Why Dave & Buster's Stock Is Trading Higher Today

Dave & Buster's Entertainment Inc PLAY shares are trading higher Tuesday after the company reported better-than-expected financial results.

Dave & Buster's said first-quarter revenue increased 24.1% from the first quarter of 2019 to $451.1 million, which beat the estimate of $440.84 million, according to data from Benzinga Pro. Total comparable sales increased 10.9% over 2019 levels. 

The company reported quarterly earnings of $1.35 per share, which beat the estimate of $1.16 per share. 

"While we are still experiencing pressures from wage and commodity inflation, our margins continued to improve as we have offset inflationary costs with a more efficient labor model, costs savings and efficiencies and thoughtful pricing actions," said Michael Quartieri, CFO of Dave & Buster's.

Through the first five weeks of the second quarter, the company said its comparable sales have increased 12.2% from the same period in 2019.

See Also: Morning Brief: Top Financial Stories Dominating on Tuesday, June 7

PLAY Price Action: Dave & Buster's has traded between $29.83 and $52.53 over a 52-week period.

The stock was up 6.03% at $39.50 at time of publication.

Photo: courtesy of Dave & Buster's.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsSmall CapMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!