Chuck E. Cheese's Revenue Rises 2.8% In 2016 Q3

Posted On: 12/13/2016

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TAGS: Chuck E. Cheese's 2016 third quarter, CEC Entertainment Inc., Peter Piper Pizza, family entertainment center, Chuck E. Cheese's revenue, Chuck E. Cheese RFID payment system

IRVINE, TX -- CEC Entertainment Inc., which owns the A href="" target="_blank">Chuck E. Cheese's and Peter Piper Pizza family entertainment brands, said its 2016 third-quarter revenue was $228.1 million, a 2.8%increase over the prior year's same quarter. On a calendar-week basis, same-store sales for company-owned stores rose 3.5% over the comparable weeks in 2015.

The quarter's sales were impacted by $0.6 million of incremental deferred revenue as a result of the implementation of its PlayPass card system; Chuck E Cheese's began phasing out tokens for an RFID payment system earlier this year. | SEE STORY

CEC reported a net loss of $2.4 million for the third quarter of 2016, compared with a net loss of $3.2 million for the 2015 quarter. The company attributed the reversal of losses to the increase in same-store sales. It operates 742 stores.