Dave & Buster's earnings not as bad as feared
Published: Dec. 10, 2020 at 4:25 p.m. ET
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Dave & Buster's Entertainment Inc. reported a smaller loss than expected, while its third-quarter revenue was roughly in line with analysts' consensus.
The company logged a $48 million loss, or $1.01 a share, in the three months ended Nov. 1, whereas profit a year ago was $482,000, or 2 cents a share. According to FactSet, analysts were expecting a loss of $1.11 a share.
Revenue fell 64% to $109.1 million. Analysts were expecting $109.4 million.
Dave & Buster's said 104 of its stores were open at the start of November. Sixty-eight stores had positive store-level earnings before interest, taxes, depreciation and amortization for the third quarter, Chief Executive Brian Jenkins said in prepared remarks.