Planet Hollywood Still Bleeding But Not as Profusely

ORLANDO-The locally-based themed restaurant chain lost 11.9 million or $1.20 per share on revenue of $47.6 million in the third quarter ended Sept. 24. But that was an improvement from the posted $96 million loss or 88 cents a share on sales of $80.4 million in the comparable 1999 period.

By Alex Finkelstein | November 10, 2000 at 01:01 AM

That was an improvement from the $96 million loss or 88 cents a share on sales of $80.4 million the chain posted in the comparable 1999 period. Restaurants at least a year old continue to show a sales decline. The quarter's drop was 17%.

Planet Hollywood continues to close unprofitable locations as it struggles to reorganize itself after emerging from Chapter 11 bankruptcy protection in May. The stock is trading in the $2.40 per share range.

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