Dave & Buster's Issues Upward Revision Of FY 2018 Financial Outlook

Posted On: 1/28/2019

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DALLAS -- Dave & Buster's Entertainment has updated its guidance for the company's fiscal 2018 (ends on Feb. 3, 2019). Fourth-quarter and full FY 2018 results will be reported in early April.

Based on quarter-to-date performance, Dave & Buster's anticipates that its comparable same-store sales for the fiscal fourth quarter will grow 1.8% to 2.5%. For the full year, comparable store sales are expected to decrease 1.9% to 1.7%, compared with prior guidance of a low single-digits decrease.   

For fiscal 2018, total revenues are expected to range from $1.259 billion to $1.263 billion, compared with prior guidance of $1.243 billion to $1.255 billion. Net income for fiscal 2018 is expected to range from $112 million to $114 million, up from  prior guidance of $106 million to $113 million. The effective tax rate is projected to be approximately 22%, unchanged from prior guidance.

Earnings before interest, tax, depreciation and amortization for fiscal 2018 are expected to range from $276 million to $278 million, compared with prior guidance of $268 million to $277 million.

"We remain laser-focused on our strategic priorities to drive comparable store sales, including evolving our offering, improving the guest experience, and more effectively communicating our news and value," said D&B chief executive Brian Jenkins. "I'm pleased with the progress our team made throughout the year, as we continue to evolve the brand, resulting in the return to positive comparable-store sales in the fourth quarter.

"Meanwhile, new stores continue to deliver excellent returns," Jenkins continued. "With their first year now completed, we are excited to report year-one cash-on-cash returns of approximately 64% for our 2017 class of stores, one of our best in recent history.

"Opening new stores with outstanding returns remains a key priority, and we are maintaining our plan to open 15 to 16 new stores in fiscal 2019," he concluded.

Dave & Buster's Entertainment, Inc., which was founded in 1982, owns and operates 121 venues in North America that combine entertainment and dining to offer customers the opportunity to "Eat Drink Play and Watch" in a single location. Its stores offer a full menu of entrees and appetizers, a complete selection of alcoholic and non-alcoholic beverages, and an extensive assortment of entertainment attractions centered around playing games as well as watching live sports and other televised events.

Dave & Buster's currently has stores in 39 states, Puerto Rico and Canada.