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PLAY - Dave & Buster's: Dilutive Raises To Weigh On Earnings Growth
Dave & Buster's Entertainment Inc.
It's been a challenging first half of 2020 for the restaurant industry, and one of the hardest-hit names has been Dave & Buster's (PLAY) with a reliance on foot traffic and a dine-in model to drive its sales. The company announced its second-quarter results on Friday and reported revenue down 85% year over year, and comp-store sales down 87%, a deceleration in both metrics from the Q1 results. Unfortunately, while many restaurants are finally starting to open up, Dave & Buster's presence in California and New York will continue to be a headwind.