Soft B.O. hits Regal’s Q3 revenue

Cost cuts help exhib's profit remain flat year-over-year

A soft box office knocked Regal Entertainment revenue down 14% last quarter, but cost cuts managed to keep profit essentially flat compared to the year-ago quarter.

The nation’s biggest theater chain saw net income of $24 million for the three months ended in September versus $25 million a year ago.

Revenue fell to $630 million from $743 million.

Attendance dipped to 53.6 million from 58.7 million, with average ticket prices about flat at $8.79. Admissions revenue fell to $471 million from $515 million.

Concession sales fell $10 million to $187 million.

Regal has 524 theatres with 6,621 screens in 37 states and Washington, D.C.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety

Loading