(Dave & Buster’s) Shares of Dave & Buster’s Entertainment rose more than 4% on Tuesday after reporting a record revenue of $451.1 million in the first quarter of 2022. The revenue was an increase of 24.1% from the prior year.
Dave & Buster’s said that its comparable sales rose by 10.9%, which the company attributed to a return to a normalized operating environment.
The company’s net income reached a record $67.0 million or $1.35 per diluted share, compared to $19.6 million or $0.40 per share in the comparable quarter of 2021.
The adjusted EBITDA also hit a record $143.2 million or 31.8% of revenue, an increase of 45.9% compared to the first quarter of 2019.
Dave & Buster’s said that five weeks into the second quarter, its comparable-store sales have already risen by 12.2% compared to the same period of 2019. Walk-in comparable-store sales have risen by 17.8% in the same period, amid a 27.9% decline in Special Event comparable store sales.
PLAY: NASDAQ is up +4.05%.
