Bowling alley operator Ten focuses on customer affordability
Bowling alley operator Ten Entertainment has revealed that customers are turning to more nights out that are “affordable” and have a “broad appeal” as finances have become gradually squeezed by the cost of living crisis and has flagged more challenging times ahead.
In its half-year results for the 26 weeks to 26 June this year the British company that runs 47 bowling and family entertainment centres recorded a 52.6% sales growth compared to pre-pandemic trading in 2019 with a 19.5% sales growth in the six weeks since 16 May this year, a period when the UK’s venues were opened to the public without restriction.
The company said it had said it “deliberately” preserved its entertainment prices at 2019 levels and had also “managed” its food and drink prices.
Ten said it was mindful that the increases in cost-of-living would impact its customers in the second half of the year, but that it was determined to keep value for money pricing at the heart of its offer. However, the business added that it remained “very confident” that its model was well positioned to continue to deliver record growth ahead of current expectations.
Graham Blackwell, CEO of Ten Entertainment, said: “Despite challenging times ahead, we have a model that has broad appeal. We offer a place to eat, drink and play for families and friends to enjoy. We provide something for everyone and are committed to keeping the price of our family entertainment centres affordable.
“Our great value family entertainment proposition continues to deliver for our customer. 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.”