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Joe Hope
Ten Entertainment Group Inc said on Wednesday that its total sales growth in the first half of the year increased compared with pre-pandemic levels and expected its full-year results to exceed current expectations.
The UK-based bowling and entertainment centre operator said its total sales rose 52.6% in the 26 weeks to June 26 compared to the same period in 2019. Record sales in mid-February, the Easter holiday and the May 1st Bank holiday both contributed to sales growth, and customer demand has remained consistent.
Compared with the same period in 2019, sales increased by 46.0% year-on-year, higher than the 30.3% growth in the second half of 2021.
The company also reported a 19.5% increase in sales in the six weeks since May 16 compared to the weeks it reopened in 2021.
10 said it had previously offset inflationary pressures despite broader macroeconomic uncertainty and was confident it was manageable under its business model. It expects its sales to ease slightly in the second half but continue to deliver record growth that exceeds current expectations, although it did not provide figures.
Write to Joe Hope at joseph.hoppe@wsj.com
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