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DALLAS - Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) saw its shares gain 2.8% after the entertainment and dining venue operator reported fourth quarter results that provide a challenging comparison to the prior year.
The company reported Q4 revenue of $534.5 million, down 10.8% from $599.1 million in the same quarter last year and below the consensus estimate of $549.05 million. Comparable store sales decreased 9.4% compared to the same period last year.
Adjusted earnings per share came in at $0.69, missing analyst estimates of $0.72. Net income totaled $9.3 million or $0.24 per diluted share, down from $36.2 million or $0.88 per diluted share in Q4 2023.
"While we are disappointed by our results in the fourth quarter, we are very encouraged by the clear opportunities we have identified over the past few months and the most recent trends in the business since taking actions to unwind mistakes and make appropriate changes," said Kevin Sheehan, Board Chair and Interim Chief Executive Officer.
For fiscal 2025, Dave & Buster's expects total capital expenditures of less than $220 million and pre-opening expenses of approximately $20 million. The company projects cash interest expense between $130 million to $140 million.
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