It’s a strike: Ten Entertainment smashes 2019 sales as families flock back to bowling alleys
Bowling firm Ten Entertainment posted sales growth of 52.6 per cent in the first half of 2022 compared to 2019 levels thanks to “record-breaking” bank holidays.
Footfall during the period was 43 per cent higher than experienced in 2019, as people flock to bowling alleys during the February half-term; the Easter break; and the May Jubilee bank holiday.
The reason behind this sustained momentum could be the entertainment firm’s pricing approach; it said it had “deliberately preserved our entertainment prices at 2019 levels” to ensure value for money for customers. Ten Entertainment said it has also managed food and drink prices.
Graham Blackwell, Chief Executive Officer, commented: “I am delighted that our teams have stepped up to the mark to deliver this excellent result. Our great value family entertainment proposition continues to deliver for our customers.
With over 50 per cent sales growth in the first half of this year compared to 2019, we have a winning formula in a post-Covid market. We have significantly outperformed the leisure and hospitality sector and are confident of delivering a record result this year”, he said.
Despite Blackwell acknowledged the challenging times ahead, he said his business model has “broad appeal”, as well as offsetting inflationary pressure.
Shares were up over six per cent this afternoon for the company, and Peel Hunt gave Ten Entertainment a ‘Buy’ rating.