Skip navigation

Dave & Buster's cuts loss in 3Q

DALLAS Dave & Buster's Inc. cut its net loss in the third quarter as food and beverage sales fell at its 56 casual-dining restaurants but revenue from the concept's games held steady.

The company posted a net loss of $5.5 million in the Nov. 1-ended third quarter, compared with a net loss of $5.7 million a year earlier.

Revenue fell 2.1 percent to $117.2 million in the quarter, as a 7.4-percent decrease in same-store sales was largely offset by sales contributions from six restaurants opened since 2008Õs third quarter, Dave & Buster's said.

The Dallas-based company said food and beverage sales were down 5.3 percent to $60.5 million, while revenues from its amusement business and other activities rose 1.4 percent to $56.6 million.

"We are encouraged that the key differentiator of the Dave & Buster's brand, our amusements business, has remained relatively strong during this economic downturn," said Steve King, Dave & Buster's chief executive. "This gives us confidence that as the economy recovers, we are well positioned to take advantage of renewed discretionary spending."

Contact Alan J. Liddle at [email protected].

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish