Dave & Buster's Drops 13% After Q2 Revenue Miss and 2.9% Same-Store Sales Decline
Updated
Updated · CNBC · Sep 15
Dave & Buster's Drops 13% After Q2 Revenue Miss and 2.9% Same-Store Sales Decline
3 articles · Updated · CNBC · Sep 15
Summary
Dave & Buster's fell more than 13% in premarket trading after missing Wall Street estimates on both revenue and earnings in its latest quarter.
Same-store sales dropped 2.9%, a weaker consumer signal that added to the earnings miss, even though the decline was slightly better than the 3.4% drop some investors had feared.
The selloff reflects concerns that the chain raised prices too aggressively, lost some of its appeal and remains burdened by heavy debt.
The move extends a sharper earlier slide tied to disappointing Q2 results, including an unexpected adjusted loss and revenue of $544.1 million versus a $556.8 million estimate.