Figma Shares Indicated To Open $105/$110
DALLAS - Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) has promoted Les Lehner to Chief Development Officer, the company announced Friday.
Lehner, who previously served as Chief Procurement Officer and Head of Main Event Development, will succeed John Mulleady, who is retiring effective October 23, 2025. Mulleady will transition to an advisory role on June 30 before providing consulting services to the company from his retirement date until January 31, 2026.
"During his tenure, he achieved remarkable results, leading the successful construction of over 100 new stores," said Kevin Sheehan, Board Chair and Interim Chief Executive Officer, regarding Mulleady’s nearly 15 years with the company.
Lehner joined Dave & Buster’s in August 2022 following the company’s acquisition of Main Event Entertainment, where he served as Executive Vice President, Chief Development and Procurement Officer from 2018 to July 2022. His prior experience includes senior development and procurement roles at Red Robin Gourmet Burgers and CEC Entertainment.
The company stated it has a pipeline of approximately 40 stores expected to open over the next three years.
Dave & Buster’s currently operates 236 venues across North America under two brands: 175 Dave & Buster’s locations in 43 states, Puerto Rico, and Canada, and 61 Main Event branded stores in 22 states.
The information in this article is based on a company press release statement.
In other recent news, Dave & Buster’s Entertainment Inc. reported first-quarter results that did not meet analyst expectations, with adjusted earnings per share at $0.76 and revenue totaling $567.7 million, both below consensus estimates. The company experienced an 8.3% decrease in comparable store sales, attributing this to marketing and operational missteps. Despite these figures, analysts have shown optimism about the company’s future. Loop Capital’s Alton Stump reiterated a Buy rating and increased the price target to $46, citing improving trends. UBS and Truist Securities also raised their price targets to $29, while BMO Capital increased its target to $35, highlighting early successes in the company’s "Back to Basics" strategy. Dave & Buster’s has seen sequential improvements in comparable sales, with a decline narrowing to just 2.2% in the early second quarter. The company has maintained its guidance for fiscal year 2025, including plans for 10-12 new unit openings. Analysts have noted that the company’s strategic changes could lead to positive same-store sales in the near future.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.