PLAY - Why did Dave & Buster's stock surge on Tuesday? Management outlines cost cuts
2023-06-13 16:02:14 ET
Dave & Buster’s ( NASDAQ: PLAY ) shares popped to an over 20% gain at its high on Tuesday after management informed investors about a plan to kickstart sales and trim costs.
Newly-minted CEO Chris Morris highlighted store remodels, menu updates, and the potential to flex pricing power to offset higher costs. A plan to attract more events is also expected to attract customers and cement more interest among adult consumers. As menus are revamped, an appreciation for food offerings is also likely to increase traffic to locations.
In another key presentation on the day, CFO Michael Quartieri said the chain could save up to $15M by updating technology and reducing labor costs. Shares of Dave & Buster’s ( PLAY ) rose 19.22% on Tuesday.
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Why did Dave & Buster’s stock surge on Tuesday? Management outlines cost cuts