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BUSINESS DOWN AT BRITISH THEATER CHAIN CINEWORLD

July 5, 2012 by · Leave a Comment 

The British theater chain Cineworld has issued gloomy revenue results for the first half of 2012. Citing a “challenging consumer environment,” Cineworld said that sales were down in virtually every area of operations, from ticket sales to onscreen advertising to concessions. Spending at the concession stand, it said, fell 2.1 percent versus a 4.1-percent rise a year ago. Screen advertising plunged a whopping 10.9 percent, while ticket sales were down 8 percent. The economy was only to blame. Cineworld observed that movie theaters this year were forced to compete against the Euro 2012 soccer championships and the Queen’s jubilee celebrations. It also noted that it will face even greater competition later this summer from the London Olympics.