by Dean Seal
Dave & Buster Entertainment Inc. said its fiscal first quarter sales and earnings improved significantly compared to the same period a year ago and topped pre-2019 levels.
The Dallas-based entertainment and dining chain posted a profit of $67 million, or $1.35 per share, for the quarter ended May 1, up from $19.6 million, or 40 cents per share and $42.4 million in the same period a year ago. was up. First quarter of 2019.
According to FactSet, revenue for the quarter increased to $451.1 million from $265.3 million a year ago, which was ahead of analysts’ expectations of $440.6 million. The company said its first-quarter top line was up 24% in 2019 from the $363.6 million it logged in the same period.
The company said same-store sales grew about 11% from the same quarter in 2019. Chief financial officer Michael Quartieri said the company’s results in the quarter benefited from a higher mix of entertainment and a “leaner operating model.”
“While we still face pressure from wage and commodity inflation, our margins continue to improve as we offset the cost of inflation with a more efficient labor model, cost savings and efficiency, and thoughtful pricing actions,” They said.
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Credit: www.marketwatch.com /