TL;DR
Chuck E. Cheese reported a 7.2% revenue increase and 74% net income rise in the start of 2019, ahead of its merger with Leo Holdings Company. The brand's introduction of new All You Can Play packages contributed to the sales boost.
Chuck E. Cheese has had a successful financial start to 2019. The iconic family fun center reported revenue rose 7.2%, while net income rose 74%. Same-store sales also saw a 7.7% increase ahead of the brand's 2019 second quarter merger.
A Restaurant Business article stated that executives cited Chuck E. Cheese’s introduction of new All You Can Play packages as the main source of the sales increase. The pricing package enables guests to play as many games as they can in an allotted time. According to the article, Chuck E. Cheese also used additional tickets as an incentive to bring in more guests.
Tom Leverton , CEO of CEC Entertainment, Chuck E. Cheese's parent company, said recent sales have been a great start for momentum into the merger. The company recently announced its plans to join Leo Holdings Company and the merger is slated for the end of the second quarter . Restaurant Business also said that Leverton claims the merging initiative and reimagining of its over 600 locations is to continue improving profitability.
In this story
This story was originally published in 1851 Franchise on May 15, 2019. Burnaze summarizes and links to the original reporting.
Read the full story at 1851 FranchiseLiked this? Get the week's franchise news, explained
- Sunday 8 AM ET weekly + a monthly deep dive
- Sections picked for the industries you follow
- Every claim linked to its source. Free.