17 May 2010 Last updated at 05:12 ET

Robin Hood misses US box office target

The new film casts Robin Hood as a war veteran

Robin Hood has failed to hit number one at the North America box office, landing behind last week's box office lead, Iron Man 2.

The Ridley Scott movie, which opened the Cannes Film Festival last week, made $37.1m (£25.7m), while the Iron Man sequel netted $53m (£37.7m).

The film, starring Russell Crowe, fell short of industry forecasts that it would take $40m (£27.7m).

It is estimated Robin Hood cost at least $155m (£107.6m) to make.

The latest incarnation dispenses with much of the story's regular mythology, including the notion that he robbed from the rich and gave to the poor.

The critical reaction to the film has been mixed.

US BOX OFFICE

• 1 Iron Man 2 - $53m
• 2 Robin Hood - $37.1m
• 3 Letters To Juliet - $13.7m
• 4 Just Wright - $8.5m
• 5 How To Train Your Dragon - $5.1m

Source: Hollywood.com

Crowe's most recent major release, American Gangster, returned $43.6m (£30.2m) in its first weekend in the US three years ago.

There were two other new entries in the box office chart this weekend, including Letters To Juliet, a Shakespeare-inspired romance starring Amanda Seyfried at number three.

Basketball-based romance, Just Wright, with a cast headed by Queen Latifah, landed at number four.

The actress plays a physiotherapist who treats - and ends up falling for - a basketball player.