ADVFN - Advanced Financial Network.
HOME» NYSE » R » RCL Stock Price » RCL Stock News

Royal Caribbean Cr Share News

 Royal Caribbean Cruises Ltd. Stock Price
RCL Stock Price
 Royal Caribbean Cruises Ltd. Stock Chart
RCL Stock Chart
 Royal Caribbean Cruises Ltd. Stock News
RCL Stock News
 Royal Caribbean Cruises Ltd. Company Information
RCL Company Information
 Royal Caribbean Cruises Ltd. Stock Trades
RCL Stock Trades

No Consumer Recovery Just Yet, Royal Caribbean CEO Says

By Kelly Nolan Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Royal Caribbean Cruises Ltd. (RCL) Chairman and Chief Executive Richard Fain expects an eventual consumer recovery, but he says his company hasn't seen it come to fruition yet. "The good news is it's not getting any worse," Fain said in an interview with Dow Jones Newswires. "We are anxious to see the upturn, but we haven't seen it yet." The comments come after the second-largest cruise ship operator by market share behind Carnival Corp. (CCL) reported third-quarter earnings Tuesday that beat company expectations, helped by last-minute bookings. The company's earnings fell 44% in the third quarter, as pricing remained soft amid a prolonged travel industry slump. However, Royal Caribbean projected worse-than-expected earnings and yield results--the industry's measure of ticket pricing and onboard spending--for the current quarter. Royal Caribbean shares closed Tuesday down 4.5% to $19.75. So far this year, the stock has gained about 44%. Amid a tough economy, cruise companies have had to discount trips significantly to attract skittish consumers, who are generally waiting until closer to sail date to book travel. While prices have improved sequentially from a steep drop off last fall, they're still generally catching up to prior levels. "We're giving people more of a good deal than I would like," Fain said. That said, Royal Caribbean's chief executive sees some reasons to be encouraged. While onboard spending is down, consumers are still making purchases, especially where they see bargains, he said, and ships are also sailing full, given the discounts. There's also been some anecdotal evidence that people may be starting to book trips farther in advance, but it's too early to say that with any decision, Fain added. "Reading between the tea leaves... I'd say any significant improvement in consumer sentiment or spending, we're poised to benefit quickly," Fain said. Looking ahead, Fain is also excited about the launch of the world's largest passenger cruise ship, Oasis of the Seas, set to launch Dec. 1. Advance bookings for the ship, which has a capacity of 5,400 guests, have been strong, the company has said. New ships like Oasis generally command a pricing premium, which should help Royal Caribbean next year, as bookings also tend to stay healthy during a debut period, analysts say. Tuesday, Royal Caribbean reiterated its expectation that net yields should improve for the first quarter and the full year 2010, in part due to the success it expects for ships like Oasis. Navigating the pricing environment should be easier next year, too, Fain said. Last fall, "we were in unchartered waters," Fain said. "And when you're in unchartered waters, it's hard to plot the most efficient course. Now we have a lot more experience and we're much better able to chart a more effective course." -By Kelly Nolan, Dow Jones Newswires; 212-416-2167;

Stock News for Royal Caribbean Cr (RCL)
07/22/201516:05:00Royal Caribbean To Hold Conference Call On Second Quarter 2015...
07/22/201516:05:00Royal Caribbean To Hold Conference Call On Second Quarter 2015...
07/22/201514:15:00Celebrity Cruises Joins Dîner en Blanc as Official Modern Luxury...
07/21/201512:00:00Royal Caribbean Appoints New Chief Marketing Officer
07/13/201506:00:00Kate McCue Advances Women's Leadership in Cruising as Celebrity...
07/09/201518:40:00Celebrity Cruises Partners with Lifetime's Emmy®-Nominated Series...
07/06/201509:00:00Fast, Free Internet And Exciting New Features For Royal Caribbean's...
06/22/201508:00:00Royal Caribbean International's Harmony of the Seas Completes...
06/20/201516:22:03The Best Stocks to Invest in Cruise Lines
06/19/201516:34:59Current Report Filing (8-k)
06/15/201512:32:00Royal Caribbean Promotes Dr. Zinan Liu To President Of China...
06/06/201522:32:00Celebrity Cruises Kicks Off Summer with Luxury Picnic Baskets...
06/04/201516:51:18Statement of Changes in Beneficial Ownership (4)
06/03/201512:55:00The Grass is Greener with Celebrity Cruises
06/03/201509:00:00Azamara Club Cruises Announces Major Upgrades For Its Two Ships
06/01/201518:37:41Statement of Changes in Beneficial Ownership (4)
05/31/201511:20:02Stocks to Watch in Cruise Lines: Carnival, Disney, Steiner
05/28/201518:26:06Statement of Changes in Beneficial Ownership (4)
05/28/201517:28:11Current Report Filing (8-k)
05/28/201516:33:32Initial Statement of Beneficial Ownership (3)

Royal Caribbean Cr and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations