WWE Closes The World

Jack · 02-26-2003, 06:07 PM

Here are the press releases:

Quote:STAMFORD, Conn.--(BUSINESS WIRE)--Feb. 25, 2003--World Wrestling Entertainment, Inc. announced that effective today, it will close its restaurant located in New York City.

"We have ceased the restaurant operation as of today, but we will continue to operate the retail store until April 27, 2003," said Linda E. McMahon, Chief Executive Officer. "We will seek to sublease the facility and will work closely with the landlord's organization in this effort."

"We are reallocating resources to the continued growth of our global business, rather than focusing on a single, site-specific and local project," said Linda McMahon, Chief Executive Officer. "We will build shareholder value by continuing to create WWE branded products and programming which we can distribute on a worldwide basis."

WWE issued its third fiscal quarter earnings release today and will host a conference call Wednesday, February 26, 2003, at 11:00 a.m. ET.

Mrs. McMahon lauded the effort of the restaurant's current management and employees. "We would like to personally thank each and every employee at the restaurant and at WWE for their hard work, commitment and passion for the business."

World Wrestling Entertainment, Inc. (NYSE:WWE) is an integrated media and entertainment company headquartered in Stamford, Conn., with offices in New York, Los Angeles, Toronto and London. Additional information on the company can be found at wwe.com and corporate.wwe.com.

Quote:STAMFORD, Conn., Feb 25 (Reuters) - World Wrestling Entertainment Inc. said on Tuesday it swung to a fiscal third-quarter net loss as revenue slipped and that it would close its restaurant in New York City.

World Wrestling Entertainment reported a net loss in its fiscal third quarter of $16 million, or 23 cents a share, compared with a year-earlier profit of $9.4 million, or 13 cents a share.

Revenues in the quarter ended Jan. 24 fell to $95.6 million from $100.2 million a year earlier.

The company said it expects full-year 2003 revenues will be between $370 million and $375 million, with full-year earnings before interest, taxes, depreciation and amortization of between $42 million and $45 million.

Full-year operating income from continuing operations is expected to be between $27 million and $30 million.

Teenweek · 02-26-2003, 06:12 PM

Jeez, Have you taken over my job. :toast: :thumbs-up:

Jack · 02-26-2003, 06:14 PM

Quote:STAMFORD, Conn.--(BUSINESS WIRE)--Feb. 25, 2003

You were fucking slacking off. Can't rely on anyone anymore.. Damn. :disappointed:

Teenweek · 02-26-2003, 06:17 PM

I really did not care that much. I have been there a couple times before. Good food, fun time, but it was not worth all the money they put into it.

And if you care, WWE's last trade was 7.96. There is that better.

Buttmunch · 02-26-2003, 07:18 PM

Oh, the memories...

Keyser Soze · 02-26-2003, 07:59 PM

I won't miss "The World", but I do miss Teenweek's up to the second reporting.

FollowThisLogic · 02-26-2003, 10:48 PM

Quote:Oh, the memories...

:disappointed:

HollywoodJewMoses · 02-26-2003, 10:57 PM

well Unicron must be happy :thumbs-up:

Teenweek · 02-26-2003, 11:00 PM

I might actually buy a shirt now when they start having big discounts.

HollywoodJewMoses · 02-26-2003, 11:38 PM

thanks for the brainfart

Goatweed · 02-27-2003, 02:00 AM

I never ate there, was the food any good?

2 tired 2 give N F · 02-27-2003, 03:30 AM

When my friends and I meet up in the city we use that or MTV as a land mark to meet up in times square...depending on the time of day...oh well I guess we'll have to find something else...

HollywoodJewMoses · 02-27-2003, 03:34 AM

the wings were good
but for some reason, the drinks ,even with ice in them, were still WARM

The Sleeper · 02-27-2003, 03:55 AM

good riddance to a shitty venue for shows.

PollyannaFlower46 · 02-27-2003, 04:04 AM

Ugh, the food there was TERRIBLE...and they made THE WORST margaritas known to man...it was like ice and tequila.....ughh....blech

NaughtyAngel · 02-27-2003, 10:23 AM

but but but but but thats where stuff happened
:-(

Gooch · 02-27-2003, 01:55 PM

Ahhh...another end of an era. That place has some memories. And, the food was actually Damn good for Times Square, it was the drinks that sucked ass. They made a mean Buffalo Chicken salad.

They will be subletting the space out...so if things change fiscally for them, and they get HOT again, they can still bring it back...but it's kind of doubtful after getting burned.

Jack · 02-27-2003, 02:20 PM

I guess Raw XV will have to be done somewhere else. Such a shame.

Skitchr4u · 02-27-2003, 05:55 PM

this gives me a reason to rush right in and buy a shirt on sale from the world...yeah

2 tired 2 give N F · 02-27-2003, 08:24 PM

Quote:Ahhh...another end of an era. That place has some memories. And, the food was actually Damn good for Times Square, it was the drinks that sucked ass. They made a mean Buffalo Chicken salad.

Go to Popeyes...that's some good chicken...