Dave & Buster's Stock Falls On Worse-Than-Expected Q1 Results: The Details
Portfolio Pulse from Erica Kollmann
Dave & Buster's Entertainment Inc. (NASDAQ:PLAY) shares fell after the company reported worse-than-expected Q1 results. The company missed analyst estimates for both earnings and sales, with earnings per share at $1.12 versus the expected $1.70, and sales at $588.1 million versus the expected $621.26 million. Comparable store sales also decreased by 5.6%. Despite these setbacks, the company opened four new stores and continues to focus on organic growth initiatives and share repurchases.
June 12, 2024 | 8:18 pm
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Dave & Buster's Entertainment Inc. (NASDAQ:PLAY) reported Q1 earnings and sales that missed analyst estimates, leading to a 9.24% drop in share price. The company reported earnings per share of $1.12, missing the consensus estimate of $1.70, and sales of $588.1 million, missing the estimate of $621.26 million. Comparable store sales decreased by 5.6%. Despite these results, the company opened four new stores and continues to focus on growth initiatives and share repurchases.
The significant miss on both earnings and sales estimates, along with a decrease in comparable store sales, has led to a sharp decline in the stock price. The company's efforts in opening new stores and focusing on growth initiatives may provide long-term benefits, but the immediate impact is negative.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100