PLAY - Why Dave & Buster's Stock Jumped 15% Today
Dave & Buster's (NASDAQ: PLAY) outgained a rising market on Thursday as its share price jumped 15% by 3 p.m. ET compared to a 2.2% surge in the S&P 500. That rally was enough to put the restaurant and entertainment chain back into positive territory for 2022, even as the wider market is down about 15% since early January.
Dave & Buster's stock benefited from a few earnings reports that suggested resilience on the part of consumers. In Macy's fiscal Q1 report, which it delivered before the market opened, it announced a 13% spike in comparable-store sales paired with strong profitability. The department store giant affirmed its prior sales guidance and boosted its earnings outlook, which suggests shoppers are still spending freely despite inflation and rising interest rates.
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Why Dave & Buster's Stock Jumped 15% Today