Bowlero Corp. Announces Strong Results for the First Quarter of Fiscal Year 2023

The revenue performance in individual weeks can be positively or negatively impacted by timing shift of holiday/sporting events, holidays moving to weekends, and extreme weather events.

RICHMOND, Va.--(BUSINESS WIRE)--Nov 16, 2022--

Bowlero Corp. (NYSE: BOWL) (“Bowlero” or the “Company”), the world’s largest owner and operator of bowling centers, today provided financial results for the first quarter of the 2023 fiscal year, which ended on October 2, 2022. Bowlero announced revenue of $230.3 million, which was driven by dramatic growth in event revenue, the recovery of league business, and solid walk-in retail performance. Event Revenue grew 90% ($20 million) vs. the prior year's quarter and 69% ($17 million) vs. pre-pandemic quarter. Total revenue grew by 27.2% on a year-over-year basis and 55.0% compared to pre-pandemic performance. Same-store sales rose by 19.9% year-over-year and 37.6% relative to pre-pandemic quarter. 1

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