Issue Date: Vol. 51, No. 1, January 2011, Posted On: 12/23/2010
Dave & Buster's Sees Flat Third Quarter
Dave and Buster's Inc., Dave & Buster's fourth quarter, Steve King, vending news, arcade, amusement business, arcade games, coin-op news, Oak Hill Capital Partners
DALLAS, TX -- Dave & Buster's Inc., said gross revenues dropped half a percent during its third quarter ended Oct. 31, 2010. The financial report said total revenues decreased 0.5% to $116.6 million for the quarter, compared with $117.2 million in Q3 2009. Total food and beverage revenues decreased 1.6%, while revenues from amusements and “other” decreased 0.6%.
The year-over-year revenue decline was driven by a 1.3% decline in comparable store sales and the loss of $2.3 million in revenues associated with the flood-related closure of the D&B’s store in Nashville, TN.
Officials said the revenue declines were partially offset by a $3.1 million increase in revenues from non-comparable stores and other revenue sources.
CEO Steve King said the chain is seeing stronger casual and special events business and that early fourth-quarter results were encouraging.
Founded in 1982, Dave & Buster's owns and operates 57 entertainment restaurants located in 24 states and Canada.