ORLANDO-Following up on its late-filing notice last week to the Securities and Exchange Commission, locally based Planet Hollywood International is reporting a first-half net income loss of $24.87 million or a loss of $2.49 per share compared to a first-half loss last year of $52.21 million or a loss 64 cents per share.

GlobeSt.com exclusively reported Planet Hollywood’s late-filing notice on Aug. 16.

For the second quarter ended July 1, Planet Hollywood lost $14.24 million or a loss of $1.43 per share versus a second-quarter 2000 loss of $38.89 million or a loss of 72 cents per share.

First-half revenue was $69.62 million versus $88.91 million a year ago. Second-quarter sales totaled $36.39 million compared to $45.41 million in the same period last year.

Food, beverage and merchandise sales in the second quarter decreased 18.3% to $35.3 million from $43.2 million. The company attributed the decrease to the closing or licensing of seven restaurants during fiscal 2000 and fiscal 2001, and the Planet Movies by AMC joint venture dissolution.

The company’s total revenue in 2000 was $170.25 million; $272.23 million in 1999; and $367.29 million in 1998. Planet Hollywood lost $79.74 million from operations in 2000; $194 million in 1999; and $200.74 million in 1998.

The company voluntarily filed for protection from its creditors under Chapter 11 of the U.S. Bankruptcy Code in October 1999 and came out of protection in May 2000 with a court-approved reorganization plan.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.