AMC CEO Says Only “Very Prolonged” Strike Would Impact Theaters; Chain To Start Its Own Candy Lable
deadline.comAMC Entertainment CEO Adam Aron said the giant movie theater chain will start making its own candy line that will be cheaper for patrons, and for the company, given price hike by sweets manufacturers post-Covid. “We noticed, as a result of the pandemic and supply chain shortages, that candy manufacturers had increased their prices to us by a huge amount (some by over 30%).
That got us thinking very hard about our candy, and we realized that we could manufacture a private label brand of candy to very high quality standards, price it less expensively than our current candy is priced, and have a higher profit margin,” Aron said on a call today after strong quarterly earnings.
The company recently rolled out its new AMC Perfectly Popcorn brand at over 2,000 Walmart stores. It just launched an AMC-branded Visa card.
These add-ons to its core business come as the box office is rebounding. Aron was exuberant about the recovery and slate of films but noted AMC is still awaiting a greenlight from Delaware Chancery Court that would allow the company to raise cash if it needs to.
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