AMC's Walmart-exclusive at-home popcorn deal diversifies from theaters
AMC Theatres Perfectly Popcorn will come in three flavors
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AMC Entertainment on Tuesday unveiled the Walmart-exclusive launch of its at-home popcorn products, a move that helps diversify it from movie theaters.
In the upcoming six-product AMC Theatres Perfectly Popcorn line, the company will offer three microwaveable popcorn options and three ready-to-eat options. The world’s largest cinema operator said the two product types come in Classic Butter, Lightly Salted and Extra Butter flavors, the last of which involves "buttery topping packets" that enable consumers to "replicate that ultimate movie theater experience of adding even more butter flavor to their popcorn."
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Walmart will begin selling certain options of the AMC line starting March 11 through its "featured endcap program," according to AMC. That initial end-of-aisle launch, it said, will be followed in April by wider sales of the AMC Perfectly Popcorn line at over 2,600 of Walmart’s stores, plus the retailer’s website.
AMC Entertainment Holdings Inc. reported first-quarter sales more than five times higher than the year-ago period as moviegoers continue to return to theaters amid the COVID-19 pandemic. (iStock / iStock)
This June 24, 2021 photo shows a Walmart store in Oklahoma City. (AP Photo/Sue Ogrocki / AP Newsroom)
AMC said the cost of the ready-to-eat options will be $3.98, while the microwaveable options will go for $1 more, at $4.98. Neither of those prices includes tax.
An AMC Theatres logo hangs on the front of one of the company's movie theater in Harwood Heights, Illinois. (Scott Olson/Getty Images / Getty Images)
"Through our retail introduction of AMC Theatres microwave and ready-to-eat popcorn, we continue to Make Movies Better, this time in the comfort of your own home," CEO Adam Aron said in the release. "And with popcorn now hitting shelves, we remain focused on future innovations that will continue to surprise and delight movie lovers and our shareholders."
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Aron said AMC "could not have found a better partner than Walmart for this important extension of the AMC experience into the home." "Broader distribution channels" for AMC Theatres Perfectly Popcorn are expected later in 2023, the company’s news release said.
AMC’s chief executive had previously posted a photo of the product packaging on Twitter over the weekend. Plans to sell its popcorn outside movie theaters were originally shared by the company over a year ago.
Later Tuesday, AMC will publish its earnings for the final quarter of 2022.
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For the third quarter, AMC reported about $968.4 million in revenue, up nearly 27% from the $763.2 million it posted in the same period in 2021. Its net loss came in at $226.9 million.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT | 4.36 | -0.12 | -2.68% |
| APE | NO DATA AVAILABLE | - | - | - |
| WMT | WALMART INC. | 84.08 | -0.17 | -0.20% |