Retailers see staffing challenges as omicron rages, gross sales taking a success

A sign saying “Now Hiring” is posted in an Urban Outfitters store in San Francisco.

David Paul Morris | Bloomberg | Getty Images

Retail executives presenting at the ICR virtual conference this week explain how the highly contagious Omicron variant drives sales and leaves stores and distribution centers understaffed.

But investors seem to be shrugging the bad news as they see it as a short-term challenge. For many retailers, the silver lining is that consumer demand appears to be well intact.

Lululemon said sales will be in the November-January quarter are at the lower end of their previous expectations because working hours had to be reduced at some locations due to a lack of labor. Lands’ End said it had been a difficult time hiring. Abercrombie & Fitch lowers its sales estimate for the fourth quarter because it didn’t have enough goods in stock to meet consumer demand. While Urban Outfitters said shoppers’ visits to its stores had not increased as planned in December, and were instead purchased on its websites.

Still, Abercrombie shares rose nearly 8% on Tuesday lunchtime, while its rival American Eagle Outfitter increased by about 3%. Urban Outfitters ‘stock rose nearly 2% and Lands’ End rose a little over 2%.

And these are just a few examples of how the recent surge in Covid cases in the US is sure to continue to rock the retail sector in the coming weeks. On Monday, around 1.5 million new cases of Covid-19 have been reported, according to data from Johns Hopkins University, bringing the seven-day average of new cases to 754,000 daily. While many vaccinated people infected with the virus say symptoms are mild, hospital admissions are on the rise, especially for those who get sick and are not fully vaccinated.

While these retailers may be weeks away from releasing full Christmas quarter results, the revised forecasts and comments provide analysts and investors with a preview of what’s to come. Companies from Lululemon to American Eagle are also shedding light on how to deal with the effects of omicron.

Work overtime

Lands’ End chief financial officer Jim Gooch said Tuesday that some employees had been working overtime in the past few weeks.

“We know that the work will be a big problem. … We hope this will normalize in the future, but this year has been a challenge,” he said during an ICR presentation. “And that’s why the teams are doing what they can to try to come out on top this year.”

Abercrombie & Fitch said Tuesday it was able to drag workers from one of its brands into stores of another brand in order to keep the doors open when workers call in sick. The company also owns Hollister and Gilly Hicks.

“In a mall where we have multiple brands and we have a staffing problem because we have a store that might come into contact with Covid, we can borrow staff from the other stores and that has helped us tremendously,” said Abercrombie Chief Executive Fran Horowitz, during an ICR presentation.

As a result, Horowitz said, Abercrombie has not had to close any stores entirely due to Covid outbreaks. However, it has temporarily reduced opening hours in some locations, she said. That’s an approach that companies take off Macys to gap to Nike also recently took.

“A little déjà vu”

“The first day of ICR 2022 was a little déjà-vu where we all sat in front of our computers and went from meeting to meeting with one click,” said Dana Telsey, CEO and Chief Research Officer at Telsey Advisory Group.

“Unfortunately, the Omicron variant of Covid-19 appears to have the negative impact we all feared on sales and staffing levels in January,” she said in a statement to customers.

Urban Outfitters reported Tuesday that sales for the two-month period ended December 31st were up 14.6% compared to 2019. Digital sales grew double-digit during this period, while in-store sales declined a low double-digit percentage on a two-year basis, the company said.

“We believe omicron affects our store sales … It’s hard to say how much,” said CFO Melanie Marein-Efron during an ICR presentation. “As soon as your stores start restricting their hours of operation, you are clearly limiting the ability of consumers to get into your store.”

American Eagle, which also owns lingerie brand Aerie, predicts fourth-quarter sales will increase a medium-to-high percentage of teenagers year over year. According to refinitive data, this is less than the 21.5% increase forecast by analysts.

However, American Eagle raised its expectations for sales in 2023 from $ 5.5 billion to $ 5.8 billion, suggesting the effects of Covid will be temporary.

“We think it will be short-term if there is any impact, and more isolated in January … maybe into February,” said Mike Mathias, CFO of American Eagle, when asked about omicron. “We share resources as needed between tips in specific stores.”

Elon Musk’s inventory gross sales might complete $18 billion by the top of 12 months

SpaceX owner and Tesla CEO Elon Musk will arrive on the red carpet for the Axel Springer Award 2020 in Berlin on December 1st, 2020.

Britta Pedersen | Getty Images

Elon Musks Sales of $ 906 million in Tesla stock Monday brings him one step closer to his ultimate sales goal. The big question: what is the goal?

Based on his November Twitter poll, musk plans to sell 10% of all of its Tesla shares. At the time he owned a little over 170 million shares, so theoretically he plans to sell about 17 million shares for his Twitter promise.

As of Tuesday morning, he had sold a total of 11.9 million shares, according to InsiderScore / Verity. Sales are spread across a staggering 680 sales for a total of approximately $ 12.7 billion. Based on his 10% target, he would likely sell another 5 million shares – which would be more than $ 4.8 billion at Monday’s closing price of around $ 966.

In the end, however, it could be more. Musk makes two types of stock sales – one to pay tax on its compensation package and the other for direct payouts or “to-pocket” sales.

The main reason for selling Musk is to pay the taxes on the exercise of options that expire next summer. As part of a 2012 compensation package, Tesla’s CEO received options on 22.8 million shares that expire next August. The options were valued at more than $ 28 billion when Musk began selling stocks his tax burden would have been as high as $ 15 billion.

The stock has fallen over 20% since then, along with its tax bill. According to InsiderScore / Verity, Musk sold 6.5 million shares to cover taxes on approximately 15 million options. To exercise all of his options – which is likely since their expiry leaves billions on the table – Musk will likely exercise another 7.8 million options and sell an equivalent of $ 4 billion or more to pay taxes.

From a tax perspective, he’s likely to have four or five block sales of 934,000 shares (the amount sold on each of the most recent tax-related sales) before he’s done for the year.

The big unknown is how many additional shares he could sell for cash or “to-pocket” proceeds. So far, he has sold around 5.4 million shares for cash, regardless of whether he exercises options or taxes. If all of his sales are tax-related from now on, he only has $ 4 billion more to sell. However, if he continues to sell for cash – to fund Space-X or other businesses – the number could rise.

Based on his goal of 10%, Musk will likely only sell an additional $ 5 billion before the end of the year. However, if he has other cash plans or needs, sales could go up even further.

Ford’s U.S. gross sales continued to get better from chip scarcity in October

Bronco SUVs in production at the Ford Michigan plant, June 14, 2021.

Michael Wayland | CNBC

DETROIT – Ford engine US vehicle sales showed positive signs of recovery from a persistent shortage of semiconductor chips that devastated the global auto industry this year.

The Detroit-based automaker reported sales of 175,918 new vehicles in October on Wednesday, a 4% year-over-year decline but a far smaller loss than in previous months. The sales are Ford’s best since April and the first time since May that the company hasn’t reported a double digital monthly loss compared to 2020.

“In June of this year, Ford retail sales grew 10.7%. With limited inventory and record turnaround rates in the second quarter, we worked closely with our dealers to collect retail orders that were up 16x year over year, ”said Andrew Frick, Ford vice president of sales in the US and Canada .

On another positive note, Ford said vehicle inventories did that were at record lows due to the shortage of chips increased by 7,000 units compared to the previous month to 243,000 cars and trucks.

Ford’s sales outperformed the industry last month, according to Cox Automotive. The auto research firm estimated on Wednesday that new car sales in the US were down about 21% compared to October 2020. That’s better than Cox’s original forecast of a 30% decline.

“The market is still experiencing very low inventory levels and correspondingly low incentives, but the worst is probably behind us,” Cox said in a press release.

Ford is one of a handful of automakers that report new vehicle sales every month. Others like General Motors and Stellantis (formerly Fiat Chrysler) only report quarterly sales.

Ford’s October sales come a week after the business Wall Street earnings expectations nearly doubled for the third quarter and increased its adjusted earnings guidance for the full year from $ 9-10 billion to $ 10.5-11.5 billion.

However, Ford is not yet clear about its semiconductor chip offering. CFO John Lawler said last week the company expects the chip shortage to continue into next year and possibly to a far lesser extent into 2023.

According to Lawler, Ford expects wholesale vehicle volume to grow 10% in 2022 compared to this year as semiconductor shortages continue to affect business.

Market Tendencies: Flathead Dwelling Gross sales by Metropolis and Fashion

Which single-family house styles sell the most, how quickly from listing to contract (median), for how much per square meter (median)? See diagram (I filtered out some columns like A-Frame, Cabin and others – as they were full of outliers). Let’s compare September 30th with the previous October 1st for 2021, 2020 and 2019. Ranch and 1.5-2 story styles sell in the largest quantities. Single-story and round timber often sell best per square meter.

© Copyright 2021 by Richard Garrett Dews. All rights reserved. Research is based in part on information from Montana Regional MLS, LLC

Richard Dews is CEO of Glacier Flathead Real Estate, a Flathead-based real estate software and services company.

October finest month for field workplace ticket gross sales in 2021

Tom Hardy stars in Sony’s “Venom: Let There Be Carnage”.


Don’t count the box office at home just yet.

A combination of new movie releases, many of which have only appeared in theaters, coupled with growing consumer confidence to return to theaters amid the coronavirus pandemic, resulted in October 2021 being the top-grossing month for ticket sales to date.

It’s estimated that moviegoers spent around $ 637.9 million on tickets in the past 31 days venturing into theaters to watch “No Time to Die,” “Venom: Let There Be Carnage,” ” Halloween Kills “and” Dune “to see.

“While this is likely an anomaly that may never repeat itself, the 10th month of the year has now shown that it can indeed make great homes for blockbusters of all sizes and genres,” said Paul Dergarabedian, senior media analyst at Comscore.

Many of the films released during the month were slated to open earlier this year but have been postponed due to the ongoing pandemic. This resulted in October revenue exceeding July. which previously held the record for the top-selling month in 2021 with $ 583.6 million in ticket sales, according to data from Comscore.

As of Sunday, the domestic box office hit $ 3.1 billion in the first 10 months of the year, 45% more than in 2020 over the same period and 66% behind 2019.

“The industry circled this October on the calendar as a major marker of recovery from the cinema pandemic, and it has made great strides,” said Shawn Robbins, chief analyst at

While the summer months are usually the top-selling months of the year for the domestic box office, October has increased significantly in recent years thanks to blockbuster titles such as “Joker” in 2019 and “Venom” in 2018.

In 2019, October secured $ 789.5 million ticket sales, the second highest amount for the month after $ 832.1 million in 2018. October 2021 had higher loot than the same period in 2017.

Cinemark said on Sunday that October was the company’s busiest month in terms of sales in the Covid-19 era. The monthly results were more than double the earnings of May 2021.

“I am delighted that we have reached a new milestone in the industry’s recovery and are delivering our best monthly box office performance since our theaters reopened,” said Mark Zoradi, CEO of Cinemark, in a statement. “Congratulations to our studio partners for creating must-see content on the big screen that has something for everyone.”

In November and December, cinemas will benefit from the release of a number of films that have previously been postponed. “Eternals”, “Ghostbusters: Afterlife” and “Encanto” should appear in November, “West Side Story”, “Spider-Man: No Way Home” and “Matrix Resurrections” in December.

“We’ve had several of those stress-testing periods throughout the year, and more are to come during the vacation and winter,” said Robbins of “Immunization for young children remains vital in the long run. But all in all, theater owners and studios should be very encouraged by the number of recent box office hits and what they signal for the new year ahead.”

Disclosure: Comcast owns NBCUniversal and CNBC. Universal published “No Time To Die” internationally and is the global distributor of “Halloween Kills”.

Will cash from inventory gross sales damage Social Safety and Medicare?

Q. If you trade stocks and have capital gains or sometimes losses after you retire and only one spouse trades, how does this affect your social security and health insurance costs? We collect our taxes together.

– dealers

A. We are happy that you ask.

Let’s start with social security.

If you’re already retired and on social security benefits, the amount of other unearned income doesn’t affect social security benefits, said Brian Scheiss, certified financial planner at Modera Wealth Management in Westwood.

In other words, there is no other threshold undeserved income reduced social security benefits in retirement, he said.

But a couple combined income Can affect how much of the service is taxed.

Couples filing joint tax returns will pay taxes on up to 85% of their combined social security benefits if their joint income is over $ 44,000 in 2021, Scheiss said.

If their combined income is between $ 32,000 and $ 44,000, only 50% of their benefits will be taxed, he said, while if their combined income is less than $ 32,000, none of their benefits will be taxed.

The combined income is your adjusted gross income plus tax-free interest plus half of your total social security benefits, he said.

Bonuses for Medicare Parts B and D increase due to the higher income, said Scheiss.

The premiums increase in certain stages if the modified adjusted gross income (MAGI) exceeds certain thresholds. The higher premiums are known as the earnings-based monthly adjusted amount.

However, he said these thresholds will be based on combined income and both spouses’ Medicare premiums will be affected.

“Income from capital gains and other sources can have an impact Health insurance premiums, but it doesn’t matter whether one or both spouses are trading, ”he said.

Send your questions by email to

Karin Price Müller writes the Bamboo led Column for NJ Advance Media and is the founder of Follow NJMoneyHelp on Twitter @NJMoneyHelp. Find NJMoneyHelp on Facebook. Sign up for‘S weekly e-newsletter.

17-year-old Korean CEO on making $1 million in gross sales

At the age of just 17, Sukone Hong realized his entrepreneurial dream by building two companies at the same time.

The first, a South Korean fashion brand of which he is the CEO, made over $ 1 million in sales this year and gained Harvard University recognition. The second, a Braille smartwatch for the visually impaired, has thousands of pre-orders.

It’s one way of getting the tyrants back.

“It was hard for me to get engaged to school. I was kind of bullied. I had to find something that could change my life,” said Hong CNBC does it.

Build a brand

Teen Hong started his entrepreneurial journey four years ago when he was in eighth grade.

Struggling to find his way around his school in Seoul with his classmates, he sought distraction by reselling branded clothing on a South Korean search engine Naver.

But with only $ 150 in his pocket, which quickly “flew away”, he realized that he had to change his tactics.

There were around 15 orders on Monday morning. Fifty at lunch. Eighty in the evening. I sold 300 shirts this week.

Sukone Hong

Founder and CEO, Olaga Studios

Hong needed a unique selling proposition. With a $ 5,000 loan from his grandparents and support from a printing company, he set out to create his own apparel website offering unisex casual wear with simple, playful designs.

In order to, Olaga Studios – Korean for “to rise” – was born.

“Nothing happened for a week,” said Hong. “Then on Monday morning it was about 15 orders. Fifty at lunch. Eighty in the evening. I sold 300 shirts that week.”

Learning to give back

The three-year-old brand has since grown to be a regional success, generating annual sales of $ 1.2 million in six Asian markets and ranking # 1 in Style shares T-shirt category.

This has enabled Hong to hire a team of 12 to help run the website. But it also enabled him to repay his parents’ tuition at the American International School in Seoul, to which he has moved.

It was there that he found inspiration for his newest company, which he believes is his true calling.

I thought business was all about making a lot of money. But after changing school I had a good education.

Sukone Hong

Founder and CEO, Olaga Studios

“I used to think that business is all about making a lot of money,” said Hong. “But after I changed school I had a good education.”

“My teacher said my experience could be used to start a business to help others,” he added.

With Paradox Computers, the company behind his Braille smartwatch, he wants to achieve just that.

Find support for investors

Braille smartwatches – which enable the visually impaired to receive real-time information such as texts and messages from their phone – have been in the market for several years.

But the exorbitant cost of such products – usually more than $ 300 – can make them inaccessible to many disabled people.

After working on a school project on disability, Hong realized the inequality and decided that there had to be another, more affordable option.

The Braille Smartwatches from Paradox Computers show the time and date by vibrating haptics for the visually impaired.

Paradoxical computers

“I thought it was so unfair,” he said. “And at the same time, it’s a good opportunity for business.”

So he set out to understand the market, talking to visually impaired people to learn about their needs, and engineers to come up with solutions.

Hong then raised a book of contacts from his existing fashion business to support his vision with a $ 300,000 investment for a 30% stake.

I learned that I could hire all of these people even though I don’t have a background in technology.

Sukone Hong

Founder and CEO, Olaga Studios

“My background as CEO has helped me,” he said. “I’ve learned that I can hire all of these people even though I don’t have a technical background.”

Six months later, Paradox Computers’ $ 80 Braille smartwatch has sold in the hundreds, with a pre-order of 3,000 from China currently in the works. But despite his success, Hong said he was still determined to keep up with his studies.

“When the business was growing fast, I thought about dropping out of school. But I met a lot of CEOs and they all told me to go to college,” he said.

And who knows, being a guest speaker and mentor at Harvard and Stanford can be worth the effort.

Do not miss: 32-year-old founders of a multi-million dollar app share their # 1 tip for starting a business

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With Hamilton, Disney, Depraved ticket gross sales gradual, Broadway is not again

Hamilton im Richard Rodgers Theatre in der Nähe des Times Square bleibt nach den am 15. Januar 2021 in New York City verhängten Beschränkungen zur Verlangsamung der Ausbreitung des Coronavirus geschlossen.

Cindy Ord | Getty Images

In eine Broadway-Show zu investieren ist ein riskantes Unterfangen: Nur eine von fünf Produktionen amortisiert ihre Investition. Aber die 20% der lukrativen Produktionen – wie „Hamilton“ – ziehen oft ein massive Einnahmen für ihre Anleger.

Aber das war vor Covid.

Da die New Yorker Theaterindustrie seit über einem Jahr geschlossen ist und die Theaterbesucher zögern, in überfüllte Innenräume inmitten einer deutliche Steigerung bei Covid-Fällen im Zusammenhang mit der Delta-Variante haben die Hersteller Grund zur Sorge. Der Ticketverkauf boomt nicht wieder.

Am 14. September werden drei hochprofitable Mega-Musicals: „Hamilton“, „Wicked“ und „The Lion King“ zu den ersten Broadway-Musicals mit 100-prozentiger Auslastung gehören. Obwohl Tickets seit Monaten im Verkauf sind, weder “Böse” Noch “Der König der Löwen” – die beiden umsatzstärksten Musicals der Geschichte – ausverkauft in der ersten Aufführungswoche. “Hamilton”, das historisch gesehen monatelang innerhalb von Minuten ausverkauft war, hat auch in der Eröffnungswoche reichlich Verfügbarkeit. Zwischen dem 14. September 2021 und Juni 5, 2022, nur eine Aufführung von “Hamilton” ist ausverkauft.

“Wicked”-Produzenten lehnten eine Stellungnahme ab. Die Produzenten von “Hamilton” reagierten nicht auf Anfragen nach Kommentaren.

John Kenrick, ein amerikanischer Theaterhistoriker, Texter und Theaterproduzent, der an mehreren Broadway-Musicalproduktionen mitgewirkt hat, darunter die Wiederaufnahme von “Grease” und “Rent” von 1994, sagt, dass Broadway-Produzenten großen Grund zur Besorgnis haben. “Jede Produktion, unabhängig von ihrer Größe, steht vor der Frage von Leben und Tod”, sagte er.

Sowohl am Broadway als auch außerhalb führen die Produzenten von Live-Events die schleppenden Ticketverkäufe auf die durch die Delta-Variante verursachte Branchenvolatilität zurück. Michael Rosenberg, Geschäftsführer des McCarter Theatre, einem großen Regionaltheater in Princeton, NJ. und ehemaliger Geschäftsführer des La Jolla Playhouse in Kalifornien, sagte, es sei zu erwarten, dass die Theaterbesucher zögern werden, aber das ist kein Grund, die Show zu stoppen.

“Wenn Shows wiedereröffnet werden, treffen die Leute ihre Kaufentscheidungen viel näher am Aufführungsdatum, als wir es gewohnt sind”, sagte Rosenberg. “Die Leute werden etwas vorsichtiger sein, wenn es um [buying tickets] acht Wochen, neun Wochen, zehn Wochen aus.”

Die Pandemie hat schon gezwungen Fünf Broadway-Produktionen schließen und verschoben die Eröffnungstermine von sieben anderen Produktionen – von denen viele Schicksale unbekannt sind.

Sollte der Broadway seine Chance ergreifen?

Während die Wiedereröffnung des Broadways vor zwei Monaten auf sicherere Füße gewirkt haben mag, stellt der Anstieg der Covid-Fälle aufgrund der hoch übertragbaren Delta-Variante die Entscheidung zur Wiedereröffnung im September in Frage.

“Die Theaterbesucher wählen mit ihren Dollars”, sagte Kenrick. “Wenn Sie das überstürzen, wird es Sie viel mehr kosten, als wenn Sie es langsam und stetig angehen.”

Während die Broadway League bekannt gab Maße am 30. Juli, um die Ausbreitung von Covid zu verhindern – etwa Masken- und Impfpflicht für alle Broadway-Theater – bleibt Kenrick skeptisch.

Als Zeichen der Unsicherheit gab die Broadway League dies bekannt werden für die Saison 2021/22 keine Kinokassen-Einnahmen ausgeben, eine Entscheidung basierte auf Faktoren wie der gestaffelten Einführung von wiederkehrenden und neuen Produktionen und erwarteten Schwankungen in den Aufführungsplänen.

Londons äquivalentes Wiedereröffnungsexperiment weckt kein Vertrauen.

Am 19. Juli versuchte das Londoner West End wieder zu öffnen, als die Kapazitätsbeschränkungen aufgehoben wurden. Andrew Lloyd Webbers 8,1 Millionen US-Dollar Produktion von “Aschenputtel“ sagte seine Premiere am Abend ab, nachdem ein Darsteller positiv auf Covid getestet worden war. Lloyd Webber unterbrach die Aufführungen am 19. Juli auf unbestimmte Zeit und kündigte am 23. Juli an, dass die Produktion am 18. August eröffnet würde Der TelegraphLloyd Webber erklärte: “Wer weiß, wann wir hier öffnen? 2084?”

Andrew Lloyd Webber reagierte über seine Firma nicht auf eine Bitte um Stellungnahme.

Andere Produktionen in London, darunter “Hairspray”, “Romeo & Julia”, “Bach and Sons” und “The Prince of Egypt”, sagten Auftritte wegen bestätigter oder vermuteter Covid-Fälle ab. Das Londoner Kolosseum, wo “Hairspray” derzeit auftritt, “ermutigt” lediglich zu Gesichtsbedeckungen und erfordert keine Impfung der Kunden. London hat mehrere Theaterorganisationen, aber keine setzt Covid-Richtlinien wie die Broadway League durch, die hauptsächlich auf „jüngste Richtlinien der Regierung“ verweisen.

Kenrick glaubt, dass eine erfolgreiche Wiedereröffnung nur erfolgen kann, wenn die Produzenten warten, bis die Pandemie unter Kontrolle ist. Ansonsten erleidet der Broadway das gleiche Schicksal wie London: Die Produktionen werden wochenlang geschlossen, um dann für einige Tage zu öffnen, bevor sie wieder schließen. Die finanziellen Folgen dieser Strategie sind potenziell enorm.

“Covid funktioniert nicht in unserem Kalender”, sagte er. “Unsere finanziellen Bedürfnisse sind uns egal. Bis alle vernünftiger sind, werden wir einen Preis dafür zahlen.”

Ein Mann trägt eine Maske, um die Ausbreitung der Coronavirus-Krankheit (COVID-19) zu verhindern, während er durch das Theaterviertel am Times Square geht, da die hoch übertragbare Delta-Variante in New York City, USA, Juli zu einem Anstieg der Infektionen geführt hat 30, 2021.

Eduardo Munoz | Reuters

Matt Ross, ein Produzent des Broadway-Stücks “Pass Over”, das letzte Woche für die Vorschau auf volle Kapazität geöffnet wurde, sagt, der Broadway sollte die Wiedereröffnung nicht verschieben. Die Show hat eine begrenzte Laufzeit von neun Wochen, und der Produzent sagte CNBC, dass sie sich „gut verkauft“, obwohl sie nicht ausverkauft ist – aber es ist eher eine neue dramatische Produktion als ein Mega-Hit-Musical. In einem Theater mit rund 1.200 Plätzen standen für eine aktuelle Aufführung etwas mehr als 100 Plätze zur Verfügung. Es ist die zweite Produktion am Broadway seit der Covid-19-Pandemie.

„Die Denkweise ‚Lass uns einfach warten, bis alles vorbei ist‘, haben wir jetzt gelernt, dass das falsch ist“, sagte Ross. “So lebt man nicht mit einem Virus, mit einer Pandemie, mit einer Infektionskrankheit.”

Pass Over in der Tat, das Eröffnungsdatum verschoben, mit Ross kürzlich Playbill sagte: “Wir haben unseren Zeitplan mit mehr Zeit erstellt, als wir brauchen würden, da wir wussten, dass es eine reale Möglichkeit gibt, dass wir Proben oder Vorschauen verschieben müssen.”

Während der regionale Theatermanager Rosenberg eine Wiedereröffnung im September befürwortet, hat er Bedenken hinsichtlich der volatilen Start-Wieder-Stopp-Situation in London.

“[This model] kann auf Dauer nicht nachhaltig sein. Es ist ein enormer Aufwand, diese Shows wieder zu starten”, sagte Rosenberg. “Die Sache mit dem Starten und erneuten Stoppen wird wirklich problematisch, wenn das auch hier passiert.”

Ross engagierte sogar einen Epidemiologen für die Produktion, um ein solches Ereignis zu verhindern. Der Epidemiologe half dem Team, einen Plan zu entwickeln, um das Publikum und die Besetzung sicher zu halten, um das Risiko zu minimieren, dass Aufführungen abgesagt oder pausiert werden müssen. Die Produktion hat ein intensives Testprotokoll, mehr als viermal pro Woche, ein vollständig geimpftes Unternehmen, Kontaktverfolgung, Backup-Testoptionen und der Epidemiologe “führt sie durch diese Situationen”, sagte Ross. “Wir versuchen auf jeden Fall, diesen Stopp wieder zu vermeiden, Modell von vorne beginnen.”

Der größte Star am Broadway sind Touristen

Ein großer Faktor für die Fähigkeit des Broadways, finanziell erfolgreich zu sein, bleibt jedoch eine wichtige Wildcard: Touristen. Mit Touristen Das Showgeschäft, das 70 % des Broadway-Ticketverkaufs ausmacht, ist in Schwierigkeiten. Laut Büro des New York State Comptroller, sank der Tourismus in New York City von 66,6 Millionen Besuchern im Jahr 2019 auf 22,3 Millionen Besucher im Jahr 2020: ein Rückgang um 67 %. Das Büro rechnet für 2021 mit 36,1 Millionen Besuchern. Um dem erheblichen Rückgang der Touristen entgegenzuwirken, kündigte Bürgermeister Bill de Blasio eine Werbekampagne in Höhe von 30 Millionen US-Dollar an, die aus Bundeshilfsmitteln finanziert wird.

Rosenberg äußerte sich besorgt über die Rückkehr des bevölkerungsreichsten Publikums am Broadway.

“Es gibt einen großen Teil des Broadway-Publikums, das ein Tourismuspublikum ist”, sagte er. “Ich denke, dieses Touristenpublikum wird etwas länger brauchen, um zurückzukommen.”

Auch aus diesem Grund glaubt Kenrick, dass der Broadway warten sollte, bis die gesamte Tourismusindustrie und Downtown Manhattan wiederbelebt sind.

“Die Theaterbranche unterstützt über 96.000 Arbeitsplätze in Manhattan. Die Leute, die an bestimmten Shows arbeiten, machen nur einen Bruchteil dieser Summe aus”, sagte Kenrick. “Die Mehrheit sind Hotelangestellte, Restaurantarbeiter, Ladenleute, all die Leute, deren Job sich um die Präsenz des Theaters in New York dreht.”

Er glaubt, dass kleine, kostengünstige und unabhängig produzierte Produktionen die ersten sein werden, die ein gesundes Comeback erleben werden. Unternehmen, wie z Disney, die groß angelegte, millionenschwere Musicals produzieren, könnten in andere Richtungen blicken.

Was früher riskant war, ist jetzt riskanter, selbst für Disney.

John Kennick, Theaterproduzent und Historiker

Zum Beispiel Disneys neueste Produktion, die 30 Millionen US-Dollar.Gefroren,” brachte 155 Millionen US-Dollar ein (im Vergleich zu über 1,6 Milliarden US-Dollar Bruttoumsatz für “Der König der Löwen” und über 460 Millionen US-Dollar Bruttoumsatz für “Aladdin“). Während “Frozen” nur 851 Vorstellungen hatte, laufen Disneys Mega-Musical-Hits seit 22 bzw. 6 Jahren. Während “Frozen” auf dem Animationsfilm mit den zweithöchsten Einnahmen aller Zeiten, noch bevor Covid traf, entsprach es nicht den Erwartungen.

“Was früher riskant war, ist jetzt riskanter, selbst für Disney”, sagte Kenrick, zumal ihre Zielgruppe junge Kinder sind, von denen viele derzeit nicht in der Lage sind, den Impfstoff zu bekommen.

Disney Theatricals lehnte eine Stellungnahme ab.

Die Entscheidung der Broadway League, Impfungen vorzuschreiben, sei der richtige Schritt gewesen, sagte Rosenberg, aber er vermutet, dass dies Auswirkungen auf Produktionen haben könnte, die ein jüngeres Publikum ansprechen.

“Ich denke, es könnte für einige Shows schwierig sein, die ein jüngeres Publikum haben, das jünger als 12 Jahre ist, da es derzeit nicht geimpft werden kann”, sagte er.

Kenrick sagt, Disney müsse sich Gedanken machen, um die Vitalität seiner aktuellen Broadway-Eigenschaften zu erhalten. Sollte Disney eine neue Produktion eröffnen, wäre das Unternehmen seiner Meinung nach mit einer Wiederbelebung besser dran – Produktionen mit nachgewiesener Erfolgsbilanz und hoher Rentabilität.

„Das Zurückbringen von „Mary Poppins“ oder „Die Schöne und das Biest“ wird sich als [Disney] ob der Broadway immer noch eine neue Investition in neue Produktionen wert ist oder nicht”, sagte Kenrick.

Live-Theater auf Film und Streaming übertragen

Während der Pandemie debütierte Disney die gefilmte Version von “Hamilton”, die auf Disney+ gestreamt wurde, obwohl die Theaterindustrie sich weitgehend davor gescheut hat, Produktionen aus Profitgründen zu filmen und zu verteilen (einige Produktionen wurden für Bildungszwecke gedreht, aber unzählige Produktionen wurden nicht aufgezeichnet). .

Das Online-Publikum sei “ein riesiges Publikum, das das Theater viel zu lange ignoriert hat”, sagte Kenrick. “Es wäre völlig töricht, wenn die Leute das nicht ausnutzen würden.” Er fügte hinzu: “Sie können die Leute weiterhin illegal damit machen lassen und illegal davon profitieren. Oder Sie können es zu einem Teil des Pakets machen.”

Laut Ross ist Streaming ein Teil der Zukunft der Theaterbranche. “Da ist Geld zu verdienen”, sagte er, und das Angebot von aufgezeichneten Produktionen wird die Branche stärken. „Wir möchten diese Geschichte mit so vielen Menschen wie möglich teilen. Wir müssen anerkennen, dass es selbst wenn wir auf Tour gehen, immer noch Menschen durch geografische oder finanzielle Barrieren, die diese Shows nicht sehen können.“

Bei seiner letzten Telefonkonferenz am Donnerstagnachmittag, nach einem Quartal, in dem sich Disneys Themenparks erholten und im Vergleich zu den Erwartungen der Wall Street zu einer finanziellen Outperformance führten, wurde über die Zukunft der Kinostarts von Filmen diskutiert, aber nicht über das Geschäft mit Live-Kinos.

Gefilmte Produktionen sind ein relativ unerschlossener Markt, und daher ist es schwer abzuschätzen, ob sie Teil einer neuen Normalität in der Theaterbranche werden. Aber die aktuelle Situation für das Live-Theater ist ein entscheidender Moment, und die Produzenten sind möglicherweise zu begierig darauf, wieder zu öffnen und zu den Dingen zurückzukehren, die vor Covid waren.

“Wenn ‘König der Löwen’ gerade solche Probleme beim Ticketverkauf hat, wer dann nicht?” sagte Kenrick. “Also muss sich jeder fragen, gehen wir zu schnell zu schnell?”

Boston Beer CEO acknowledges Q2 arduous seltzer gross sales miss – ‘we don’t look very good’

Boston beer CEO David Burwick said Friday the company was surprised by the Truly Hard Seltzer sales disappointing in the second quartersaid CNBC in an interview that management doesn’t “look very smart” according to its previous forecast.

“The trade-off between buying grocery and liquor stores and consuming it at home in bars during this time, especially since the summer hit really hit us,” Burwick said “Closing bell.” “And to be honest, it hit us hard and fast. … We don’t look very smart if we miss these instructions. “

Boston Beer shares plunged Friday to close 26% at $ 701 apiece as Wall Street reacted negatively to the company’s worse-than-expected quarterly results Thursday night. Boston Beer reported earnings per share of $ 4.75 on sales of $ 603 million, while analysts surveyed by Refinitiv reported earnings per share of $ 6.69 and sales of $ 658 million. Dollars were looking for. The lower than expected demand for Truly was a major reason for the loss of profits.

Goldman Sachs said in a message to his customers Thursday that the decline in the second quarter raised questions about the company’s long-term growth plans and its ability to correctly predict its results, although the hard-seltzer category was expected to follow theirs glowing growth in recent years. Analyst Bonnie Herzog downgraded the stock from Buy to neutral.

Boston Beer owns brands like Samuel Adams, Twisted Tea, Truly Hard Seltzer, Angry Orchard Hard Cider, and other local craft beer brands.

Burwick said the company felt “very confident” in the tough seltzer category through mid-May and Memorial Day, with the unexpected slump not becoming apparent until later and in June when further Covid-related restrictions were eased.

“One of the things that is going on here, different from the March-April period, is that the country opens in May and people go to bars and restaurants. Hard Seltzer is not that well developed in these channels.” yet, “said Burwick, adding,” It will be and it will arrive. “

However, the company made no advance notice to alert investors and analysts to worrying sales developments that the executive said could be a point “for us to learn in the future.”

Despite the poor numbers for the second quarter, Burwick believes hard seltzer is a category that will continue to grow – even if the category has certainly slowed from its old triple-digit growth rate.

He believes the fall of the Hard Selters is actually a “positive sign of reopening” as people move from grocery stores to bars, preferring draft beer to Selters.

“We’re going to win a stake. The question is where the category goes. And you know, if someone out there can give a better feel for it, we’re all ears but we can’t control it,” said Burwick, who has been since 2018 President and CEO of the company and on the Board of Directors since 2005.

Boston Beer’s Truly Hard Selters and Twisted Tea brands remain the two fastest growing brands in the hard seltzer category, Burwick said. He also said the company expects the category to consolidate in the future after many new brands have entered, which would help Truly.

Overall, the company’s revenue increased 33% year over year in the second quarter.

“I don’t think there is another listed beverage manufacturer [alcoholic] or not alc, that’s close to that kind of top-line growth, “said Burwick.” We’re running the business long term and it’s obviously not a good day for investors, but we’ll be back, “he added.” In fact, we’re nowhere going with the same Gone company that we were two days ago. We are just as confident about our future. “

‘Black Widow’ nabs $13.2 million in field workplace gross sales Thursday

Scarlett Johansson plays Natasha Romanoff, AKA Black Widow, in Marvel’s “Black Widow”.

Disney | wonder

“Black Widow” sold $ 13.2 million in preview tickets Thursday, raising the box office bar of the pandemic era.

The wonder Film is expected to be between $ 80 million and $ 110 million on the receipts this weekend.

Universal‘s “F9” grossed $ 7.1 million during its Thursday previews last month $ 70 million for its debut weekend. Both were records for a film released in the wake of the coronavirus pandemic.

The revenue for “Black Widow” on Thursday is equal to the $ 15.4 million raised from “Spider-Man: Homecoming” and the $ 14.5 million raised from “Thor: Ragnarok” . Both films were released in 2017. “Spider-Man” grossed $ 117 million on its three-day opening weekend and “Thor: Ragnarok,” according to Comscore, $ 123 million.

The strong preview numbers – coupled with pre-sales of tickets that keep pace with several Marvel films released before the pandemic – suggest fans will see this feature hit the big screen, despite it being available at Disney + for US $ 30 Dollar is available.

“This is the weekend Marvel fans have been waiting for, and their enthusiasm is reflected in Thursday’s preview figures, which point to what may well be the best pandemic-era opening weekend for Black Widow,” said Paul Dergarabedian, senior media analyst at Comscore. “Despite its availability on Disney +, ‘Black Widow’ is undeniably a big screen event and once again proves the essence of the cinematic experience.”

The number of cinemas open to the public is still below the level of 2019. Before the weekend, around 81% of the cinemas will sell tickets, reports Comscore.

Regardless, Black Widow is headed for the biggest opening of the pandemic, and the industry is likely to see the highest total weekend box office gross since March 2020. This will be a massive step up from the $ 901,000 domestic box office made during the same weekend last year.

Disclosure: NBCUniversal is the parent company of Universal Studios and CNBC.