Ten Entertainment has reported “record-breaking” sales for the 17 weeks since reopening its venues, with a 22.5 percent growth in takings for the six weeks to 27 June, and a 42 percent increase during the following eleven weeks.
Acknowledging the role of “pent-up demand” among customers for leisure and hospitality after 18 months of disruption, the Bedford-based ten-pin bowling operator now looks towards a programme of expansion to capitalise on high engagement.
“Our hard work in the first five months of the year in preparing for the best possible opening has been rewarded by an exceptional level of sales growth on reopening,” said CEO Graham Blackwell. “The short-term boost from UK staycations and the pent-up demand has not yet subsided, but we do expect it to over time.”
“Nonetheless, we expect that the solid underlying levels of demand will continue for the business and that we can return sustainably to our previous track record of growth.”
Despite the positive upturn in sales helping the bowling brand return to profitability in May, closure for the first 20 weeks of the year saw overall H1 sales decline by more than half to £10.6m.
However, with all 46 venues now able to fully reopen, Blackwell stated Ten Entertainment is now “100 percent focused on the future.”
“We will commence some new developments over the coming months, as well as transforming our customer proposition in four of our busiest family entertainment centres across the UK.”
“Our cash position is secure and continues to strengthen further day by day giving us much confidence for the future.”