AMC Plans to Close More Theaters in Underperforming Locations
For the full year, AMC said its sales climbed 4.6% to $4.85 billion.
Photographer: Bing Guan/BloombergThe world’s largest cinema chain sees more value in shrinking than growing.
Sean Goodman, chief financial officer of AMC Entertainment Holdings Inc., told investors Tuesday there’s “a significant opportunity” to keep closing underperforming theaters. The company has the option to renew or terminate roughly 85 leases a year — about 10% of its locations.