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2d ago

Dave & Buster's Shares Drop 15% After Q2 Miss, Same-Store Sales Down 3%

Management points to cash reserves plus international openings to support a guest-first turnaround.

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Overview

  • Revenue came in at $557.41 million versus the $562.78 million consensus, and adjusted earnings were $0.40 per share versus $0.92 expected.
  • Comparable-store sales fell 3% as total revenue held roughly flat year over year.
  • The stock fell about 15% in after-hours trading to $20.50 following the results.
  • The company reported $34 million in operating cash flow and ended the quarter with $443 million of available liquidity.
  • Dave & Buster's opened three stores in the quarter and one after quarter-end and expects at least five international franchise openings in the next six months, as new CEO Tarun Lal stresses a guest-first focus.