We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Bowlero (BOWL) Boosts Presence With New Locations in Michigan
Read MoreHide Full Article
Bowlero Corp. (BOWL - Free Report) is set to acquire Merri-Bowl Lanes and BAM! Entertainment Center. With these additions, the company will successfully expand its portfolio to five locations in Michigan. Expected to close in the fall of 2023, these acquisitions align with the company's ongoing growth strategy.
Situated in Livonia, MI, Merri-Bowl Lanes, a 35,000-square-foot family-oriented facility features 40 bowling lanes. While, Holland-based BAM! Entertainment Center offers 29 bowling lanes along with attractions like laser tag, axe throwing, high ropes course and an extensive arcade. These acquisitions will expand BOWL's diverse entertainment portfolio and enhance its ability to offer a wide range of engaging experiences to its customers.
Image Source: Zacks Investment Research
Focus on Expansion
Although shares of BOWL have declined 12.2% in the past three months compared with the industry’s 8.8% rise, the company is likely to benefit from its consistent same-store sales growth, ABC growth strategy including, acquisitions, newbuilds and conversions. During the nine months ended Apr 2, 2023, the company acquired 10 businesses, which includes twelve bowling entertainment centers. This brings the company’s total center count to 329.
Since the beginning of fiscal 2022, the company successfully added 44 new centers to its portfolio, with a significant portion including owned real estate. This ownership offers a long-term opportunity for capital generation through sale-leaseback deals or traditional mortgages. The company is actively engaged in over 35 conversion projects at present.
The company's pipeline remains strong with respect to new builds. Particularly in California, the company's largest market with approximately 50 existing locations. BOWL expects to add 10 more locations in the next 18 months. The company is focused on expanding into new markets to drive growth.
The Zacks Consensus Estimate for RCL’s 2023 sales and earnings per share (EPS) suggests gains of 54.5% and 180.3%, respectively, from the year-ago period’s levels.
Trip.com Group Limited (TCOM - Free Report) flaunts a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 147.9%, on average. The stock has increased 42.2% in the past year.
The Zacks Consensus Estimate for Trip.com Group’s 2023 sales and EPS suggests increases of 104.9% and 537.9%, respectively, from the year-ago period’s levels.
OneSpaWorld Holdings Limited (OSW - Free Report) carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 42.6%, on average. The stock has increased 20.5% in the past year.
The Zacks Consensus Estimate for OSW’s 2023 sales and EPS indicates rises of 44.5% and 110.7%, respectively, from the year-ago period’s levels.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Shutterstock
Bowlero (BOWL) Boosts Presence With New Locations in Michigan
Bowlero Corp. (BOWL - Free Report) is set to acquire Merri-Bowl Lanes and BAM! Entertainment Center. With these additions, the company will successfully expand its portfolio to five locations in Michigan. Expected to close in the fall of 2023, these acquisitions align with the company's ongoing growth strategy.
Situated in Livonia, MI, Merri-Bowl Lanes, a 35,000-square-foot family-oriented facility features 40 bowling lanes. While, Holland-based BAM! Entertainment Center offers 29 bowling lanes along with attractions like laser tag, axe throwing, high ropes course and an extensive arcade. These acquisitions will expand BOWL's diverse entertainment portfolio and enhance its ability to offer a wide range of engaging experiences to its customers.
Image Source: Zacks Investment Research
Focus on Expansion
Although shares of BOWL have declined 12.2% in the past three months compared with the industry’s 8.8% rise, the company is likely to benefit from its consistent same-store sales growth, ABC growth strategy including, acquisitions, newbuilds and conversions. During the nine months ended Apr 2, 2023, the company acquired 10 businesses, which includes twelve bowling entertainment centers. This brings the company’s total center count to 329.
Since the beginning of fiscal 2022, the company successfully added 44 new centers to its portfolio, with a significant portion including owned real estate. This ownership offers a long-term opportunity for capital generation through sale-leaseback deals or traditional mortgages. The company is actively engaged in over 35 conversion projects at present.
The company's pipeline remains strong with respect to new builds. Particularly in California, the company's largest market with approximately 50 existing locations. BOWL expects to add 10 more locations in the next 18 months. The company is focused on expanding into new markets to drive growth.
Zacks Rank and Other Key Picks
Bowlero carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the Zacks Consumer Discretionary sector are:
Royal Caribbean Cruises Ltd. (RCL - Free Report) sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 28.5%, on average. The stock has surged 152.9% in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for RCL’s 2023 sales and earnings per share (EPS) suggests gains of 54.5% and 180.3%, respectively, from the year-ago period’s levels.
Trip.com Group Limited (TCOM - Free Report) flaunts a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 147.9%, on average. The stock has increased 42.2% in the past year.
The Zacks Consensus Estimate for Trip.com Group’s 2023 sales and EPS suggests increases of 104.9% and 537.9%, respectively, from the year-ago period’s levels.
OneSpaWorld Holdings Limited (OSW - Free Report) carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 42.6%, on average. The stock has increased 20.5% in the past year.
The Zacks Consensus Estimate for OSW’s 2023 sales and EPS indicates rises of 44.5% and 110.7%, respectively, from the year-ago period’s levels.