Dave & Buster’s Entertainment Inc. set revenue records and recorded strong same-store sales during the fourth quarter ended Feb. 1, the company reported Tuesday.
The Dallas-based company, which went public in October, said revenue increased 20.8 percent, to $207.1 million, during the fourth quarter, an increase from $171.4 million the previous year. Same-store sales rose 10.5 percent.
The restaurant-entertainment brand showed strength beyond its typical sports-minded customers, Dave & Buster’s CEO Steve King said in a statement.
“D&B Sports played an important role in our 10.5-percent comparable-store sales growth during the fourth quarter, but our sales growth across geographies, operating days, and dayparts demonstrates that Dave & Buster's brand appeal is much broader than just sports,” King said.
The company opened three new locations during the fourth quarter in Albuquerque, N.M.; Portland, Ore.; and Greenville, S.C. The three locations marked the brand’s debut in each state. The company opened eight new units during the year.
“With a long-term market potential in North America in excess of 200 stores, we have a significant whitespace opportunity to expand our domestic store base, and over time, will explore international development options as well,” King said.
Dave & Buster’s owns and operates 72 venues in 30 states and Canada.
4Q NET INCOME
Result: $14.7 million, 34 cents per share% Increase: 201% (from $4.9 million, or 14 cents per share)
4Q REVENUE
Result: $207.1 million% Increase: 20.8% (from $171.4 million)
4Q SAME-STORE SALES
% Increase: 10.5%Source: Company report
FULL YEAR NET INCOME
Result: $7.6 million, 21 cents per share% Increase: 252.1% (from $2.2 million, or 6 cents per share)
FULL YEAR REVENUE
Result: $746.8 million% Increase: 17.5% (from $635.6 million)
FULL YEAR SAME-STORE SALES
% Increase: 7.3%Source: Company report
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