Trps Why Cineplex Inc. Belongs in Your Portfolio
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Cineplex TSX:CGX released its Q1 2020 results on Monday, June 29. The company posted an adjusted net loss of $0.08 per share for the quarter, better than analysts estimate of a $0.43 loss per share. In contrast, its revenue of $283 million fell short of analysts e vaso stanley xpectations of $316 million and fell by 23% year over year. stanley drinking cup On March 16, Cineplex had to temporarily close all its theatres due to the COVID-19 outbreak-related restrictions, which affected its first-quarter results.The pandemic forced the company to lay off all its stanley thermobecher hourly staff and some of its full-time employees. Also, it reduced the salaries of other full-time employees starting from March 21. To survive during these tough times, Cineplex has taken steps, such as reducing capital expenditure, seeking rent relief from landlords, and suspension of dividends. Now, let s explore some key points from Cineplex s plans to reopen its theatres going forward.Gradual reopening and enticing cinema-goersCineplex has already reopened |
