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Bowlero (BOWL) on Acquisition Spree, Adds 20th Center in FY 2024
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Bowlero Corporation (BOWL - Free Report) , a global leader in bowling entertainment, continues its impressive growth trajectory with the acquisition of Ten Pin in Hilliard, OH. This buyout marks its 20th center addition in fiscal 2024. This strategic move follows the successful acquisitions of Niles Bowling center in Niles, IL, and BAM! Entertainment Center in Holland, MI, during the second quarter.
The company, known for its iconic Lucky Strike brand, recently unveiled Lucky Strike Moorpark in Moorpark, CA. This 43,000 sq. ft. entertainment center, featuring 40 bowling lanes, an arcade with over 80 games and a sports bar, marks Bowlero’s commitment to enhancing the bowling entertainment experience in prime markets. Lucky Strike Moorpark is the company's first new build using the Lucky Strike brand since its acquisition in September.
Thomas Shannon, Founder, Chairman, and CEO of BOWL, expressed the company's dedication to expanding its presence and delivering premium experiences. The total investment in FY 2024 acquisitions, including the 14 Lucky Strike centers, amounted to $145.9 million.
Image Source: Zacks Investment Research
In addition to strategic acquisitions, Bowlero provided an update on its share repurchase program, showcasing a proactive approach to shareholder value creation. It repurchased approximately 7.5 million shares in the second quarter of fiscal 2024, totaling $80 million, and anticipates continuing the program throughout fiscal 2024 and beyond.
Bowlero remains poised for sustained growth, combining strategic acquisitions, innovative developments and a commitment to shareholder value creation. This affirms its position as a leader in the bowling entertainment industry.
Shares of the Zacks Rank #3 (Hold) company have gained 18.4% in the past six months against the industry’s decline of 7.6%.
The Zacks Consensus Estimate for VIRC’s 2024 sales and earnings per share (EPS) indicates a rise of 15.7% and 32.4%, respectively, from the year-ago levels.
DraftKings Inc. (DKNG - Free Report) carries a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 13.2%, on average. Shares of DKNG have rallied 137.5% in the past year.
The Zacks Consensus Estimate for DKNG’s 2024 sales and EPS suggests 27.5% and 84.9% growth, respectively, from the year-earlier levels.
Skechers U.S.A., Inc. (SKX - Free Report) carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 50.3%, on average. Shares of SKX have increased 36% in the past year.
The Zacks Consensus Estimate for SKX’s 2024 sales and EPS implies 10.2% and 16.3% improvement, respectively, from the prior-year levels.
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Bowlero (BOWL) on Acquisition Spree, Adds 20th Center in FY 2024
Bowlero Corporation (BOWL - Free Report) , a global leader in bowling entertainment, continues its impressive growth trajectory with the acquisition of Ten Pin in Hilliard, OH. This buyout marks its 20th center addition in fiscal 2024. This strategic move follows the successful acquisitions of Niles Bowling center in Niles, IL, and BAM! Entertainment Center in Holland, MI, during the second quarter.
The company, known for its iconic Lucky Strike brand, recently unveiled Lucky Strike Moorpark in Moorpark, CA. This 43,000 sq. ft. entertainment center, featuring 40 bowling lanes, an arcade with over 80 games and a sports bar, marks Bowlero’s commitment to enhancing the bowling entertainment experience in prime markets. Lucky Strike Moorpark is the company's first new build using the Lucky Strike brand since its acquisition in September.
Thomas Shannon, Founder, Chairman, and CEO of BOWL, expressed the company's dedication to expanding its presence and delivering premium experiences. The total investment in FY 2024 acquisitions, including the 14 Lucky Strike centers, amounted to $145.9 million.
Image Source: Zacks Investment Research
In addition to strategic acquisitions, Bowlero provided an update on its share repurchase program, showcasing a proactive approach to shareholder value creation. It repurchased approximately 7.5 million shares in the second quarter of fiscal 2024, totaling $80 million, and anticipates continuing the program throughout fiscal 2024 and beyond.
Bowlero remains poised for sustained growth, combining strategic acquisitions, innovative developments and a commitment to shareholder value creation. This affirms its position as a leader in the bowling entertainment industry.
Shares of the Zacks Rank #3 (Hold) company have gained 18.4% in the past six months against the industry’s decline of 7.6%.
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Virco Mfg. Corporation (VIRC - Free Report) sports a Zacks Rank #1 (Strong Buy). VIRC has a trailing four-quarter earnings surprise of 188.6%, on average. VIRC’s shares have surged 137% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for VIRC’s 2024 sales and earnings per share (EPS) indicates a rise of 15.7% and 32.4%, respectively, from the year-ago levels.
DraftKings Inc. (DKNG - Free Report) carries a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 13.2%, on average. Shares of DKNG have rallied 137.5% in the past year.
The Zacks Consensus Estimate for DKNG’s 2024 sales and EPS suggests 27.5% and 84.9% growth, respectively, from the year-earlier levels.
Skechers U.S.A., Inc. (SKX - Free Report) carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 50.3%, on average. Shares of SKX have increased 36% in the past year.
The Zacks Consensus Estimate for SKX’s 2024 sales and EPS implies 10.2% and 16.3% improvement, respectively, from the prior-year levels.