CEC Entertainment, the parent company of the Chuck E. Cheese’s chain, reported a second consecutive quarter of growth.
Total revenues for the three months to September 27 were up 11.1 per cent to $221.9m. This was attributed to the additional revenues generated by the company’s acquisition of Peter Piper Pizza last October and an increase in store sales at its Chuck E. Cheese’s venues.
Store sales for the period increased 0.7 per cent at Chuck E. Cheese’s and five per cent at Peter Piper.
Overall adjusted EBITDA was up 20 per cent to $53.4m, while the Peter Piper chain experienced a 50.5 per cent growth.
CEC noted a net loss of $3.2m during the third quarter – an improvement on the loss of $13.3m recorded a year earlier.
“We are pleased to report our second consecutive quarter of positive same store sales growth at our Chuck E. Cheese’s stores,” said CEO Tom Leverton. “We believe the investments we are making to improve the in-store experience and communicating to our guests is generating positive momentum and driving traffic and sales at a reinvigorated Chuck E. Cheese’s.
“In addition, we are also pleased to report that Peter Piper Pizza continues its positive momentum, recording its 21st consecutive quarter of same store sales growth."
In total, there are 589 Chuck E. Cheese’s and 140 Peter Piper Pizza Stores, the bulk of which are directly operated by CEC itself. Although the majority of stores - either directly operated or franchised - are located in the US, the brands can also be found in 11 other countries.
