{"id":10599,"date":"2023-08-09T19:57:22","date_gmt":"2023-08-09T19:57:22","guid":{"rendered":"https:\/\/isafespend.com\/investing\/amc-buoyed-by-its-popcorn-push-prepares-to-launch-branded-premium-gourmet-candy\/"},"modified":"2023-08-09T19:57:23","modified_gmt":"2023-08-09T19:57:23","slug":"amc-buoyed-by-its-popcorn-push-prepares-to-launch-branded-premium-gourmet-candy","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=10599","title":{"rendered":"AMC, buoyed by its popcorn push, prepares to launch branded premium gourmet candy"},"content":{"rendered":"
\n

AMC Entertainment Holdings Inc., boosted by the success of its branded popcorn sales, is planning to launch branded premium gourmet candy, according to CEO Adam Aron.<\/p>\n

The movie-theater chain and meme-stock darling reported better-than-expected second-quarter results early Tuesday. Speaking during a conference call to discuss the results after the close of markets, Aron provided an update on the company\u2019s branded popcorn push and its efforts to launch new products.<\/p>\n

\n

AMC
\n AMC,
\n -3.47%<\/bg-quote>
\n announced a partnership with Walmart\u00a0Inc.\u00a0
\n WMT,
\n +0.16%<\/bg-quote>
\n earlier this year, with the popcorn initially available at hundreds of the retail giant\u2019s stores ahead of the Academy Awards on March 12. The following month, the deal was expanded to encompass 2,600 Walmart stores.<\/p>\n

Related:\u00a0<\/strong>AMC\u2019s stock rallies after swinging to profit, boosted by highest quarterly attendance since 2019<\/p>\n

The AMC-branded ready-to-eat and microwave-at-home popcorn has been \u201cflying off the shelves\u201d at Walmart stores and from the retailer\u2019s website, Aron said during the conference call.<\/p>\n

AMC is looking to expand the popcorn partnership to other grocery chains, according to Aron, who said that it could become a $100 million-a-year revenue source for AMC.<\/p>\n

Buoyed by the success of the branded popcorn, AMC is looking to launch premium branded candy at its theaters later this year or in early 2024, Aron said. \u201cPremium AMC candies, coming to theaters, are now in the works,\u201d he said. \u201cWe believe we will be successful with the candy lines as we have been successful with the popcorn lines.\u201d<\/p>\n

Related: <\/strong>AMC could face bankruptcy risk if APE conversion battle fails and strikes drag on, analyst warns<\/p>\n

This includes chocolate candy and gummies, according to the CEO, who was sampling some of the wares during the earnings call. \u201cThese chocolate-covered pretzels are to die for,\u201d he said. Chocolate products from Hershey Co.
\n HSY,
\n +0.60%<\/bg-quote>
\n and Nestle
\n NESN,
\n +0.25%<\/bg-quote>
\n will still be sold at AMC theaters, according to Aron.<\/p>\n

In addition to discussing new revenue streams for AMC, the CEO also reiterated his recent warning that AMC faces\u00a0liquidity challenges. \u201cIn the short term, AMC has some serious liquidity issues to solve,\u201d he said, adding that the company\u2019s leadership team is \u201chighly able\u201d in liquidity management. \u201cWe have every confidence that we will continue to execute,\u201d Aron added.<\/p>\n

As of June 30, the company\u2019s cash position was $435.3 million, excluding restricted cash of $22.9 million. AMC\u2019s available liquidity was $643.4 million.<\/p>\n

Related:<\/strong> AMC set to expand its branded popcorn sales to 2,600 Walmart stores <\/p>\n

AMC\u2019s stock ended Tuesday\u2019s session down 0.6%, outpacing the S&P 500 index\u2019s
\n SPX
\n decline of 0.4%, and fell 1% in extended trading. AMC\u2019s Preferred Equity
\n APE,
\n +0.29%<\/bg-quote>
\n units ended Tuesday\u2019s session down 2.3% and rose 1.5% in extended trading.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

AMC Entertainment Holdings Inc., boosted by the success of its branded popcorn sales, is planning to launch branded premium gourmet candy, according to CEO Adam Aron. The movie-theater chain and meme-stock darling reported better-than-expected second-quarter results early Tuesday. Speaking during a conference call to discuss the results after the close of markets, Aron provided an<\/p>\n","protected":false},"author":1,"featured_media":10600,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-10599","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nAMC, buoyed by its popcorn push, prepares to launch branded premium gourmet candy | iSafeSpend<\/title>\n<meta name=\"description\" content=\"AMC Entertainment Holdings Inc., boosted by the success of its branded popcorn sales, is planning to launch branded premium gourmet candy, according to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=10599\" \/>\n<meta property=\"og:locale\" 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