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        <title><![CDATA[Cinemark planning to reopen theaters on scant ‘test and learn’ data]]></title>
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            <media:title type="html">Cinemark planning to reopen theaters on scant ‘test and learn’ data</media:title>
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        <content:encoded><![CDATA[<p>After multiple postponements, movie theater chain Cinemark said it&#8217;s ready to reopen, citing &#8220;high satisfaction&#8221; with its COVID-19 protections among theatergoers in Texas.</p><p>In an earnings conference call on Tuesday, Cinemark Chief Executive Mark Zoradi said the Plano, Texas, company aims to start selling tickets at all of its 345 US-based theaters by August 31, thanks in part to the positive feedback its garnered from a handful of &#8220;test and learn&#8221; theaters it&#8217;s reopened in recent weeks.</p><p>The theater chain plans to begin the phased reopening process on August 21 &#8212; in time for the release of Warner Bros.&#8217; spy thriller &#8220;Tenet&#8221;&nbsp; to&nbsp;<strong>hit theaters on Sept. 3</strong>.</p><p>In gearing up to reopen, Cinemark operated 15 &#8220;test and learn&#8221; movie houses across the country during the second quarter to experiment with its protocols to protect against the spread of COVID-19, including spaced seating, mandatory mask wearing and frequent theater cleaning.</p><p>&#8220;97 percent of guests surveyed have expressed high satisfaction with how Cinemark is protecting their health and safety,&#8221; Zoradi said in the second-quarter earnings call.</p><p>But the test data cited on Tuesday only applied to five of its 15 test theaters located in the Dallas-Fort Worth area. The company declined to explain why it didn&#8217;t cite data from all 15 test locations. &#8220;We do not disclose the details of our proprietary research,&#8221; the rep told The Post.</p><p>The theater chain has taken a <strong>massive hit</strong> from the pandemic, which shuttered all of its movie houses in March. Numerous efforts to reopen this summer have been postponed as the virus continued to spike in states like&nbsp;Florida and California.</p><p>During the quarter ended in June, the chain swung to a loss of $170.4 million, or $1.45 a share, compared with income of $101.0 million or 86 cents a share during last year&#8217;s second quarter.</p><p>The loss included $19.5 million in charges for the permanent <strong>reduction in headcount and theater closures</strong>. Meanwhile, sales plummeted 99 percent to $9 million from $957.8 million a year earlier.</p><p>The results beat Wall Street&#8217;s expectations, however, for a net-per-share loss of $1.59 on sales of $5.4 million, sending the stock up 3.7 percent in midday trading to $12.30 a share.</p><p>During this period, roughly 13,000 customers bought tickets for the screening of older movies at the Texas-based movie houses, Zoradi said. Those screenings generated $37,000 in admissions revenue and $57,000 in concessions.</p><p>The CEO said most theaters will reopen at state-mandated 50-percent capacity, with some theaters located in higher-risk states opening at just 25-percent seating capacity.</p><p>Even though that will limit revenues, Zoradi insisted Cinemark, which has little debt on its books, &#8220;can still be profitable at these rates.&#8221;</p>]]></content:encoded>
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