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CEC ENTERTAINMENT INC. /Irving, Texas Little Competition? Yes, But Firm Stays Hungry.(THE NEW AMERICA)
Byline: Robin M. Grugal
Chuck E. Cheese's might have the market cornered when it comes to kids' indoor fun zones -- particularly since rival Discovery Zone called it quits twoyears ago.
But is that enough to keep kids and their parents coming back?
CEC Entertainment Inc., Chuck E. Cheese's parent company, isn't waiting around to find out. The way company officials see it, settling for the status quo won't result in 20% to 25% annual earnings growth over the long haul.
"Two years ago, those (Discovery Zone) closures boosted (CEC's) sales to a great extent," said Lynn Detrick of Sanders Morris Mundy.
"Today, it still benefits from not having a competitor in the market. But itis the entertainment factor that is going to continue to drive traffic to the stores -- so it has been trying to upgrade, to reduce the chance of a veto."
Remodeling
- CEC Entertainment Won't Acquire Discovery Zone FunCenters in New Jersey.
- Newspaper article from: Knight Ridder/Tribune Business News DeMarrais, Kevin G. June 30, 1999 700+ words
...News Jun. 30 -- CEC Entertainment Inc...19 million for 20 Discovery Zone FunCenters, but...executive said Tuesday. CEC announced Friday...owned or leased by Discovery Zone Inc. and convert...Huston said. He said CEC would attempt to reschedule the Discovery Zone ...
- CEC Completes Acquisition of Discovery Zone Assets.
- Press release article from: PR Newswire July 28, 1999 700+ words
...PRNewswire/ -- CEC Entertainment, Inc. (NYSE: CEC) today announced...certain assets of Discovery Zone, Inc., a nationwide...assets acquired by CEC include 13 owned properties...previously operated as Discovery Zone Fun Centers, two...
- Discovery Zone Fun Center in Amherst, N.Y., Closes.
- Newspaper article from: Knight Ridder/Tribune Business News Linstedt, Sharon July 1, 1999 700+ words
...The Williamsville Discovery Zone, like its sister operations...While the deal with CEC will not be finalized...conversion," the CEC executive added. It is also possible that CEC will eventually reopen Discovery Zone under its old name...
- Closure of Modesto, Calif., Discovery Zone Ensnares Pizzeria.
- Newspaper article from: Knight Ridder/Tribune Business News Jardine, Jeff June 28, 1999 700+ words
...not own the Discovery Zone. It is not managed by the CEC Entertainment...closed by the Discovery Zone since April...spokesman for CEC Entertainment...encourage the former Discovery Zone employees to...Rice said CEC Entertainment...
- Newport News, Va.-Area Discovery Zone Closing Surprises Party-Goers.
- Newspaper article from: Knight Ridder/Tribune Business News Dujardin, Peter June 29, 1999 700+ words
...stores on Thursday. CEC Entertainment, the company that owns Discovery Zone competitor Chuck E...Cheese's. But a CEC company spokeswoman said...She could not say why CEC is not interested in...the birthday room at Discovery Zone. On June 10, she went...
- Discovery Zone Store in Memphis, Tenn., Closes Suddenly.
- Newspaper article from: Knight Ridder/Tribune Business News Banerji, Ruma June 25, 1999 700+ words
...Thursday. Executives at Discovery Zone headquarters in Elmsford...Irving, Texas-based CEC Entertainment, which...president of marketing for CEC Entertainment, said...re not involved in Discovery Zone's operations." The...
- Discovery Zone Corporate Employees in Elmsford, N.Y., to Lose Jobs.
- Newspaper article from: Knight Ridder/Tribune Business News Banerji, Ruma July 1, 1999 700+ words
...Tribune Business News Jul. 1 -- Discovery Zone Inc. released a statement Wednesday...certain assets for $19 million to CEC Entertainment Inc. Friday and...the company said. The Memphis Discovery Zone at 3684 Ridgeway was one of the...
- CEC Entertainment Announces Record Earnings.
- Press release article from: PR Newswire October 25, 1999 700+ words
...Oct. 25 /PRNewswire/ -- CEC Entertainment, Inc. (NYSE: CEC) today announced record earnings...quality real estate sites from Discovery Zone and from an operator in Minneapolis...and operated by the Company. CEC ENTERTAINMENT, INC. RESULTS...