By Chris Wack
Bowlero shares were up 5% to $14.06 after the company said that sales to date of its Summer Season Pass have exceeded $6 million.
The entertainment company said Monday this marks an all-time high in pass sales with more than two months of sales opportunity remaining.
The Summer Season Pass allows customers to enjoy two games of bowling every day throughout the summer, with the option to upgrade to a Premium Pass for additional perks.
This initiative offers additional benefits to the company by encouraging customers to visit Bowlero locations more frequently over the summer months, creating a consistent flow of traffic, it said.
"The increased traffic from the summer pass holders will drive uptake in our updated menu offerings rolling out this summer," said Chief Operating Officer Jeff Gliner.
In May, Bowlero reported third-quarter revenue of $337.7 million, with earnings of 13 cents a share.
The Summer Season Pass can be redeemed through Sept. 2.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
June 24, 2024 13:26 ET (17:26 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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