Issue Date: Vol. 50, No. 7, July 2010, Posted On: 6/20/2010
D&B's Q1 Comp Store Sales Fall, Revenues Rise
Dave & Buster's, Dave & Buster's first quarter, Dave & Buster's FTC settlement, Dave & Buster's credit card fraud, Steve King, Oak Hill Capital Partners
DALLAS -- Dave & Buster's Inc. said comparable store sales fell 2.5% for the fiscal first quarter, ended May 2, compared with the first quarter of 2009. Total revenues increased 2.3% to $141.6 million. Total food and beverage revenues increased 0.5% for the quarter, while revenues from "amusements and other" increased 4.1%.
Chief executive Steve King said underlying sales trends for the quarter improved, compared with the prior year, despite harsh February weather that hurt East Coast sales. Special events business growth across the chain was particularly encouraging, King said.
Founded in 1982, D&B's owns and operates 57 restaurant and entertainment stores in 24 states and Canada. D&B's team and Oak Hill Capital Partners closed on a deal in early June to buy the chain from Wellspring Capital Management LLC for $570 million. See story.