Dave & Buster's Entertainment Inc. has promoted Margo Manning to chief operating officer in the wake of Dolf Berle’s resignation, the company said Tuesday.
The Dallas-based entertainment and dining chain said Manning immediately succeeds Berle, who was expected to announce a position with another company soon. Berle had been in the president and COO positions since January 2011.
Manning had served as Dave & Buster’s senior vice president of human resources since November 2010 after roles in training, special events, sales and management development. She joined Dave & Buster’s in 1991.
“For the last 25 years, I have been fortunate to work at such a dynamic company and to be surrounded by a dedicated team who are so passionate about strengthening our brand positioning as a ‘one of a kind' entertainment and dining destination,” Manning said in a statement.
Steve King, Dave & Buster’s CEO, said: “Margo has always been a stellar performer who brings an infectious level of energy and excitement to everything that she does. We congratulate her on this well-deserved promotion.”
Also Tuesday, Dave & Buster’s reported same-store sale increased 5.9 percent in the third quarter ended Oct. 30. That lapped an 8.8 percent same-store sales increase in the prior-year quarter.
“Guests responded well to the conclusion of our 'Summer of Games' promotion, along with our subsequent football-related promotions,” King said.
The company booked third-quarter income of $10.8 million, or 25 cents a share, compared to $4.6 million, or 11 cents a share, in the same quarter a year ago. Revenues increased 18.6 percent, rising to $228.7 million from $192.8 million in the prior-year quarter.
Across all stores, the company said, food and beverage revenues increased 13 percent, to $101.3 million from $89.8 million, and amusements and other revenues increased 24 percent, to $127.3 million from $102.9 million. Food and Beverage represented 44.3 percent of total revenues.
Dave & Buster’s has 91 venues in 33 states and Canada.
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Photo courtesy of Dave & Buster's
