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Dave & Buster's (PLAY) Beats Q1 Earnings & Revenue Estimates, CEO Retires

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Dave & Buster's (PLAY - Free Report) just released its first-quarter financial results, posting adjusted earnings $1.04 per share and revenues of $332.19 million.

Shares of Dave & Buster's sunk over 33% during the last year. However, the company’s stock price is up 15% over the last four weeks. The company’s stock also popped 0.44% on Monday to hit $47.83 per share prior to the release of its quarterly earnings results.

Dave & Buster's stock is currently up 16.08% to $ 55.52 per share in after-hours trading shortly after its earnings report was released.

PLAY:

Beat earnings estimates. The company posted adjusted earnings of $1.04 per share, crushing the Zacks Consensus Estimate of $0.93 per share.   

Beat revenue estimates. The company saw revenue figures of $332.19 million, beating our consensus estimate of $322.27 million.

Dave & Buster's saw its quarterly revenues climb by roughly 9.2% from $304.15 million in year-ago period. Meanwhile, the restaurant and arcade chain’s comparable store sales sunk by 4.9%. In the same quarter last year, the company’s comp sales popped 2.2%.

Dave & Buster's also announced the retirement of CEO Stephen King, effective August 5. Current CFO Brian Jenkins will take over as CEO. “We opened six stores during the quarter, our fastest pace so far, and these openings include a few that have delivered some of the highest volume openings in our history.” King said in a statement.

“The upcoming launch of our proprietary virtual reality platform, and the new 100% Angus Butcher’s Blend burger are just two examples of improvements in our overall offering.”

Here’s a graph that looks at PLAY’s Price, Consensus and EPS Surprise history:

Check back later for our full analysis on PLAY’s earnings report!

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