Bowlero's traffic improved in February and March - Jefferies

According to a research report published by Jefferies, an investment banking firm, Bowlero Corporation, which operates bowling entertainment centers under the brand names Bowlmor Lanes and AMF, experienced an increase in traffic at their venues during the months of February and March in 2023. The report did not disclose specific numbers or percentages of the traffic growth, but it did mention that the improvement was observed amidst ongoing challenges posed by the COVID-19 pandemic.

The report attributed the traffic growth to several factors. Firstly, there was a general trend of consumers seeking out entertainment activities that could be enjoyed in a controlled indoor environment as the weather began to turn colder in many parts of the country. Additionally, the report noted that Bowlero had implemented various safety measures to mitigate the risks of COVID-19 transmission at their venues, which helped to boost consumer confidence and bring people back to their centers.

Furthermore, the report highlighted that Bowlero had been successful in attracting new customers through targeted marketing efforts and promotions. For instance, they had introduced discounted pricing for certain days of the week and had partnered with local businesses and organizations to offer group packages and special events. These initiatives helped to drive foot traffic to their venues and contributed to the overall increase in traffic during the period.

It is important to note that while the Jefferies report provided positive news about Bowlero's traffic growth in February and March, it is just one data point and should be considered in the context of other economic indicators and industry trends. Additionally, the situation with the COVID-19 pandemic is continually evolving, and any potential future developments could impact Bowlero's business performance.