Welcome to our dedicated page for Marcus news (Ticker: MCS), a resource for investors and traders seeking the latest updates and insights on Marcus stock.
The Marcus Corporation reports developments across its entertainment and hospitality businesses, with Marcus Theatres operating movie theatres under the Marcus Theatres, Movie Tavern by Marcus and BistroPlex brands and Marcus Hotels & Resorts owning and managing hotels, resorts and other properties. Company news commonly covers box-office trends, film-slate performance, food-and-beverage concepts such as Zaffiro's, Reel Sizzle, Take Five Lounges and in-auditorium dining, and hotel operating measures such as RevPAR.
Updates also include quarterly results, conference participation, annual shareholder meeting matters, division leadership changes and governance topics. The company's releases often connect theatre attendance, dining formats and hospitality demand with the performance of its company-owned real estate and managed-property portfolio.
Marcus Hotels & Resorts has appointed Chris Schaefer as the new vice president of food and beverage. Schaefer, bringing over 20 years of experience, will manage catering, banquets, and over 40 restaurants across 17 properties. His responsibilities extend to strategic planning and talent development. Previously, he was the corporate director of food and beverage at Noble House Hotels & Resorts. Michael Evans, president of Marcus Hotels, expressed excitement for Schaefer's leadership, which aims to enhance guest experiences.
The Marcus Corporation (NYSE: MCS) has promoted Steve Martin to chief human resources officer, overseeing all corporate HR functions and joining the executive management committee. Martin, with nearly 30 years of experience, has been with the company since 2000 and previously served as vice president of human resources for Marcus Hotels & Resorts. His rich background includes roles at Hyatt Hotels & Resorts and a degree in hotel management from Iowa State University. The company's leadership expresses confidence in Martin's capability to enhance its HR capabilities.
The Marcus Corporation (NYSE: MCS) reported notable recovery in the fourth quarter of fiscal 2021, achieving $169 million in revenues, a significant increase from $37 million in Q4 2020. The company marked its second consecutive quarter of profitability, posting a net income of $6.4 million and Adjusted EBITDA of $29.3 million. Full-year 2021 revenues reached $458.2 million, up from $237.7 million in 2020, with a reduced net loss of $43.3 million compared to $124.8 million the previous year. Theatres and hotels both contributed positively to the results, indicating strong market recovery.
The Marcus Corporation (NYSE: MCS) announced that Douglas A. Neis, executive vice president and CFO, will retire on May 15, 2022, after 36 years with the company. Chad Paris, currently the corporate controller and treasurer, will succeed him as CFO. Neis, who joined in 1986, has been instrumental in navigating the company through various challenges. Paris, who joined in October 2021, has experience as CFO at Jason Group, Inc. The transition aims to strengthen the company’s financial management and maintain a strong balance sheet.
The Marcus Corporation (NYSE: MCS) announced it will report its fourth quarter and full year results for fiscal 2021 on March 3, 2022, before the market opens. A conference call will follow at 10:00 a.m. Central time. Participants can access the call via the company’s website or by dialing in. A replay will be available until March 10, 2022. The company operates in the lodging and entertainment sectors, managing 1,064 screens across 85 locations in 17 states.
MetaMedia, a global cloud-based content delivery platform, has partnered with Marcus Theatres, the fourth-largest theater chain in the U.S., which operates 1,064 screens across 85 locations. This collaboration aims to leverage MetaMedia's technology to enhance operational efficiency and create new revenue streams through diverse programming, including live events. The MetaMedia Entertainment Network, powered by Microsoft Azure, will facilitate the secure and rapid delivery of entertainment content to Marcus Theatres.
The Marcus Corporation announced a joint venture with Searchlight Capital Partners to acquire the Kimpton Hotel Monaco Pittsburgh, managed by Marcus Hotels & Resorts, effective December 16, 2021. This acquisition marks a strategic expansion into the Pennsylvania market, enhancing their portfolio of lifestyle hotels and resorts. The Kimpton Hotel Monaco features 248 rooms and over 11,300 sq. ft. of event space, appealing to business and leisure travelers. The terms of the deal were not disclosed.
Marcus Theatres, a division of The Marcus Corporation (NYSE:MCS), announced record advance ticket sales for ‘Spider-Man: No Way Home’, marking the largest sales since ‘Avengers: End Game’ in 2019. Tickets, which went on sale on November 29, are expected to continue strong sales as audiences return to theaters. Notably, 72% of tickets sold in the first two days were for premium formats like UltraScreen DLX and IMAX. The excitement around the film comes as the company heads into the holiday season.
The Marcus Corporation (NYSE: MCS) reported a strong recovery in its third quarter fiscal 2021, achieving nearly $25 million in Adjusted EBITDA and positive net earnings of $1.76 million. Total revenues reached $145.86 million, a significant increase from $33.59 million in Q3 2020. Both Marcus Theatres and Marcus Hotels & Resorts outperformed their industries, with Marcus Theatres achieving positive Adjusted EBITDA for the first time since the pandemic began. The balance sheet remains solid with $197 million in cash and credit availability.
The Marcus Corporation (NYSE: MCS) has appointed Chad Paris as corporate controller and treasurer. Paris, with over 15 years of experience in finance, previously served as CFO at Jason Group, Inc., where he managed various financial functions and transactions. He holds degrees in management and finance from the University of Wisconsin – Milwaukee and is a certified public accountant. Douglas A. Neis, CFO of The Marcus Corporation, commended Paris for his depth of knowledge in financial management, which is expected to support the company's growth strategy.