Issue Date: Vol. 51, No. 6, June 2011, Posted On: 5/11/2011
Chuck E. Cheese's Reports Flat Q1 Comp Store Sales
CEC Entertainment Inc., Chuck E. Cheese's, pizza-arcade chain, amusement business, arcade business, coin machine business, redemption business, family entertainment center, FEC
IRVING, TX -- CEC Entertainment Inc. reported that comparable store sales for its Chuck E. Cheese's pizza-arcade chain rose 1.1% for the first quarter, ended April 3, over the same period in 2010.
Total first-quarter revenues were up 4.1% to $256.4 million from $246.3 million during the same period last year. CEC said the increase was primarily attributed to a weighted average company-owned store increase of approximately eight units.
Net income for the first quarter ended at $34.1 million, compared with net income of $33.9 million in the first quarter last year.
In its fiscal report, CEC management predicted that comparable store sales for fiscal 2011 would rise 1% to 2%. The Chuck E. Cheese's parent also said it expects to open five additional company-owned stores, including three relocations during the coming year.
CEC and its franchisees operate 555 Chuck E. Cheese's stores in 48 states and seven foreign countries or territories.