Lucky Strike Entertainment Corp (LUCK) 2024 Q2 法說會逐字稿

Good morning and welcome to the Bowlero second-quarter 2024 earnings conference call.

早安，歡迎參加 Bowlero 2024 年第二季財報電話會議。

(Operator Instructions) Thank you.

（操作員說明）謝謝。

Bobby Lavan, Bowlero's Chief Financial Officer, you may begin your conference.

Bobby Lavan，Bowlero 的財務官，您可以開始會議了。

Good morning to everyone on the call.

各位來電的人早安。

This is Bobby Lavan, Bowlero's Chief Financial Officer.

我是 Bobby Lavan，Bowlero 的財務長。

Welcome to our conference call to discuss Bowlero's second-quarter 2024 earnings.

歡迎參加我們的電話會議，討論 Bowlero 2024 年第二季的收益。

This morning, we issued a press release announcing our financial results for the period ended December 31, 2023.

今天上午，我們發布了新聞稿，公佈了截至 2023 年 12 月 31 日的財務表現。

A copy of the press release is available in the Investor Relations section of our website.

我們網站的投資者關係部分提供了新聞稿的副本。

Joining me on the call today are Thomas Shannon, our Founder and Chief Executive; and Lev Ekster, our President.

今天和我一起參加電話會議的還有我們的創辦人兼執行長 Thomas Shannon；還有我們的總統列夫·埃克斯特（Lev Ekster）。

I would like to remind you that during today's conference call, we may make certain forward-looking statements about the company's performance.

我想提醒您，在今天的電話會議中，我們可能會對公司業績做出某些前瞻性陳述。

Such forward-looking statements are not guarantees of future performance, and therefore, one should not place undue reliance on them.

此類前瞻性陳述並不能保證未來業績，因此，不應過度依賴它們。

Forward-looking statements are also subject to inherent risks and uncertainties that could cause actual results to differ materially from those expressed.

前瞻性陳述也受到固有風險和不確定性的影響，可能導致實際結果與所表達的結果有重大差異。

For additional information concerning factors that could cause actual results to differ from those discussed in our forward-looking statements, you should refer to cautionary statements in our press release as well as the risk factors contained in the company's filings with the SEC.

有關可能導致實際結果與我們前瞻性聲明中討論的結果不同的因素的更多信息，您應該參閱我們新聞稿中的警告聲明以及公司向 SEC 提交的文件中包含的風險因素。

Bowlero Corporation undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances that occur after today's call.

Bowlero Corporation 不承擔修改或更新任何前瞻性陳述以反映今天電話會議後發生的事件或情況的義務。

Also, during today's call, the company may discuss certain non-GAAP financial measures as defined by SEC Regulation G. The GAAP financial measures most directly comparable to each non-GAAP financial measure discussed and a reconciliation of the differences between each non-GAAP financial measure and the comparable GAAP financial measure can be found on the company's website.

此外，在今天的電話會議中，公司可能會討論SEC G 條例所定義的某些非GAAP 財務指標。GAAP 財務指標與所討論的每項非GAAP 財務指標最直接可比，以及每項非GAAP 財務指標之間差異的調節衡量標準和可比較的公認會計準則財務衡量標準可在公司網站上找到。

I will now turn the call over to Tom.

我現在會把電話轉給湯姆。

Good morning and thank you for joining us today.

早安，感謝您今天加入我們。

I am Thomas Shannon, Founder and CEO of Bowlero Corporation.

我是托馬斯‧香農 (Thomas Shannon)，鮑萊羅公司 (Bowlero Corporation) 的創辦人兼執行長。

Bowlero had a strong second quarter with total revenue growth of 13.4%.

Bowlero 第二季表現強勁，總營收成長 13.4%。

We continue to invest in our centers, our people, and our goal to become the premier experiential recreation company.

我們繼續投資我們的中心、我們的員工以及成為一流的體驗式娛樂公司的目標。

Our same store sales comp turned positive as consumers picked Bowlero for celebrations in the December holiday period.

由於消費者在 12 月假期期間選擇 Bowlero 進行慶祝活動，我們的同店銷售業績轉為正數。

Our revenues are up 65% from pre-pandemic levels as we grow market share through acquisitions and investing in our premium product.

隨著我們透過收購和投資優質產品來擴大市場份額，我們的收入比疫情前的水平增長了 65%。

Calendar year 2023 was a transformative year.

2023 年是變革的一年。

We started the year with 327 centers and ended with 350.

今年年初我們有 327 個中心，年底有 350 個。

We accelerated growth through acquisitions, bringing in the Lucky Strike premier centers into the portfolio, and we built two new builds that are outperforming expectations and have more than a dozen in the pipeline.

我們透過收購加速成長，將 Lucky Strike 頂級中心納入投資組合，我們建造了兩座新建築，其表現超出了預期，並且還有十多個正在建設中。

We put $350 million of capital to work that will generate industry leading 25%-plus returns on capital.

我們投入了 3.5 億美元的資本，將產生業界領先的 25% 以上的資本回報率。

The new builds and Lucky Strike combined is pushing our average revenue per unit -- revenue up.

新建築和 Lucky Strike 的結合正在推動我們的單位平均收入——收入上升。

In second quarter 2024, our average revenue per unit was up 6% year over year, combined with unit count increasing by 8%.

2024 年第二季度，我們的平均單位收入年增 6%，單位數量增加 8%。

We'll continue to focus on this formula to drive double-digit revenue growth over the long term.

我們將繼續關注這個公式，以推動長期兩位數的營收成長。

Our best-in-class events platform continues to outperform.

我們一流的活動平台持續表現出色。

Event revenue increased by 30% year over year.

活動收入較去年同期成長30%。

Strong corporate demand for employees to come together in a work-from-home environment, combined with companies seeking premium offerings at a reasonable price during the blockbuster December.

企業對員工在家工作的需求強勁，加上企業在 12 月期間尋求以合理價格提供優質服務。

Leagues was up 14% year over year as we expand socially opportunities combined with brand recognition from our PBA ownership.

隨著我們擴大社交機會以及 PBA 所有權帶來的品牌知名度，Leagues 年比成長 14%。

These are offsetting slower retail business traffic as sub-prime customer spend slows and we lap record-breaking prior year comps.

這些抵消了由於次貸客戶支出放緩而導致零售業務流量放緩的影響，並且我們打破了去年同期的記錄。

Last summer, we spent considerable effort tinkering with our business model.

去年夏天，我們花了相當大的努力來修改我們的商業模式。

We found good footing with a balance between promotional activity during the mid-week and enhanced pricing and offerings on the full-priced weekends.

我們在周中的促銷活動與全價週末的增強定價和產品之間找到了良好的平衡。

Our model was fully reset in mid-October, and that allowed us to identify pricing opportunities across certain centers.

我們的模型於 10 月中旬完全重置，這使我們能夠識別某些中心的定價機會。

In December, we took an average price increase of 2% across retail and the centers, which we applied to events in January.

12 月份，我們將零售和中心的平均價格上漲了 2%，並將其應用於 1 月份的活動。

We continued to see pricing opportunities enhancements across our product line.

我們繼續看到整個產品線的定價機會得到增強。

This year, we also invest in our C-suite.

今年，我們也投資了我們的最高管理層。

Last month, we announced the promotion of Lev Ekster to President.

上個月，我們宣布晉升列夫·埃克斯特 (Lev Ekster) 為總裁。

Lev brings 10-plus years of experience at Bowlero, leading dramatic expansion of leaves in amusements.

Lev 在 Bowlero 擁有 10 多年的經驗，領導葉子在娛樂領域的急劇擴張。

We are investing in our people by adding to the C-suite that will complement our 12,000-plus workforce and providing premium experiences to the customer, which drive revisits and long-term growth.

我們正在對員工進行投資，增加高階主管團隊，以補充我們 12,000 多名員工，並為客戶提供優質體驗，從而推動回訪和長期成長。

With that, let me hand it over to Lev for a business review.

接下來，讓我將其交給 Lev 進行業務審查。

Well, thank you, Tom.

好吧，謝謝你，湯姆。

I'm thrilled to be here today.

我很高興今天來到這裡。

The whitespace to grow revenue about more than 12 million square feet of entertainment space is tremendously exciting.

超過 1200 萬平方英尺的娛樂空間可以增加收入，這是非常令人興奮的。

When I joined Bowlero, our amusement business was an afterthought.

當我加入 Bowlero 時，我們的娛樂業務是事後才想到的。

Today, it accounts for $100 million of revenue and growing.

如今，它的收入已達 1 億美元，並且還在持續成長。

We're able to maximize amusement revenue by optimizing our pricing, game selection1, and floor plans.

我們能夠透過優化定價、遊戲選擇1和平面圖來最大化娛樂收入。

Opportunities to drive the customer into the arcade while they're there on a wait for lane or get them to extend their visit at the bowling by playing a few games is why we performed so well with amusements.

我們有機會在顧客等待球道時將他們帶入遊樂場，或者讓他們通過玩幾場遊戲來延長他們在保齡球館的時間，這就是我們在娛樂方面表現如此出色的原因。

We plan to implement the same successful processes to our bowling and food and beverage revenue.

我們計劃對我們的保齡球和餐飲收入實施同樣的成功流程。

The selling extra game of bowling has 100% incremental profits to us.

保齡球的額外銷售為我們帶來了100%的增量利潤。

Driving traffic in the slower summer months through promotion [or all you can bowl passes] help amusements and food and beverage attachment.

透過促銷[或所有你能吃到的保齡球票]在淡季的夏季增加交通量有助於娛樂和食品和飲料的附著力。

Our database and loyalty program has millions of customers.

我們的資料庫和忠誠度計劃擁有數百萬客戶。

Pushing content on the Professional Bowlers Association telecast with the 2024 season, featuring the most broadcast hours ever in a single season on big box, increases the awareness of our centers.

在職業保齡球協會 2024 年賽季的電視轉播中推送內容，在大電視盒上實現單季最長的轉播時間，提高了我們中心的知名度。

Lucky Strike is a well-recognized iconic brand.

Lucky Strike 是一個公認的標誌性品牌。

We're really leaning into the brand with the opening of Lucky Strike Moorpark in California and the upcoming opening of Lucky Strike Miami.

隨著 Lucky Strike Moorpark 在加州的開業以及 Lucky Strike 邁阿密的即將開業，我們確實對這個品牌產生了濃厚的興趣。

The demand from customers for these properties as well as the inbound interest for job opportunities underscores the promise of the brand as an important part of the entertainment culture we are building.

客戶對這些物業的需求以及對就業機會的入境興趣凸顯了該品牌作為我們正在建立的娛樂文化的重要組成部分的承諾。

I look forward to meeting you in the coming months and showing the results.

我期待在未來幾個月與您見面並展示結果。

And now, Bobby Lavan.

現在，鮑比·拉文。

Thanks, Lev. In the second quarter of 2024, we generated total revenue ex service fee of $304 million and adjusted EBITDA of $103.1 million compared to the last year of $268.1 million and adjusted EBITDA of $97.0 million.

謝謝，列夫。 2024 年第二季度，我們的除服務費總收入為 3.04 億美元，調整後 EBITDA 為 1.031 億美元，而去年同期為 2.681 億美元，調整後 EBITDA 為 9,700 萬美元。

As a reminder, service fee revenue is a pass through, a non-contributor to earnings and is being phased out.

提醒一下，服務費收入是一種轉嫁收入，不貢獻收入，並且正在逐步淘汰。

Our total growth was plus 13.4% year over year and same store comp was positive at 0.2%.

我們的總成長率年增 13.4%，同店業績年增 0.2%。

Positive 0.2%. same store comp is in line with our expectations.

正值0.2%。同店比較符合我們的預期。

Our communications with investors redound the middle as we continue to execute on difficult comparatives and outperform our peer set.

隨著我們繼續執行困難的比較並超越我們的同行，我們與投資者的溝通在中間得到了回報。

Adjusted EBITDA was $103.1 million compared to $97 million in the prior year.

調整後 EBITDA 為 1.031 億美元，上一年為 9,700 萬美元。

We continue to invest in our people with our same store comp payroll up $6.3 million year over year.

我們持續對員工進行投資，同店薪酬總額較去年同期增加 630 萬美元。

Lucky Strike outperformed our expectations for the $6 million-plus contribution EBITDA in the quarter compared to $4 million the previous year.

Lucky Strike 本季 EBITDA 貢獻超過 600 萬美元，超出了我們的預期，而上一年為 400 萬美元。

Our cost structure, primarily employee payroll, normalizes after a double-digit comp and payroll in March 2023.

我們的成本結構（主要是員工薪資）在 2023 年 3 月達到兩位數的薪資和薪資後正常化。

Corporate expenses are down while we continue to invest in our event sales team.

在我們繼續投資於我們的活動銷售團隊的同時，公司開支有所下降。

Non-comp centers contributed $14 million of EBITDA on approximately $41 million of revenue.

非補償中心貢獻了 1,400 萬美元的 EBITDA，營收約 4,100 萬美元。

The first three weeks of January 2024 were difficult, primarily due to significant ice across the country.

2024 年 1 月的前三週很困難，主要是因為全國各地出現大量冰雪。

Same store comps over the past two weeks have rebounded.

過去兩週同店銷售額有所反彈。

Due to the slow start, we are slightly revising our expectations for the third quarter to high single to teens growth and a flat to down low single digit same store comp for the third quarter.

由於起步緩慢，我們略微修正了對第三季的預期，即第三季的個位數成長到十幾歲的高成長，以及第三季同店比較持平到下降的低個位數成長。

We expect fourth-quarter total revenue to be up around 20%.

我們預計第四季度總收入將成長 20% 左右。

In the quarter, we spent $26 million on growth CapEx, $13 million on new builds, and $10 million on maintenance.

本季度，我們在成長資本支出上花費了 2,600 萬美元，在新建上花費了 1,300 萬美元，在維護上花費了 1,000 萬美元。

We spent $24 million on acquisitions, and we repurchased $80 million of shares in the quarter.

我們在收購上花費了 2,400 萬美元，並在本季回購了 8,000 萬美元的股票。

This morning, we announced a $0.055 quarterly dividend for an expected annual rate of $0.22.

今天早上，我們宣布發放 0.055 美元的季度股息，預計年利率為 0.22 美元。

Our Board of Directors additionally increased our share repurchase authorization to $200 million.

我們的董事會也將股票回購授權增加至 2 億美元。

We have ample liquidity to continue to investing our growth and rewarding our shareholders.

我們有充足的流動性來繼續投資我們的成長並回報我們的股東。

We also updated our capital guidance for the year.

我們也更新了今年的資本指引。

We are increasing our M&A spend from $160 million to $190 million.

我們將併購支出從 1.6 億美元增加到 1.9 億美元。

Conversions are up to $80 million from $75 million, and we continue to ramp up new builds, holding our previous guidance at $40 million.

轉換金額從 7500 萬美元增至 8000 萬美元，我們繼續增加新的構建，將先前的指導價維持在 4000 萬美元。

Our liquidity at the end of the quarter was $412 million with nothing drawn on our revolver and $190 million of cash.

截至本季末，我們的流動資金為 4.12 億美元，沒有動用左輪手槍，還有 1.9 億美元的現金。

Net debt was $960 million, and bank credit facility net leverage ratio is 2.5 times.

淨債務為9.6億美元，銀行信貸額度淨槓桿比率為2.5倍。

We have several exciting initiatives underway and are continuing to evolve and innovate.

我們正在進行多項令人興奮的舉措，並不斷發展和創新。

We believe in our fundamental offering and A, B, C, or acquisition, new build, and conversion strategy as part of our operating ethos, and we remain enthusiastic about our long-term growth trajectory.

我們相信我們的基本產品和 A、B、C 或收購、新建和轉換策略是我們經營精神的一部分，並且我們仍然對我們的長期成長軌跡充滿熱情。

Thank you for your time, and we look forward to seeing you on the road in the coming months.

感謝您抽出寶貴的時間，我們期待在未來幾個月的路上見到您。

(Operator Instructions) Steven Wieczynski, Stifel.

（操作員說明）Steven Wieczynski，Stifel。

Hey, guys, good morning.

嘿，夥計們，早安。

So I want to ask about the ability to hold guidance.

所以我想問一下持有指導的能力。

With the headwinds, you've already faced obviously with weather so far here in the third quarter.

面對逆風，第三季到目前為止，您顯然已經面臨惡劣的天氣。

And Bobby, you called out the impact of weather so far, but if we look at your guidance for the third quarter and the fact January is behind us, obviously, it seems like you guys might need to see a significant upswing in trends in February and March.

鮑比，到目前為止，您指出了天氣的影響，但如果我們看看您對第三季度的指導，以及一月已經過去的事實，顯然，您可能需要看到二月趨勢的顯著上升和三月。

So am I missing something there?

那我是不是錯過了什麼？

Or are there other levers that you guys can use or willing to pull to get that third quarter more in line with your guidance?

或者你們可以使用或願意使用其他槓桿，以使第三季更符合你們的指導？

Yeah.

是的。

I mean, the first three weeks of January hit us for about $7 million to $8 million.

我的意思是，一月份的前三週為我們帶來了大約 700 萬至 800 萬美元的收入。

But we haven't seen a rebound in the past few weeks, so we're pretty comfortable with our guidance at this point.

但過去幾週我們沒有看到反彈，因此我們對目前的指導感到非常滿意。

Okay.

好的。

So based on what you're seeing today, you just think February and March can carry you into that guidance range there?

那麼，根據您今天所看到的情況，您認為二月和三月可以將您帶入該指導範圍嗎？

Correct.

正確的。

Okay, got it.

好，知道了。

And then the second question is for Lev since he's on one of these calls for the first time.

第二個問題是問列夫的，因為他第一次參加這些電話會議。

But Lev, you obviously been at the company for a long time.

但是列夫，你顯然已經在公司工作了很久了。

Obviously, you've got a nice promotion here.

顯然，你在這裡得到了很好的升遷。

Was there anything you really want to go after or change any major initiatives do you think is really going to benefit the Bowlero story over time?

您是否真正想要追求什麼或改變什麼重大舉措，您認為隨著時間的推移，這些舉措真正會對鮑萊羅的故事有利？

Yeah.

是的。

So I've been here long enough to see that we have probably the best mousetrap, the strongest business model out there.

所以我在這裡待了足夠長的時間，看到我們可能擁有最好的捕鼠器，最強大的商業模式。

It really comes down to me focusing on the execution of that to maximize that food and beverage and amusement attachment to help continue to improve our people, our processes across the company just to execute at a higher level.

這實際上取決於我專注於執行，以最大限度地提高食品、飲料和娛樂的附加價值，以幫助繼續改進我們的員工和整個公司的流程，以便在更高的水平上執行。

The business at its core is phenomenal, but I want to get us to good to great -- from good to great with these processes.

其核心業務是非凡的，但我希望透過這些流程讓我們從優秀走向卓越。

Okay.

好的。

Got you, guys.

明白了，夥計們。

Appreciate it.

欣賞它。

Thank you very much.

非常感謝。

Randy Konik, Jefferies.

蘭迪·科尼克，傑弗里斯。

Yeah, maybe to follow up on that a little bit on the processes, can you give us some perspective on often the things you're working on?

是的，也許為了跟進一下流程，你能給我們一些關於你正在做的事情的看法嗎？

I think, Bobby, we had spoken at our winter summit I think a food and beverage system that's being implemented or looking to.

我想，鮑比，我們在冬季高峰會上說過，我認為正在實施或正在尋求食品和飲料系統。

Just can you give us some perspective on some of the things you're working on and areas of focus that we can see to help these 21 already very high margins potentially go even higher.

您能否就您正在進行的一些工作以及我們認為可以幫助這 21 個已經非常高的利潤率進一步提高的重點領域提供一些看法。

Just curious.

只是好奇。

Thanks, guys.

多謝你們。

Yeah, this is Lev, I'm happy to take that.

是的，這是列夫，我很高興接受。

So Bobby's been with us not that long, but the level of data that he brings to the table is something that we haven't had at our fingertips historically.

鮑比加入我們的時間並不長，但他提供的數據水平是我們歷史上從未有過的。

So our decision making is way more data driven these days.

因此，如今我們的決策更多是由數據驅動的。

But also something we're focused on is really reducing the variance across all of our centers, 350 centers.

但我們關注的另一件事是真正減少我們所有中心（350 個中心）之間的差異。

We want to tighten up the processes.

我們希望加強流程。

So can we apply standards for repair maintenance budgets?

那我們可以應用維修保養預算標準嗎？

Can we give guidance on what optimal staffing parties should be to really maximize the foot traffic in our centers and have that convert to revenue?

我們能否就最佳的人員配置提供指導，以真正最大限度地提高我們中心的人流並將其轉化為收入？

So we're going to foster this culture of collaboration across our company and use what works best across a given number of centers and expand that knowledge and that process to the rest of the centers.

因此，我們將在整個公司範圍內培養這種協作文化，並在給定數量的中心中使用最有效的方法，並將該知識和流程擴展到其他中心。

Got you.

明白你了。

And then just any areas in particular you're mostly focused on in addition to the ones you just talked about?

那麼除了您剛才談到的領域之外，您最關注的領域還有哪些呢？

Anything around food and beverage, anything else?

食物和飲料方面還有什麼嗎？

Yeah.

是的。

I mean, F&B, we're installing a fairly robust inventory management system that ultimately can add significant amount of dollars to the bottom line.

我的意思是，餐飲業，我們正在安裝一個相當強大的庫存管理系統，最終可以增加大量的利潤。

We've always had a perpetual inventory system.

我們一直都有永續盤存制。

So that opportunity is rolling out this summer.

所以這個機會將於今年夏天推出。

We talked about the website.

我們討論了網站。

The website will roll out the next few months.

該網站將在未來幾個月推出。

And the reason the website is so important is it allows for dynamic pricing.

該網站如此重要的原因是它允許動態定價。

Ultimately, our goal, it is to fill the centers on the weekends at the highest price we can and fill the centers at the most reasonable price we can during the week.

最終，我們的目標是在周末以最高的價格填充中心，並在一周以最合理的價格填充中心。

And ultimately, dynamic pricing allows you to do that, and the website system will allow that.

最終，動態定價允許您做到這一點，網站系統也將允許這樣做。

And then when we get to the summer -- this summer, we're going to reimplement Summer Games, which is something we talked about that we did not have last year that cost us $10 million of revenue.

然後，當我們進入夏天時——今年夏天，我們將重新舉辦夏季奧運會，這是我們去年討論過的、花了 1000 萬美元收入的項目。

But it also is going to be -- the website will allow us to effectively drive traffic in the slower times in the summer, which is a key dynamic for really getting leverage out of our model.

但它也將是 - 該網站將使我們能夠在夏季的較慢時期有效地提高流量，這是真正發揮我們模型影響力的關鍵動力。

Thanks.

謝謝。

And just last question on the capital plan, the $190 million versus $160 million, is that a function of just more assets you think coming to market, the bid-ask spread narrowing?

關於資本計畫的最後一個問題，1.9 億美元與 1.6 億美元，這是否是您認為進入市場的資產數量增加、買賣價差縮小的結果？

Like just gives perspective on the $190 million versus $160 million, just the rationale behind that.

就像剛剛給了 1.9 億美元和 1.6 億美元的觀點，以及背後的理由。

Thanks, guys.

多謝你們。

Yeah.

是的。

So we bought Lucky Strike.

所以我們買了Lucky Strike。

We closed September 15.

我們於 9 月 15 日關閉。

We got in there, and we're accelerating our capital plan there just because the opportunity set in Lucky is significant.

我們進入那裡，並且正在加速我們的資本計劃，因為瑞幸的機會非常重大。

So really, it's the focus of that.

確實，這是重點。

We've got a few more deals in the pipeline.

我們還有更多交易正在進行中。

But really, at the end of the day, we're pulling Lucky Strike in where we felt we'd spend the capital over a few years.

但實際上，歸根結底，我們將把 Lucky Strike 拉到我們認為可以在幾年內花費資金的地方。

It's definitely to be sooner.

肯定是要早點了。

Got it.

知道了。

Thanks, guys.

多謝你們。

Thank you.

謝謝。

Jason Tilchen, Canaccord Genuity.

Jason Tilchen，Canaccord Genuity。

Hi, Jason.

嗨，傑森。

Great morning, thanks for taking the question.

早上好，感謝您提出問題。

Just to start, I was curious on Lucky Strike.

首先，我對 Lucky Strike 很好奇。

In the press release, you talk a little bit about how profitability there was ahead of targets, wondering if you could maybe just spend a minute drilling down on that a bit, talking about some of the areas -- we're already seeing savings -- and then some of these further areas of improvement that you've identified that some of that, which could be centered around some of those investments you're just talking about?

在新聞稿中，您談到了盈利能力如何超前於目標，想知道您是否可以花一點時間深入研究一下，談論一些領域 - 我們已經看到了節省 - - 然後您已經確定了一些進一步的改進領域，其中一些可能集中在您剛剛談論的一些投資上？

Yeah.

是的。

I mean, the Bowlero procurement system is very strong.

我的意思是，鮑萊羅的採購系統非常強大。

And so ultimately, we put in our systems in Lucky.

最終，我們將我們的系統安裝到了 Lucky 中。

We only closed on September 15th, so it's that.

我們只在 9 月 15 日關門，就這樣。

But on top of that, our events platform just crushed it in December.

但最重要的是，我們的活動平台在 12 月剛剛粉碎了它。

And we had multiple center buyouts, which are very, very profitable to the business.

我們進行了多個中心收購，這對我們的業務來說非常非常有利可圖。

And center buyouts are great because they take down the center.

中心買斷很棒，因為它們可以摧毀中心。

You know exactly how much staffing you're doing, how much food you're doing, how much liquor you're doing, things like that.

你確切地知道你在做什麼，你在做什麼，你在做什麼，你在做什麼。

And that ultimately drove incremental profitability in centers.

這最終推動了中心獲利能力的提高。

So we're very happy with where Lucky coming out.

所以我們對 Lucky 的出現感到非常滿意。

Great.

偉大的。

That's helpful.

這很有幫助。

And just one quick follow-up, maybe give an update on how the value bundles that you've been using during the peak times have performed over recent months as you've expanded into more centers across the country?

只需一個快速跟進，也許可以更新一下您在高峰時段使用的價值捆綁包在最近幾個月隨著您擴展到全國更多中心而表現如何？

Yeah.

是的。

I mean, ultimately, the pizza and pitchers in every center were getting good uptake.

我的意思是，最終，每個中心的披薩和水罐都得到了很好的採用。

You'll see that we're testing out the Alley Sampler.

您會看到我們正在測試巷子採樣器。

A lot of thes1e things are take a little bit of a pause in December because December is very focused on events, but we're pretty happy with the uptake.

很多事情在 12 月會稍微暫停一下，因為 12 月非常關注事件，但我們對人們的接受程度感到非常滿意。

We're really focused on per what Lev said, is taking best practices from centers that are very good at upselling these products and pushing that to the rest of the portfolio.

我們真正關注的是列夫所說的，從那些非常擅長追加銷售這些產品的中心汲取最佳實踐，並將其推廣到產品組合的其他部分。

(multiple speakers) This is Tom.

（多位發言者）這是湯姆。

I'll chime in and add.

我會插話補充。

Dave & Buster's was down 7.8% on a same store basis in their last reported quarter.

Dave & Buster's 在上一季的同店業績基礎上下跌了 7.8%。

We were up 2/10 of a percent, right?

我們上漲了 2/10%，對嗎？

So it's a -- we are massively outperforming the leisure and hospitality sector.

因此，我們的表現遠超過休閒和酒店業。

And so the way you get there is by doing all these things like bundling value, pricing, tinkering with pricing, and all these other continuous optimization exercises.

因此，實現這一目標的方法是進行所有這些事情，例如捆綁價值、定價、修改定價以及所有其他持續優化練習。

And so don't think of it as one initiative or another initiative that we talk about.

因此，不要將其視為我們談論的一項或另一項舉措。

It's really been systematized, and it's getting more optimized, and we'll continue to become more optimized under Lev's leadership.

它確實已經系統化了，並且正在變得更加優化，我們將在Lev的領導下繼續變得更加優化。

But we're playing with pricing and promotion all the time.

但我們一直在玩弄定價和促銷。

And I think that the result of being up when everyone, all of our competitors, all of our peers were in some cases down massively, it shows you the strength of our model and the strength of how we operate and how we adjust on the fly.

我認為，當每個人、我們所有的競爭對手、我們所有的同業在某些情況下都大幅下跌時，我們的業績卻上漲了，這向你展示了我們模式的優勢，以及我們運作方式和動態調整方式的優點。 。

Perfect.

完美的。

Thanks so much.

非常感謝。

Matthew Boss, J.P. Morgan.

馬修‧博斯，摩根大通。

Great.

偉大的。

Thanks.

謝謝。

How are you doing?

你好嗎？

Hey, good.

嘿，很好。

How are you?

你好嗎？

Tom, maybe just to start off, could you speak to performance that you're seeing from Lucky Strike maybe relative to initial expectations?

湯姆，也許首先，您能談談您從 Lucky Strike 中看到的與最初預期相關的表現嗎？

And then could you just elaborate on the customer response specifically to some of the pricing and promotion changes and how you saw this impact second-quarter comp?

然後您能否詳細說明客戶對某些定價和促銷變化的反應，以及您如何看待這種對第二季比較的影響？

I'll take the first part, and I'll hand off to Lev on the second part.

我將負責第一部分，第二部分將交給 Lev。

We're very pleased with Lucky Strike.

我們對 Lucky Strike 非常滿意。

It's outperformed our expectation.

它的表現超出了我們的預期。

They had a very, very strong December, a very strong holiday season, and we're seeing shockingly high revenue numbers out of the Lucky Strike properties.

他們度過了一個非常非常強勁的十二月，一個非常強勁的假期季節，我們看到 Lucky Strike 物業的收入數字高得驚人。

We also did -- we hired Nielsen to conduct a brand survey.

我們也這樣做了——我們聘請尼爾森進行品牌調查。

And they came in and concluded that the strength of the Lucky Strike brand was between 50% and 100% stronger than Bowlero in terms of aided and unaided customer awareness.

他們進來後得出的結論是，在有幫助和無幫助的客戶認知度方面，Lucky Strike 品牌的實力比 Bowlero 強 50% 到 100%。

And so as an experiment, we opened our most recent center in Moorpark, California, which is just northwest of Los Angeles as a Lucky Strike.

因此，作為一項實驗，我們在加州穆爾帕克開設了最新的中心，該中心位於洛杉磯西北部，作為一個幸運的機會。

And it is wildly outperformed expectations.

它的表現遠遠超出了預期。

So we feel very, very good about the Lucky Strike brand.

所以我們對 Lucky Strike 品牌感覺非常非常好。

We're about to open our second new Lucky Strike location in Miami that will open probably this month, if not the beginning of March.

我們即將在邁阿密開設第二家新的 Lucky Strike 門市，即使不是三月初，也可能會在本月開幕。

But we couldn't be happier with the Lucky Strike brands, Lucky Strike performance.

但我們對 Lucky Strike 品牌和 Lucky Strike 性能感到非常滿意。

We already saw 50% increase in profitability in the last quarter versus what Lucky Strike had done a year ago under prior ownership, and we're just getting started.

我們已經看到上個季度的盈利能力比一年前 Lucky Strike 在先前所有權下的盈利能力增長了 50%，而我們才剛剛開始。

And I'll give the second part of that question to Lev.

我將把這個問題的第二部分交給列夫。

Okay.

好的。

So with regard to our promotions, like Tom mentioned earlier, we just continue to tinker.

因此，關於我們的促銷活動，就像湯姆之前提到的那樣，我們只是繼續修補。

And we're trying new things, and we try new price points, we try new offerings.

我們正在嘗試新事物，我們嘗試新的價格點，我們嘗試新的產品。

Things that work, we expand.

我們會擴展那些有效的事情。

So Tom mentioned the pizza and pitcher worked really well -- or sorry, Bob mentioned that it's performing, right?

湯姆提到披薩和水罐效果非常好 - 或者抱歉，鮑勃提到它的性能很好，對吧？

So what do we do?

那我們該怎麼辦？

We expanded that to our lead programs.

我們將其擴展到我們的主導項目。

And now we actually have a national lead program that comes with a pizza and pitcher for every team.

現在我們實際上有一個全國領先計劃，為每個團隊提供披薩和投手。

And that's really resonating; it's one of our fastest national programs in terms of sign-ups.

這確實引起了共鳴；就註冊而言，這是我們最快的國家計劃之一。

We're bringing Summer Games back.

我們將恢復夏季奧運。

We're not going to bring it back exactly how we've done it in the past.

我們不會完全恢復過去的做法。

We have some learnings.

我們有一些經驗教訓。

We're going to optimize that program.

我們將優化該程式。

But at the end of the day, all of these, none of them operate in a vacuum.

但歸根結底，所有這些都不是在真空中運作的。

We tried to get foot traffic into our centers, and now we're focused on execution once we have that customer.

我們試圖吸引人流進入我們的中心，現在一旦我們有了該客戶，我們就專注於執行。

So we're seeing a really nice improvement in our NPS scores, which is our guest service landscape, right?

所以我們看到我們的 NPS 分數有了很大的改善，這就是我們的客戶服務環境，對嗎？

We're investing into our people, and I think it's really a showing in those results.

我們正在對我們的員工進行投資，我認為這確實是這些成果的體現。

And now we get that foot traffic back with these promotions, and we execute.

現在，我們透過這些促銷活動重新獲得了客流量，並開始執行。

We convert that to revenue, higher F&B attachment, for example.

例如，我們將其轉化為收入、更高的餐飲依賴。

When I manage (inaudible) like when I look at December, we took two points on retail.

當我管理（聽不清楚）時，就像我查看 12 月一樣，我們在零售方面獲得了兩點。

We look back at it after four weeks of running, and we saw no consumer pushback.

我們在運行四個星期後回顧它，沒有看到消費者的反對。

So we rolled it out in events in January, and event is up 3% in January.

所以我們在一月份的活動中推出了它，一月份的活動增加了 3%。

So the consumer is not pushing back on our price movements.

因此，消費者並沒有抵制我們的價格變動。

And frankly, they see the value in what we're charging.

坦白說，他們看到了我們收費的價值。

And so ultimately, we feel like the opportunity to continue going where we increased price in some places potentially, like increased shoe pricing, maybe lower the price of bowling but increase the price of food.

因此，最終，我們覺得有機會繼續在某些地方提高價格，例如提高鞋子的價格，也許會降低保齡球的價格，但會提高食物的價格。

Like there's just a lot of opportunities to continue taking wallet share while giving the consumer a premium product1.

就像有很多機會繼續佔據錢包份額，同時為消費者提供優質產品1。

Great.

偉大的。

And then Bobby, maybe just as we think multiyear, what's your level of visibility to the new unit pipeline for next year where we sit today or just the potential opportunity to accelerate new builds?

然後，鮑比，也許正如我們多年來的想法一樣，您對我們今天坐的明年新單位管道的可見性程度如何，或者只是加速新建設的潛在機會？

And just how you view the whitespace opportunity in the highly fragmented bowling center total addressable market?

您如何看待高度分散的保齡球中心整體潛在市場中的空白機會？

Yeah.

是的。

Well, we look at the whitespaces as the total entertainment market.

好吧，我們將空白視為整個娛樂市場。

So let's -- you can see in our press release, we're moving away from the world center, we're moving towards locations.

所以讓我們——你可以在我們的新聞稿中看到，我們正在遠離世界中心，我們正在向其他地點移動。

The whitespaces significant -- from a newbuild perspective, we've got at least five a year for the next few years.

空白很重要——從新建的角度來看，未來幾年我們每年至少有五個空白。

And remember these newbuilds, they come in at $7 million, $8 million versus -- our average unit value is $3 million.

請記住，這些新船的售價為 700 萬美元、800 萬美元，而我們的平均單位價值為 300 萬美元。

So for every new build that comes off, it's effectively three smaller acquisitions.

因此，對於每一個新的構建，它實際上是三個較小的收購。

On the acquisition side, the bid-ask hasn't really come in yet.

在收購方面，買賣尚未真正進入。

So we're building dry powder while we expect a little bit more volatility in the entertainment space over the next year.

因此，我們正在建立乾粉，同時我們預計明年娛樂領域的波動會更大。

So I don't want to get pinned down by unit count and unit growth, but we are building dry power when we expect bid-ask to come down.

因此，我不想受到單位數量和單位增長的限制，但當我們預計投標報價下降時，我們正在建造乾發電。

It's a great color.

這是一個很棒的顏色。

Best of luck.

祝你好運。

Eric Handler, Roth MKM.

埃里克·漢德勒，羅斯·MKM。

Yes, good morning.

是的，早安。

Thank you for the question.

感謝你的提問。

Bobby, you spoke about increased payroll costs in the quarter on a same comp basis.

鮑比，您談到了本季在相同薪酬基礎上增加的工資成本。

I'm curious, is that what weighed on your gross margin on a year-over-year basis?

我很好奇，這是否會影響你們的毛利率？

And is that anniversaries itself, I believe you said at the end of the March quarter -- does that allow gross margin then to start improving in fiscal '25?

我相信您在 3 月季度末說過，週年紀念本身就是周年紀念日嗎？這是否能讓毛利率在 25 財年開始改善？

So there are two things that weighed on our gross margin.

因此，有兩件事影響了我們的毛利率。

So there is $6 million of payroll in the comp centers that ultimately cost us about 200 basis points on gross margin.

因此，補償中心有 600 萬美元的工資，最終導致我們的毛利率損失了約 200 個基點。

The bigger one, and I want to just give these numbers, is that Lucky Strike and the new acquisitions did $14 million of EBITDA, but they had $8 million of D&A.

更大的一個，我只想給出這些數字，Lucky Strike 和新收購的 EBITDA 為 1,400 萬美元，但 D&A 為 800 萬美元。

So you effectively had $6 million of gross profit on $41 million of sales.

因此，您實際上在 4100 萬美元的銷售額中獲得了 600 萬美元的毛利。

So the M&A accounting does depress our gross margin.

所以併購會計確實壓低了我們的毛利率。

But ultimately, when you use a seven-year formula for D&A for business that is 50 years plus, it's skewing it in the short term, but it will benefit in the long term.

但最終，當你對 50 年以上的企業使用七年期 D&A 公式時，它會在短期內產生偏差，但從長遠來看會受益。

If I think about D&A last quarter on acquisitions, it was $4 million, now it's $8 million.

如果我考慮上個季度的收購 D&A，當時是 400 萬美元，現在是 800 萬美元。

Additionally, in the quarter, we had $1.4 million of D&A from -- we close West Nyack, Lucky Strike.

此外，在本季度，我們從 West Nyack、Lucky Strike 獲得了 140 萬美元的 D&A。

So we are being very focused on cash flow and on performance, but it does create some noise in the numbers.

因此，我們非常關注現金流和業績，但這確實在數字中產生了一些噪音。

Okay, great.

好的，太好了。

And then the implementation of a dividend was a nice surprise.

然後股息的實施是一個驚喜。

I'm curious what made you decide that now was the right time to increase capital returns?

我很好奇是什麼讓您決定現在是增加資本回報的最佳時機？

Complementing your buybacks would now -- we've got this dividend.

現在補充你的回購——我們已經得到了股息。

At the same time, you're increasing your investment spending.

同時，您正在增加投資支出。

So maybe to talk a little bit about the balance sheet.

也許可以談談資產負債表。

Yes.

是的。

So I joined here in May, and I have been unbelievably impressed by the cash flow generation of this business in the second quarter, third quarter.

所以我在五月加入了這裡，這個業務在第二季、第三季產生的現金流給我留下了難以置信的印象。

We discussed that internally when we looked at all of our different outflows needed over the next few years, M&A, conversions, new builds.

當我們考慮未來幾年所需的所有不同資金流出、併購、轉換、新建時，我們在內部討論了這一點。

And we looked at our liquidity, and we had ample liquidity to continue buying back stock and pay a dividend.

我們查看了我們的流動性，我們有充足的流動性來繼續回購股票並支付股息。

And so it's effectively -- we're really excited about where the business is.

所以它是有效的——我們對業務的現狀感到非常興奮。

But we're much more excited about where the business is going and the exit rate on FY24 and just the opportunities in the capital.

但我們更感興趣的是業務的發展方向、2024 財年的退出率以及首都的機會。

And frankly, there's more capital if we want to bring it in.

坦白說，如果我們想引進的話，還有更多的資本。

But right now, we're still sitting on a lot of cash.

但目前，我們仍持有大量現金。

So at the end of the day, we're going to reward shareholders and continue invest in the business.

因此，歸根結底，我們將獎勵股東並繼續投資於業務。

Great.

偉大的。

Thank you very much.

非常感謝。

Eric Wold, B. Riley Securities.

沃爾德 (Eric Wold)，B. 萊利證券。

Thanks, good morning.

謝謝，早安。

So two questions kind of follow up on prior comments.

所以有兩個問題是對之前評論的後續。

Bobby, if you're able to take it I guess on the average of 2% price taken in December, I know you talked about it going in various forms from possible issues during beverage Boeing.

鮑比，如果你能接受的話，我想按照 12 月份平均 2% 的價格計算，我知道你在飲料波音期間以各種形式談論過可能出現的問題。

I guess what drove the decision in each market or each center to make specific pricing?

我想是什麼促使每個市場或每個中心做出具體定價的決定？

Was it either higher or lower?

是更高還是更低？

Was it competitive offering to the market?

它向市場提供的產品是否具有競爭力？

Was it specific trends of that location?

是該地點的特定趨勢嗎？

What drove each decision on the pricing?

是什麼推動了每個定價決策？

Yeah, so we only took retail.

是的，所以我們只接受零售。

So remember retail is a smaller portion of business in December.

因此，請記住，零售業在 12 月的業務中所佔的比例較小。

But the reason we took it was we wanted to test the consumer a little bit and see how much pushback there was and if there was none.

但我們接受它的原因是我們想稍微測試一下消費者，看看有多少阻力以及是否沒有。

So ultimately, we've had a pricing consultant in house for the past six months.

因此，最終，我們在過去的六個月裡聘請了一位內部定價顧問。

And we're really looking at pricing by hour, by day, by center, by products.

我們實際上正在考慮按小時、按天、按中心、按產品定價。

And we saw some low-hanging fruit that we took in December that allowed us to test that change and whether the consumer react negatively to it.

我們在 12 月看到了一些容易實現的目標，這使我們能夠測試這種變化以及消費者是否對此做出負面反應。

They didn't. so now we're pushing it into events.

他們沒有。所以現在我們正在將其推向事件。

And so ultimately, we're going to continue doing it.

所以最終，我們將繼續這樣做。

We have another round of pricing changes coming.

我們即將進行另一輪定價調整。

And those are very exciting because we're coming to the end of this consultant's engagement.

這些都非常令人興奮，因為我們即將結束這位顧問的工作。

There's so much opportunity to be dynamic that the consumer will continue to just spend more and have better product in center.

充滿活力的機會如此之多，以至於消費者將繼續花更多的錢並擁有更好的產品。

Got it.

知道了。

And then the comments around with the promotions, testing different things, seeing what works expanding that, maybe cutting back on why that didn't work.

然後圍繞促銷活動發表評論，測試不同的東西，看看哪些有效，可以擴大範圍，也許可以減少為什麼無效的原因。

Maybe talk about something that hasn't worked as you expected on maybe promotion that kind of promotional activity and what you learned from the ones that didn't work?

也許可以談談在促銷活動中沒有達到您預期的效果，以及您從那些沒有效果的活動中學到了什麼？

Yeah.

是的。

Look, this is Tom.

看，這是湯姆。

I'll take the Mea Culpa.

我會承擔罪責。

So we had Summer Games, which had built up to about $6 million of revenue.

於是我們舉辦了夏季奧運會，收入達到了約 600 萬美元。

Summer Games was like a game out and season pass.

夏季奧運會就像一場比賽和季票。

And business was so strong back in fiscal '23 that I decided to eliminate it in the summer of 2023 because I figure we could just get full price for those games.

23 財年的業務非常強勁，我決定在 2023 年夏天取消它，因為我認為我們可以獲得這些遊戲的全價。

And while there was some offset, there wasn't nearly enough offset to have made it worthwhile to kill that program.

雖然有一些抵消，但還沒有足夠的抵消來值得終止該程序。

So as Lev mentioned, we're going to bring that back.

正如列夫所提到的，我們將把它帶回來。

But that probably -- eliminating that probably cost us an order of $6 million of revenue last summer.

但這可能會導致我們去年夏天損失 600 萬美元的訂單收入。

So that was a pretty good example of something that didn't work that we have learned.

這是一個很好的例子，說明我們學到了一些行不通的東西。

And we're not going to bring it back exactly as it was before we're going to make it better.

我們不會讓它完全恢復到之前的樣子，我們會讓它變得更好。

There'll probably be a wider range of options for the consumer depending on what kind of experience they want.

根據消費者想要什麼樣的體驗，可能會有更廣泛的選擇。

But that was entirely my decision, and it was a wrong decision.

但這完全是我的決定，而且是個錯誤的決定。

Okay.

好的。

Jeremy Hamblin, Craig-Hallum Capital Group.

傑里米·漢布林 (Jeremy Hamblin)，克雷格·哈勒姆資本集團。

Thanks and congrats on the strong results.

感謝並祝賀取得的優異成績。

I wanted to just dial in a little bit more on the Lucky Strike integration and the acceleration of investment in that.

我想多談談 Lucky Strike 的整合以及對此的投資加速。

In terms of thinking about outcomes and rationale, can you just get a little deeper into that in terms of getting the implementation done and the capital investment?

在思考結果和理由方面，您能否在完成實施和資本投資方面更深入地探討一下？

Is this more an opportunity you see driving revenue?

您認為這更像是一個推動收入的機會嗎？

You talked about some of the systems you're bringing in that sounds like they are cost focused as well.

您談到了您引入的一些系統，聽起來它們也很注重成本。

But where do you see more of that opportunity here over the next 12 months?

但在接下來的 12 個月裡，您認為哪裡有更多這樣的機會呢？

Yeah, it's going to be revenue and the cost, right?

是的，這將是收入和成本，對嗎？

So let's talk about the revenue side.

那我們來談談收入方面。

Fenway which does $13 million plus of revenue at $16 million, we think we can put in another 4 to 8.

芬威的收入為 1300 萬美元，加上 1600 萬美元的收入，我們認為我們可以再投入 4 到 8 個。

You can do the math on the magnitude of that; there's always a way.

你可以計算一下它的大小；總有辦法的。

That's the kind of things we're looking at and that we're effectively accelerating.

這就是我們正在關注並且正在有效加速的事情。

On the brand, I'll let Lev talk more about the brand.

關於品牌，我會讓Lev詳細談談這個品牌。

Look, even on the revenue side, I want to point out I've managed our amusements department for the last few years.

聽著，即使在收入方面，我也想指出，過去幾年我一直在管理我們的娛樂部門。

A lot of those locations haven't seen investment into the games in a number of years.

其中許多地點已經很多年沒有對遊戲進行投資了。

We're addressing that.

我們正在解決這個問題。

There are some locations that had no arcades.

有些地方沒有拱廊。

We're addressing that.

我們正在解決這個問題。

And in terms of the brand, I think just -- I personally live in Miami, we have Lucky Strike Miami opening.

就品牌而言，我想，我個人住在邁阿密，我們在邁阿密開設了 Lucky Strike 店。

I visit that center.

我參觀了那個中心。

I see the inbound interest; people are reaching out before we even opened for events and buyouts.

我看到了入境興趣；在我們開始舉辦活動和買斷之前，人們就已經開始聯繫我們了。

We do open calls for hiring events.

我們公開招募招募活動。

It looks like we're giving out free Taylor Swift tickets.

看起來我們正在免費贈送泰勒絲門票。

The line is so long.

隊伍這麼長。

We haven't seen that in any of our property.

我們在我們的任何房產中都沒有看到這種情況。

There is just a lot of demand for this brand, and I think we're going to get better with it.

這個品牌的需求量很大，我認為我們會做得更好。

Our marketing department engage with an agency right now where we're going to develop the Lucky Strike brand identity.

我們的行銷部門現在正在與一家代理商合作，我們將在那裡開發 Lucky Strike 品牌標誌。

And if the results speak for themselves, Lucky Strike Moorpark, the food and beverage sales relative to bowling dollars, some of the highest we've seen, right?

如果結果不言而喻的話，Lucky Strike Moorpark 的食品和飲料銷售額相對於保齡球美元而言，是我們所見過的最高的，對嗎？

So it's just a totally different concept.

所以這只是一個完全不同的概念。

And I think we're really going to lead into that.

我認為我們真的會實現這一點。

And as strong as it was, the Lucky Strike brand, we're just really strong operators and we know which levers to pull now to maximize it.

儘管 Lucky Strike 品牌非常強大，但我們只是真正強大的營運商，我們知道現在應該利用哪些槓桿來最大化它。

Yeah.

是的。

And if you look at just the math, right now, Lucky is operating a little bit better than the low 20s EBITDA margin.

如果你只看數學，現在瑞幸的經營狀況比 20 多歲的 EBITDA 利潤率好一些。

Like there's no reason that that margin couldn't be our corporate wide margin.

就好像這個利潤率沒有理由不能成為我們公司的廣泛利潤率。

Got it.

知道了。

That's helpful.

這很有幫助。

Let's switch to just technology investments.

讓我們轉向技術投資。

You noted that the website is getting updates.

您注意到網站正在更新。

I think it sounds like that's coming here in a couple of months in terms of the refresh you're doing there.

我認為就您在那裡所做的更新而言，這聽起來像是幾個月後就會出現的。

I wanted to just [marry] that also with Moneybowl, and you noted that that's becoming more of an out of center operations.

我想將它與 Moneybowl 聯姻，你注意到這變得越來越偏離中心。

I wanted to see if you could just provide some update there on the technology side and get a little bit deeper.

我想看看您是否可以提供一些技術方面的更新並進行更深入的了解。

Yeah.

是的。

So Moneybowl is still operating in 64 centers.

所以 Moneybowl 仍在 64 個中心運作。

So we haven't increased that yet.

所以我們還沒有增加。

Moneybowl will be relaunching as a loyalty app.

Moneybowl 將作為忠誠度應用程式重新推出。

The company has a third-party loyalty app that has a lot of demand, but it doesn't have a lot of functionality, and that will be rolling out this summer.

該公司有一款第三方忠誠度應用程序，需求量很大，但功能不多，將於今年夏天推出。

Got it.

知道了。

And then last thing just looking ahead over the summer period, you talked about Summer Games and bringing back some of the things you've done before.

最後一件事是展望夏季，你談到了夏季奧運會並回顧了你之前做過的一些事情。

Just wanted to get a sense for -- when you're in an Olympic year like this year and some of the media that you have available within the locations in the center, is that something that in the past, historically, has been a positive or negative for traffic?

我只是想了解一下——當你正處於像今年這樣的奧運會年時，你在中心地點可以使用的一些媒體，在過去的歷史上，是一種積極的東西嗎？還是對流量有負面影響？

And is this something you see as an opportunity maybe to keep people in centers longer?

您是否認為這是一個讓人們在中心停留更長時間的機會？

Anything you got planned around that?

你對此有什麼計劃嗎？

No, this is Lev. I would argue that's a stretch, I don't think that has any bearing on our business.

不，這是列夫。我認為這有點誇張，我認為這對我們的業務沒有任何影響。

But I will tell you what media does -- have a bearing on our business.

但我會告訴你媒體的角色—對我們的業務有影響。

So we bought the PBA in 2019.

所以我們在2019年買了PBA。

Leagues across the country were dwindling.

全國各地的聯賽都在減少。

ROE business you see is strong.

您看到的 ROE 業務很強勁。

It's growing, and it's growing by headcount. it's grown by average price per game, and obviously, revenue.

它正在增長，而且它的人數也在增長。它的成長取決於每場比賽的平均價格，當然還有收入。

So now we have this halo effect that the PBA gives us, right?

那麼現在我們有了 PBA 帶給我們的光環效應，對嗎？

The viewership on our first event for the PBA.

我們 PBA 首場賽事的收視率。

The player's championship was up 17% year over year in January.

1月球員的冠軍數較去年同期成長17%。

I think that property is getting stronger, but we have this flywheel now, and we send our PBA stars into our centers on busy league nights, and we delight and surprise our bowlers.

我認為這個產業正在變得越來越強大，但我們現在有了這個飛輪，我們在繁忙的聯賽之夜將我們的 PBA 球星送到我們的中心，我們讓我們的保齡球手感到高興和驚喜。

That's something that we have at our disposal and we're going to continue to lean into.

這是我們可以使用的東西，我們將繼續努力。

But I think in my growing involvement with the PBA, I think it's all upside.

但我認為，隨著我越來越多地參與 PBA，我認為這都是有利的。

We're trying new things like our core business.

我們正在嘗試新事物，例如我們的核心業務。

But we're trying things with the PBA.

但我們正在嘗試與 PBA 合作。

So this year will be the first ever PBA All-Star Weekend in March.

因此，今年將是 PBA 歷史上第一個三月的全明星週末。

We had a really interesting property in the PBA called the Elite League, this team based.

我們在 PBA 中有一個非常有趣的產業，稱為精英聯賽，以球隊為基礎。

We did one event a year.

我們一年舉辦一次活動。

I attended last year Bayside Bowl.

我去年參加了海灣碗。

It was electric.

這是電動的。

So we said, why shouldn't we do this more?

所以我們說，為什麼我們不該多做一點呢？

We're going to have five events for the league this season, and we're going to continue to grow the casual viewership to that property and more awareness around bowling in our centers as a result.

本賽季我們將舉辦五場聯賽賽事，我們將繼續增加該場地的休閒觀眾數量，從而提高我們中心保齡球的知名度。

That's more of the media that we're focused on.

這更多是我們關注的媒體。

Great.

偉大的。

Super helpful.

超有幫助。

Best wishes, guys.

最好的祝愿，夥計們。

Thanks.

謝謝。

Thank you.

謝謝。

Michael Kupinski, NOBLE Capital Markets.

邁克爾·庫平斯基 (Michael Kupinski)，NOBLE 資本市場。

Thank you, and thank you for taking my questions and congratulations on the quarter.

謝謝您，感謝您回答我的問題並對本季表示祝賀。

I want to go back to the increase in payroll in the quarter.

我想回到本季薪資的成長。

I know last year you indicated that you were tweaking some of your staffing levels.

我知道去年您表示正在調整一些人員配置等級。

And I was just wondering if you can give us a sense of where you are today in terms of your goals and in terms of center staffing levels.

我只是想知道您能否讓我們了解一下您今天的目標和中心人員配置水平。

Hi, Michael, Tom Shannon.

嗨，邁克爾，湯姆·香農。

So as Bobby mentioned, last March, we gave all of our management staff in the field increases in salary that ranged from 12% to 17.5%.

正如 Bobby 所提到的，去年 3 月，我們給所有現場管理人員加薪了 12% 到 17.5%。

And we view that really as a one-time market adjustment.

我們認為這確實是一次性的市場調整。

So we're going to lap that in short order, which will make the payroll comp much easier.

因此，我們將在短時間內完成這項任務，這將使薪資計算變得更加容易。

We did that with the goal of reducing turnover and increasing guest satisfaction, and both have been achieved.

我們這樣做的目的是減少營業額和提高客人滿意度，而這兩個目標都已經實現了。

We dramatically reduced manager turnover, which was really important as the company continues to grow.

我們大幅減少了經理的流動率，這對公司的持續發展非常重要。

We need to retain managers and develop them for future leadership roles.

我們需要留住管理者並培養他們擔任未來的領導角色。

We added about 25 locations last year.

去年我們新增了約 25 個地點。

We continue to be ambitious in our growth plan.

我們繼續雄心勃勃地實施我們的成長計劃。

And you need a stable and experienced group of managers to get you there, and that's what we achieved.

您需要一支穩定且經驗豐富的管理團隊來幫助您實現這一目標，而這正是我們所取得的成就。

We also -- excuse me -- saw meaningful increases in net promoter score results, which was the other part of the goal.

對不起，我們也看到淨推薦值結果顯著增加，這是目標的另一部分。

So we're about to lap that.

所以我們即將完成它。

On the hourly side, there are a lot of tweaks with the model other than getting the allocations between some of the back-of-the-house and front-of-the-house functions correct.

在每小時方面，除了正確分配一些後台和前台功能之外，模型還進行了許多調整。

So as we go deeper to the data, we find disconnects where we are running, for example, too much mechanics, labor, and not enough server labor.

因此，當我們深入研究數據時，我們會發現我們運行的地方存在脫節，例如機械師、勞動力過多，而伺服器勞動力不足。

And that's really a function of how bowling centers had been run since the beginning of time.

這實際上是保齡球中心自誕生以來的運作方式的功能。

And so going in and now, using the data we have at our fingertips to really make the most informed and rational decisions with regard to allocations of labor within the center I think will have a meaningful impact going forward.

因此，現在，利用我們觸手可及的數據，真正就中心內的勞動力分配做出最明智、最合理的決策，我認為這將對未來產生有意義的影響。

I can't quantify it, but I think it will be pretty substantial.

我無法量化它，但我認為這將是相當可觀的。

Thanks for that color.

謝謝那個顏色。

All my other questions have been addressed.

我的所有其他問題都已解決。

Thank you so much.

太感謝了。

Thank you.

謝謝。

Accel HOUSING, Oppenheimer.

加速住房，奧本海默。

Hey, good morning.

嗨，早安。

It's (inaudible) for Ian.

這是（聽不清楚）給伊恩的。

Thanks for taking the question, most have been pretty much answered.

感謝您提出問題，大多數問題已經得到了答案。

But a follow up on the event business, looks like it continues to be very strong.

但活動業務的後續行動看起來仍然非常強勁。

How much of that strength is driven by corporate demand versus birthday parties other than et cetera.

這種力量在多大程度上是由企業需求和生日派對等因素所驅動的。

I guess is there more room for upside as far as the corporate for that recovery?

我想就公司的復甦而言，還有更多的上升空間嗎？

Thank you.

謝謝。

It's going to keep going.

它會繼續下去。

I mean, it's both corporate and family.

我的意思是，這既是公司也是家庭。

I mean, we saw significant strain on the corporate side in December.

我的意思是，我們在 12 月看到了企業方面的巨大壓力。

And through January, despite the weather, we're still seeing a good ramp on birthday parties and family events.

整個一月份，儘管天氣不好，我們仍然看到生日派對和家庭活動的數量大幅增加。

So we are the beneficiary of trade down in this dynamic where we're not too expensive that is something that like a corporate can't do anymore or enough of a premium product that its place you'd be willing to bring your employees.

因此，我們是這種動態中貿易下降的受益者，我們的價格不太貴，就像一家公司不能再做的事情，或者你願意為員工帶來足夠的優質產品。

And so we're definitely seeing a benefit that we always do well with birthday party.

因此，我們肯定看到了我們一直在生日派對上做得很好的好處。

Okay, great.

好的，太好了。

And then just on the pricing, I guess you mentioned the 2% on event in January.

然後就定價而言，我想您提到了 1 月份活動的 2%。

I guess does guidance assume any more incremental price increases in the back half of the year, or you just will -- will you continue to be flexible and adjust with demand as you move through the year?

我想指導意見是否假設下半年價格會出現更多增量上漲，或者您會繼續保持靈活性，並在今年的過程中根據需求進行調整？

It does not assume any more price increases.

它不假設價格會進一步上漲。

Okay, great.

好的，太好了。

Thank you very much.

非常感謝。

There are no further questions.

沒有其他問題了。

This concludes today's conference call.

今天的電話會議到此結束。

Thank you for your participation.

感謝您的參與。

You may now disconnect.

您現在可以斷開連線。