Here's Why Bowlero Stock Jumped Today
Shares of bowling company Bowlero (NYSE: BOWL) jumped on Monday after the company reported the results for its fiscal 2023. As of 10 a.m. ET, Bowlero stock was up 11%.
Bowlero owns over 300 bowling centers and the Professional Bowler Association. Having this unique combination of assets supports management's belief that it can grow consumer demand as it acquires other centers, remodels outdated buildings, and opens new locations.
So far, it seems like Bowlero's plan is working. In its fiscal 2023, which ended on July 2, revenue was up 16% year over year to nearly $1.1 billion. Some of this was due to acquisitions. But the company's same-store sales were up 12.8%, which is encouraging.
Source Fool.com
