Everyman Cinemas Stock Plummets After Disappointing Update

Everyman Cinemas Stock Plummets: Weaker Box Office Sales and Economic ChallengesEveryman Cinemas stock value dropped significantly, losing nearly a quarter of its worth, following a disappointing trading update. The company reported lower-than-expected box office sales and profits, with shares plummeting by 24% earlier this week. The UK box office revenue decreased by 9% in October and 33% in November. Everyman attributed this downturn to weaker-than-anticipated box office performance and the ongoing challenges of the current economic climate. The potential acquisition of Warner Bros. by Netflix could further complicate the future for the cinema industry. Everyman expects revenues of at least £114.5 million and profits of at least £16.8 million for the year ending January 1, but these figures are still lower than the companys previous projections.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.