Dave & Buster's Stock Falls On Worse-Than-Expected Q1 Results: The Details - Dave & Buster's Enter (NASDA

　　Dave & Busters Entertainment Inc. PLAY shares are falling after the company reported its first-quarter financial results Wednesday. Here's a look at the key figures from the report.

　　The Details:Dave & Busters reported quarterly earnings of $1.12 per share which missed the analyst consensus estimate of $1.70 by 34.12% and represented a 22.76% decrease from earnings of $1.45 per share from the same period last year.

　　Quarterly sales clocked in at $588.1 million which missed the analyst consensus estimate of $621.26 million by 5.34% and represented a decrease from sales of $597.30 million from the prior years quarter. Comparable store sales decreased 5.6% compared with the same calendar period in 2023.

　　The company opened three new Dave & Busters stores and one new Main Event store in the first quarter.

　　“We continue to make material progress advancing our key organic growth initiatives. We have seen meaningful success growing our loyalty database through our new marketing engine, highlighting our enhanced food and beverage offering through compelling promotions, refining our games pricing strategy, driving incremental special events and clear outperformance in our remodel initiative which we expect will lead to substantial improvement in revenue and profitability over the medium term,” said Chris Morris, Dave & Busters CEO.

　　“We also continued to open new stores at highly attractive returns on our investment and have continued to opportunistically return capital to shareholders via our share repurchase program in a highly accretive manner”

　　PLAY Price Action:According to Benzinga Pro, Dave & Busters shares are down 9.24% after-hours at $45.70 at the time of publication Wednesday.

　　Image: Courtesy of Dave & Busters Entertainment, Inc.

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