PLAY - Dave & Buster's trades lower after making acquisition into consumer spending headwinds

Dave & Buster's Entertainment (PLAY -7.8%) traded lower on Wednesday after investors showed some trepidation over the company's decision to buy Main Event Entertainment for $835M. "Given the discretionary nature of the category, we were surprised the company chose to move forward with a transaction during a period of rising uncertainty around the forward trajectory of consumer spending and the broader economy," noted Stifel analyst Chris O’Cull on the M&A development. Looking ahead, Dave & Buster's Entertainment (NASDAQ:PLAY) expects the acquisition to stoke more earnings growth and it is targeting cost savings of $20M within the first two years from the consolidation of store support centers and supply chain efficiencies. Main Event is an operator of about 50 locations across the U.S. that host events ranging from birthday parties to corporate outings with options that include bowling, laser tag and arcade games. Shares of Dave & Buster's (PLAY) drifted to

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Dave & Buster's trades lower after making acquisition into consumer spending headwinds