Bowling-themed chain in nine states makes major shake-up as CEO admits to ‘beefed up’ activities to lure customers

A major restaurant chain specializing in bowling confirmed changes in some of its operations after a decline in sales.

Customers can expect to find more activities to participate in while enjoying some of their favorite foods and drinks.

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It's no secret that elevated “entertainment” has become very popular with American consumers over the past several years.

Dining and Entertainment is a dining experience that combines entertainment.

Some prime examples are bowling alleys, mini golf venues, and movie theaters.

Pinstripes has been part of this mission by focusing on bowling and bocce along with the dining experience.

The company was founded by current President and CEO Dale Schwartz in 2006, with its first and flagship location opening in Chicago a year later.

It has 18 bowling alleys, 12 bocce courts, a wine cellar, a bistro, a bar and a party area.

In 2024, Pinstripes will have 18 locations in nine states, with the latest opening on November 15 in Walnut Creek, California, about 25 miles northeast of downtown San Francisco.

While Pinstripes continues to expand with at least four new openings planned for 2025, Schwartz said sales are suffering amid inflation and economic changes.

Power through

“Consumer wallets continue to be under pressure, and we are seeing this most clearly in our open business, which was down approximately 13% year over year in the second quarter, while our events business was only down approximately 6%,” he noted in a statement. November earnings call.

Pinstripes reported a net loss of $9.3 million for the second quarter ended October 13, compared to a loss of $7.7 million during the same period in 2023.

Revenue also was $26.5 million, up from $24.6 million in last year's second quarter.

In response, Schwartz emphasized significant changes, including more “enhanced” activities beyond the bowling and bocce ball that have seen some success at Pinstripes locations.

“Our in-store marketing campaigns have seen exciting success as we have introduced activities such as kids clubs, comedy nights, dancing, yoga classes, trivia nights, and many other community activities that complement our food, beverage and gaming offerings,” Schwartz assured investors. .

With this in mind, all 18 sites are likely to adopt this format to bring in sales for the brand.

Introductory promise

Schwartz said the Walnut Creek location was moving in the right direction after its grand opening last month.

It offers customers “eight bowling lanes, two indoor bocce courts, and private event space for groups of up to 1,500 people,” according to the CEO.

In total, the two-level location is about 25,000 square feet, similar to other Pinstripes, with a maximum of 38,000 square feet.

“Our opening to date has been very promising, and our initial bookings for private events have been very strong, complementing the continued success of our San Mateo location,” Schwartz noted.

The company has about $3.2 million in cash and expects “significant positive cash flow” amid the holiday season, the CEO said.

He also said on the earnings call that Pinstripes was in the middle of seeking “additional external capital, which could include financing from new external sources, as well as additional funds from our existing lenders.”

Pinstripes CFO Tony Querciagrossa confirmed that the company will succeed “through most of Calendar 25” in its current financial position.

Many other restaurant chains are also expanding.

A pickleball-themed restaurant is opening more locations throughout the West and promises an upscale experience for guests.

Baseball fans are also losing out on a Topgolf-style baseball simulation venue called BatBox, which is seeking to open multiple locations nationwide soon.