Dave and Buster's Inc., Steve King, amusement business, arcade games, coin-op news, Oak Hill Capital Partners
DALLAS -- Dave & Buster's Inc. said it lost $9.5 million on revenues of $127.9 million in the second quarter of its fiscal year, ended Aug. 1. Amusement sales were up by 1%, but food and beverage revenues decreased 1.2%.
Total revenues were down 2.7%, compared with the second quarter of 2009, despite D&B's expanding its chainwide footprint from 55 stores to 58. Comparable store sales fell 4.8% for the quarter. Contributing to D&B's negative performance was a $2.5 million loss resulting from the closing of a flooded store in Nashville, TN.
D&B's chief executive Steve King said recent trends are encouraging, including a boost in beverage sales triggered by extended happy hour pricing.
D&B's, a privately held company, was acquired by Oak Hill Capital Partners in June, but continues to manage publicly held debt.