Investor Alert

March 31, 2021, 4:23 p.m. EDT

Dave & Buster's swings to Q4 loss, sales beat expectations

Dave & Buster's Entertainment Inc. (NAS:PLAY) shares rose in the extended session Wednesday after the company said its fourth quarter was "severely impacted" by the pandemic but it swung to a narrower-than-expected quarterly loss and sales came in above expectations. Dave & Buster's said it lost $56.8 million, or $1.19 a share, in the quarter, contrasting with net income of $25 million, or 80 cents a share, in the year-ago quarter. Revenue fell to $116.8 million from $347.2 million, the company said, with same-store sales down 70%. Analysts polled by FactSet expected a loss of $1.25 a share on revenue of $101.7 million. "Following a temporary setback due to the COVID resurgence over the holidays, our business recovery regained momentum," Chief Executive Brian Jenkins said in a statement. The company's recovery is "accelerating," he said. Based on preliminary results, Dave & Buster's expects first-quarter revenue between $210 million and $220 million for its first quarter, it said. Shares ended the regular trading day up 0.5%.

Link to MarketWatch's Slice.