PLAY - Dave & Buster's unveils store reopening updates

Dave & Buster's Entertainment (PLAY) has reopened ~98 of its store and opened one new store driving sales recovery in Q3.Comparable store sales have steadily improved during Q3 improved from -87% in Q2 and -75% in August and -62% in September.  In August, 84 stores were open at the end of the month, of which 68 stores were comparable stores and performed at an index of 46% Y/Y levels. In September, 99 stores were open at the end of the month, of which 81 stores were comparable stores and performed at an index of 65% Y/Y levels, excluding 5 open stores where governments have not permitted arcades to open.The company estimates EBITDA breakeven point can be achieved with revenue at 50-55% of 2019 sales.As of October 4 the Company had $197M in cash and equivalents and ~$744M outstanding under its credit facility.Shares are up 2% PM.Press Release

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Dave & Buster’s unveils store reopening updates