Cinema giant Cinemark Holdings swung to a loss for the first quarter due to the initial financial hit from the novel coronavirus pandemic starting in mid-March.
The company, led by CEO Mark Zoradi, on a morning analyst call said it plans to reopen its U.S. circuit in four phases starting on June 19 and that the reopening of its cinemas in Latin America will likely occur in August as Brazil especially remains a pandemic hotspot.
Cinemark plans with its staggered theater reopening to return to full operation by July 1. The first phase calls for a one-week, five theater test run from June 19 to ensure operating efficiency.