PLAY - Dave & Buster's guides Q4 revenue above consensus

Dave & Buster's Entertainment (PLAY) expects Q4 revenue n the range of $98M-$102M vs. consensus of $88.13M. The company's reports preliminary holiday sales of $69.4M, reflecting a 75% decline in comparable store sales with EBITDA loss of $22M and weekly cash burn rate of $3.7M.As of January 3, 2021, the company had ~$12M in cash and equivalents and $277M of availability under its revolving credit agreement.Due to renewed operating restrictions imposed by local jurisdictions during November and December in response to the COVID-19 resurgence, the company had 89 stores open as of January 3, or ~65 percent of its total store base. The company currently expects more than 100 stores to be open by mid-January, continuing through the end of the quarter and 27 stores in California and New York to remain closed for the remainder of the quarter. Chief Executive Officer Brian Jenkins concluded, “Despite the temporary setback we are experiencing

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Dave & Buster’s guides Q4 revenue above consensus