Why Dave & Buster’s Entertainment Stock Is Tumbling Wednesday
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Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) shares are trading lower Wednesday after the company reported worse-than-expected financial results for the third quarter and announced a CEO transition. Multiple analysts downgraded the stock following the print.
- Q3 Revenue: $453 million, versus analyst estimates of $563.6 million
- Q3 Adjusted EPS: Loss of 45 cents, versus estimates of 90 cents
Total revenue decreased 3% year-over-year and comparable store sales fell 7.7% year-over-year. Dave & Buster’s ended the quarter with $8.6 million in cash and $537.4 million of availability under its $650 million revolving credit facility.
The company also announced that CEO Chris Morris resigned to pursue other …
Full story available on Benzinga.com
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