Dave & Buster’s Entertainment, Inc. owns and operates entertainment and dining venues for adults and families. Dave & Buster’s owns and operates 125 venues in 39 states, Puerto Rico, and Canada.
Shares of Dave & Buster’s Entertainment Inc. are down double digits due to first-quarter sales and profit that missed Wall Street expectations and forward guidance is lowered than expectations.
Dave & Buster’s said it earned $42.4 million vs. $42.2 million, in the first quarter a year ago, while revenue rose to $363.6 million from $332.2 million a year ago.
However, the company said its same-store sales fell 0.3% driven by a decline in walk-in sales and they expect 2019 revenue between $1.365 billion and $1.390 billion, versus a prior guidance of revenue between $1.370 billion and $1.400 billion.
It’s all about the guidance and if the economy is actually slowing down, consumers will have less discretionary funds to spend at places like Dave and Busters.
So where is the stock price heading next, price is bouncing off of the weekly demand at $40.50 in the pre-market. Thus, the chart suggests price will at least pause at this level before moving higher/lower.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.