CEC ‘making progress’ in 2015
Despite the challenging trading conditions, CEC Entertainment – operator of 590 Chuck E. Cheese's family entertainment centres and 140 Peter Piper Pizza stores in North America – made progress in a number of areas during the first quarter of 2015.
In the three months to March 29, CEC said revenues increased 3.8 per cent to $265.5m. The increase primarily related to additional revenues of $18.8m resulting from acquisition of Peter Piper Pizza, which closed in October 2014, partially offset by a decrease in same-store sales at its Chuck E. Cheese's stores.
Discussing the company's strategy in 2015, Tom Leverton, chief executive officer for CEC, said: "Working together, we introduced a new menu nationwide in April at our Chuck E. Cheese's locations to enhance our dining offering for kids and adults, and we launched an initiative to add Wi-Fi to all of our locations.
"The enhancements we are making at our Chuck E. Cheese's stores coincide with changes we are making in our marketing strategy, including a change in our primary marketing agency," Leverton added.
"We believe these efforts, along with other projects currently being implemented, will drive future revenue growth."