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AMC, the worlds largest movie theater chain and a one-time darling of meme stock traders, said this week that it expects to continue closing more movie theaters than it opens going forward. While the move is sure to disappoint cinephiles, AMC believes that shuttering certain cinemas will ultimately be better for the companys bottom line. Heres what you need to know about the upcoming AMC theater closings. Whats happened? On Monday, AMC Entertainment Holdings reported its fourth-quarter 2025 financial results as well as its full-year 2025 results. Its fair to say the company did not have a blockbuster quarter or year. For the companys Q4 2025, which ended on December 31, AMC reported total revenue of $1.28 billion. Thats a drop of 1.4% from the $1.3 billion the company reported for the same quarter a year earlier. Fewer people are attending movies AMC said that both its global and international attendance figures were down. For Q4 2025, AMC’s total attendance equalled 56.3 million. Thats a drop of nearly 10% from the 62 million during the same period a year earlier. U.S. attendance was down less (about 7.5%) for the quarter than international attendance (down about 15%). However, for its full fiscal 2025, AMC did slightly better. Total full-year revenue was actually up about 4.6% to $4.84 billion. And its attendance figures, while still down across the board, didnt fall as much as it did in the forth quarter. Still, the downward trend in attendance was obviously a blow to AMC, which relies on attracting foot traffic to its theaters so it can sell tickets and high-margin concessions. Attendance problems are not unique to the company. In recent years, movie theaters worldwide have struggled with declining foot traffic. The reasons most often cited for those declines include higher ticket prices, fewer films with mass-market appeal, and increasing competition from streaming services like Netflix, which stream original feature film content right into viewers homes. Declining foot traffic can turn some theater locations into a financial burden instead of a guranteed positive revenue source, so it was little surprise when, in addition to annoucning its financials, AMC revealed that in the years ahead it is planning to close more theaters than it opens. AMC reveals it will close more theaters than it opens AMC currently has about 860 theaters across the globe, making it the largest theater chain in the world. Yet on the companys financial earnings call earlier this week, CFO Sean Goodman revealed that AMC will be closing underperforming locations in the futuresomething the chain has already been doing for some time. The CFO further revealed that since 2020, AMC had already closed 213 locations, while opening just 65 new ones during the same timeframe. Which AMC movie theaters are closing? The company did not provide a list of theaters that it plans to close, but local media outlets have reported numerous closures in their respective communities over the last year. AMC location closures in 2025 have included: An Alabama location in March A Kansas location in April A Georgia location in August Three Illinois locations in August A Colorado location in September A Buffalo, New York, location in December The ongoing reshaping of our footprint reflects our commitment to improve asset productivity, expand margins, and position AMC for sustainable long-term growth, Goodman said on the companys financial call, according to a PitchBook transcript. When asked about the companys portfolio footprint by an analyst, Goodman said that about 10% of the chains theaters come up for lease renewal each year, and those renewals give AMC the opportunity to renegotiate leases or shutter the locations. “Like most organizations or companies with a retail footprint, our theaters are a kind of normal distribution and there is a tale of underperforming or loss-making theaters,” he said. “And we see an opportunity to close those theaters or renegotiate leases and then take on new theaters that are significantly, very significantly, more profitable.” He added that investors can expect a similar pace going forward and that the company will be “closing more theaters than we open, but the new ones that we open are generating significantly more profit than the ones that we close. AMC stock price has been getting hammered Since announcing its latest quarterly results on Monday, shares of AMC Entertainment (NYSE: AMC) have been relatively flat. The stock price currently sits at around $1.16 a share in premarket trading as of the time of this writing. That’s only a fraction of what the companys shares were once worth during its heyday as a meme-stock darling in the early pandemic years. During that time, meme stock traders on Reddit poured money into buying AMC shares, driving the price to almost $650 per share in June of 2021. Todays share price of around $1.16 represents a more than 99% decline from AMCs nearly $650 high.
Category:
E-Commerce
Women’s sports continue to thrive. Record-breaking WNBA viewership, a flood of new brand investment, and now Unrivaled: the women’s basketball league built by players, for players. Commissioner Micky Lawler pulls back the curtain on what it really takes to launch a high-stakes sports startup in the full glare of the public eye. The question is no longer whether women’s sports can compete. It’s how fast they can grow. This is an abridged transcript of an interview from Rapid Response, hosted by the former editor-in-chief of Fast Company Bob Safian. From the team behind the Masters of Scalepodcast, Rapid Responsefeatures candid conversations with todays top business leaders navigating real-time challenges. Subscribe to Rapid Responsewherever you get your podcasts to ensure you never miss an episode. I first came upon Unrivaled last year around this time. I’m a basketball fan, but other 3-on-3 leagues didn’t really connect for me. But Unrivaled, it grabbed my attention right away. The format, the players, the model of playing in one location in Miami, adopting what the WNBA did during the pandemic bubble, it’s fun. You felt what I felt when I first heard about it. I loved it from the start. I could see it, I could feel it. And what’s not to like about the name, Unrivaled? And the timing for the league when it came out was great. It was just as the Caitlin Clark mania was surging, although I know Caitlin hasn’t competed on Unrivaled. But women’s leagues overall were accelerating, the WNBA, the NWSL. How much did that timing matter for you? Look, I’ve spent a lifetime working in professional sports, and in particular in tennis, most of it in women’s tennis, and so I could see the momentum. And sometimes the world has a way of working in mysterious ways, because the timing was also perfect for me, having just retired from the WTA. Were you into basketball before this? I mean, your life was obviously tennis, so that was where your time and your energy was focused. When you work in sports, it’s your microcosm, so I was very familiar with the opportunity of women’s basketball, and I always loved it. When my kids played sports, basketball was my favorite season because it’s so much fun to watch. And I did play in high school, very badly, so basketball was not entirely foreign to me, but it’s like you lived in San Francisco and now you’re moving to New York. It’s the same country, but it’s two very different cities. Does that make sense? Yeah. Part of Unrivaled’s appeal for the players is financial. WNBA salaries remain modest. Players generally have to look for other paying gigs in the off-season. It’s why Brittney Griner went to Russia. You’re offering sort of an alternative to going overseas. Your salary pool isn’t enormous, but there are other benefits, including equity. This is part of the selling point to the players is the financial opportunity, and I guess the vibe in Florida where Unrivaled happens. As a professional athlete, when you are competing six months of the year, you need to have another source of competition. Income, yes, but also competition. You need to stay sharp, you need to stay in shape, you need to keep working on your craft, on your game. So both Breanna and Napheesa are mothers, and for them it was increasingly difficult to go overseas for three months, and also for their own brand exposure in the market. So we looked at this as a way to really build the entire ecosystem of women’s basketball and support what clearly is a very interesting league, which is the WNBA. SAFIAN: Yeah. You’re separate from the WNBA, right? LAWLER: Yes. Yes. But as you say, you travel in these concentric circles with players and media partners and sponsors. How do you approach that relationship? Well, we have 54 WNBA players here in-house, so our approach is to really deepen the focus on players, getting them into the public eye. And so, we hope that this is all very, very positive and good for the environment in which the WNBA operates. So the relationship is complimentary. You’re deep into Unrivaled’s second season. The playoffs start February 28th, the end of the month. The business of the league keeps evolving. More sponsors, more facilities, more teams. You added the 1-on-1 tournament mid-season, took the league on the road to Philadelphia, and the semi-finals will be right near me at the Barclays Center in Brooklyn. This sort of business roadmap, how does it compare to your efforts growing the WTA? How much do you look at and focus on, what’s the lowest hanging fruit, what’s easiest to get versus long shot plans? At the WTA, you have a structure where owners, tournaments, and players sit on the same board. There’s a 50/50 ownership. The players, they’re not contracted by the WTA, so they are self-employed and they have their own commercial rights. So the tour has to try to elevate the whole thing with limited assets, getting to a point that perfects the pressure on the players, not overstressing them, but you also have to answer to players number one to 250. And the number one is going to play many more matches. But in any case, it’s a lot to juggle. Over here you’ve got a clean slate and you’re giving players real equity from the start. So the players were very, very fast to understand that the more Unrivaled grew, the better for them from every angle. The more that they could participate in telling brand stories, the more their own story would be relevant. So it’s completely different because you don’t have to argue about the value of social media like we did with the WTA many years ago. We need to change the media requirements from a post-match interview to giving some time to the social side. In tennis, that took a long time. Here it’s front and center. They want to be doing it. They understand the holistic side to the business, that it’s not just about being a phenomenal basketball player. You have to be good at social. You have to serve the press, serve all your fans, create an environment that is community. If I had any doubt that this was going to work, well, that was quickly gone because of the intensity of the fans and the intimacy. Sephora Arena is a place where you come to be very happy and entertained, and you see just stellar performances. The players are aware that it’s a start-up, but they’re also aware that everything goes to serve them. We are highly, highly focused on making sure that they have everything that they need. Having two player founders in Breanna and Napheesa, we know they need a glam room. They need, of course, a weight room. They need training, and a very good training room and a training team. The best childcare. Saunas. Infrared for inflammation and recovery. I can’t do it justice. I loved the 1-on-1 tournament that happened. Yeah. When you go to the players and you say, “Hey, what about doing a 1-on-1 tournament?” Are they like, “Oh, that’s great. We play 1-on-1 against each other all the time,” or are they like, ̴Oh, I don’t know. It’s more work for me”? Both. You have the players that shy away from it a little bit, but once they play, they’re all-in. And it is, again, the crowd was so into it. The men talk about it, how much they would love it, and so we did it. And these women, they leave no stone unturned. They fight. Well, that was part of what I loved about it. They looked exhausted. You could physically see they’re not dogging this. Sometimes in an all-star game, you can tell the players are a little sort of they’re in it. Totally in. Personally, in year one I thought, “Oh my gosh, this is starting to look like a tennis tournament. Is this the right place?” But it has been a big success. Players love it.
Category:
E-Commerce
Ten years ago, I ended a meeting at WeWork with an offer to grab a free beer on tap. Last week, I ended it with a similar offer, except this time the beverage on offer was kombucha. The seemingly innocuous shift is symbolic of a bigger evolution underway at the coworking giant: less coolness, more functionality. WeWork is growing up, and its newest location in downtown Manhattan is the most visible proof yet: 250 Broadway, which opened in January, is WeWork’s first outpost in the city since 2019the year WeWork abandoned its initial public offering and ousted cofounder Adam Neumann as CEO. The space adds 60,000 square feet to the company’s New York portfolio, which already exceeds 3 million square feet. And it’s yet another outpost in a global network that now spans 600 locations worldwide. Except this isn’t WeWork as you might remember it: There are no neon signs, no beer o’clock, and no ping-pong tables. Instead, the walls are hung with paintings sourced through ArtLifting, an art consultancy that works with artists living with homelessness or disabilities. The bar is stocked with kombucha and espresso machines. And the once-labyrinthine corridors you could navigate only by asking for directions are now marked with pristine wayfinding signs. This is WeWork 2.0, and its already a hit: 250 Broadway is 94% occupied across five floorsincluding one that wont open until spring. [Photo: WeWork] The rise and fall (and rise again) of WeWork WeWork’s story is by now a familiar parable of Silicon Valley excess. Founded in 2010 by Neumann and Miguel McKelvey, the company spent a decade expanding on billions from SoftBank’s Vision Funda Saudi-backed mega-fund that poured tens of billions into high-growth tech startups like WeWorkalong with a cultish faith in Neumann’s vision of community as business model. Then came the botched IPO in 2019, a belated stock market debut that failed to turn the tide, and, in November 2023, a Chapter 11 bankruptcy filing. By the time WeWork reemerged in June 2024, it had shed roughly $4 billion in debt, closed hundreds of locations, and installed global commercial real estate firm Cushman & Wakefield veteran John Santora as its new CEO. [Photo: WeWork] WeWork 2.0: From cool to functional The seeds for WeWork 2.0 were sown in 2019, but according to its chief design officer, Ebbie Wisecarver, the company hadnt reset its design values until last year. Today the goal is for WeWork locations to feel familiar and engaging. But where previous locations stuck to a recognizable WeWork brand (think: industrial loft meets Brooklyn coffee shop), new locations are designed to feel timeless rather than trendy. “WeWork’s culture and what it stands for has evolved,” Wisecarver told me during a tour of 250 Broadway. “I don’t think it’s diminished this idea of community and connection, I just think we’ve adapted in a lot of ways to providing more spaces that are more suitable for what people are doing there.” Before 2019, every location had to conform to a prescribed aesthetic, “and I think that actually restricted some locations from really being what they could be,” she said. Now the design team isn’t afraid to go slightly off-brand if the building calls for it. At 250 Broadway, the team drew from the history of Lower Manhattan itself. The iconic Woolworth Buildingvisible from nearly every office windowis echoed in the spaces stone tile floors and its art deco-style reeded glass dividers. The sconces lighting up the lounge area were sourced from Brooklyn-based lighting design studio In Common With, while much of the furniture was made by New Jersey millwork firm Bestmark. The upgrades, however, go deeper than aesthetics. Private offices, once outfitted with wooden floors that members complained amplified noise, are now carpeted. The mothers’ roomhistorically a corporate afterthoughthas been given a window with a view of Manhattan. Even the phone booths, supplied by office design company Room, have been rethought and positioned in clusters near lounge areas rather than scattered across the floor. According to Wisecarver, that was a direct response to members asking for quiet spaces adjacent to communal ones. [Photo: WeWork] A flexible workspace for the post-COVID era The 250 Broadway location came about in part by necessity: WeWork’s lease next door, at 222 Broadway, was expiring as the building converted to residential. But the timing of what WeWork has built there speaks to something bigger than a single office move. Since the pandemic, the way we work has fundamentally changedperhaps permanently. The old WeWork, with its beer taps and open-plan optimism, was a result of working styles before COVID-19. Now hybrid schedules have made flexibility a basline expectation rather than a perk. Workers want spaces that are quiet when they need focus and communal when they need connectionsometimes within the same hour. WeWork’s new design strategy is a response to that shift. Today WeWork’s numbers suggest the office isn’t as dead as some proclaimed it would be. Across New York City, WeWork’s occupancy sits at 82%, with Midtown running at 90%. Globally, the company has climbed from 70% to 77% occupancy and is targeting 80% this year. Several markets are already well past that threshold: Dublin’s One Central Plaza is at 100%, Barcelona and Milan are both north of 90%, and Toronto has jumped from 73% to 85%. (San Francisco sits at 76%, up from 64%). The problem is, while WeWork once revolutionized coworking, competition has never been stiffer. Industrious, acquired by CBRE for $400 million in early 2025, has built a premium alternative that competes directly for enterprise clients. IWG, the parent company of Regus and Spaces, has long been profitable where WeWork was not. And in WeWork’s own backyard in New York City’s financial district, WSA has bet that blending coworking with arts programming and cultural events is the next frontier of flexible work. Which may be exactly why 250 Broadway feels more like a thesis statement. This summer, WeWork is opening a new location at 245 Fifth Avenue in Manhattan’s NoMad neighborhood. A new floor is being added to its 1 University Avenue location in Toronto. Upgraded offices are also coming to 1201 Wilson in Washington, D.C. Underpinning all of it is a commitment to reinvest roughly $80 million annually in modernizing its portfolioa figure the company spent in 2025 and is repeating again in 2026. Only time will tell if the thesis will prove out across these future locations.
Category:
E-Commerce
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