2024-06-13 08:47:38 ET
Summary
- Dave & Buster's Q1 results show continued comparable sales weakness, leading to a wide revenue and EPS miss.
- The long-term growth story still continues with new store openings in the quarter.
- The Main Event acquisition has been integrated well with Dave & Buster's having very healthy margins despite recent sales weakness.
- The valuation has moderate upside, but I initiate the stock at Hold due to sales uncertainties.
Dave & Buster’s Entertainment, Inc. ( PLAY ) operates entertainment and dining venues, offering arcade games and live sports watching among other entertainment. The company recently reported its Q1 results on the 13 th of June prior to market openings, posting a wide miss for both revenues and EPS. The stock has reacted negatively in the post-market, being at nearly -12% at the time of writing....
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Dave & Buster's: Sales Challenges Persist In Q1, But Store Growth Continues