Movie Theater Operator Marcus Corp. Posts Dim Q4 Results, But Execs Anticipate A “Real Summer Season”
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deadline.comMarcus Corp., which runs the fourth-largest movie theater circuit in the U.S., posted fourth-quarter results below Wall Street forecasts, but execs point to brighter days in the next few months.“If the film schedule holds,” CFO Doug Neis said during a conference call with analysts, “we have much higher hopes that we’re going to have a real summer season.” He noted an encouraging move by Sony, which bucked the tide of films being pushed out of the summer, with Peter Rabbit 2 shifting to May 14 from a prior release date in June.
Even if grosses don’t return to 2019 levels, he said, the dormancy of 2020 will be in the past.Revenue plunged 82% in the quarter ending December 31, to $36.7 million, and adjusted net losses reached $1.22 compared
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