Marcus reports higher earnings despite revenue drop
Marcus Corp.’s second quarter earnings increased 3.5%, despite lower revenue, due in part to lower operating costs and comparison to a year-earlier one-time charge.
The Milwaukee-based hotel and theater operator reported net income of $9.34 million, or 34 cents per share, for the period ending June 25, compared with $9.02 million, or 32 cents per share, from the year-earlier period. The company posted revenue of $135 million, a 2% drop from $137.8 million.
The year-earlier period included a $2.6 million impairment charge from the company’s hotel division.