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Marcus – Nation’s Fourth Largest Theater Chain – Swung To The Red Last Quarter On COVID-19 Hit, Charges

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deadline.com
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By Jill Goldsmith Marcus Corp, which owns the nations fourth largest movie chain as well as restaurants, hotels and resorts, swung to a loss last quarter, hit by theater closures and one-time charges.

A net loss of $19.3 million compared with a $1.8 million profit the year before. Revenue dipped 6.2% to $159 million The company cited nonrecurring expenses of $2.8 million for payroll continuation for staff impacted by the theatre closures, and impairment charges of about $8.7 million. “The first quarter was off to a very good start, with revenues and operating income up significantly through February 2020, benefiting from several new films and strong carryover holiday season films,” said Rolando Rodriguez, CEO of Marcus Theatres. “March

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