Mall of America (including Nick U) Weathering Financial Storm

[The Interpreter]

http://www.minnpost.com/stories/2008/11/27...financial_storm

[Beast1979]

"Weathering Financial Storm"

If I had a dollar for every time I heard that phrase I would have enough money to single handedly stop this crisis.

[WooferBearATL]

"Weathering Financial Storm"

If I had a dollar for every time I heard that phrase I would have enough money to single handedly stop this crisis.

Yes, usually a business trumpets such things right before you see liquidation notices.

[italianchef]

I wish that I lived close to the Mall of Americas and worked as a marketing professional at its Nickelodeon Universe. I'm glad that one amusement park is doing well in this lousy economy.

Quite frankly, I'm partial to indoor amusement parks. I had an AWESOME time at Lotte World in Korea, wihch is indoors. You never need to worry about the weather.

[WooferBearATL]

I wish that I lived close to the Mall of Americas and worked as a marketing professional at its Nickelodeon Universe. I'm glad that one amusement park is doing well in this lousy economy.

Quite frankly, I'm partial to indoor amusement parks. I had an AWESOME time at Lotte World in Korea, wihch is indoors. You never need to worry about the weather.

The weather is part of what makes a park enjoyable.

Otherwise, you're in a mall.

[The Interpreter]

...or Dubai.

[Beast1979]

I'm glad that one amusement park is doing well in this lousy economy.

If I remember right didn't Cedar Fair see an Increase profit? Or did I misread the Q3 results?

[The Interpreter]

The important information you are looking for is buried in the most recent financial results press release from Cedar Fair:

...This increase [for the year to date] is a result of a 5% increase, or 849,000 visits, in attendance to 19.9 million visits, and a less than one percent decrease in average in-park guest per capita spending to $40.43....

The third quarter figures are slightly distorted due to a calender difference (fewer days in third quarter this year), but on a comparable basis the trend is similar, increased attendance, slightly decreased spending:

...On a comparable operating period, excluding the additional operating week in 2007, revenues would have increased 3%, or approximately $18 million, on a 5%, or 585,000-visit, increase in attendance, a 1%, or $0.56, decrease in average in-park guest per capita spending and a 4%, or approximately $2 million, increase in out-of-park revenues....

So attendance is up but per capita spending is down slightly. The profit increase you talk about though, is in no small part due to accounting maneuvers and the closure of Geauga Lake, which was losing money.

http://www.cedarfair.com/ir/press_releases/index.cfm

Terpy, who reads these things like he does, not like an accountant, which he is not (which can sometimes be an asset, other times a deficit).

[WooferBearATL]

...or Dubai.

And we know what I think about Dubai.