Dave & Buster's Is Creeping Back Towards Profitability
Investors weren't expecting much good news from Dave & Buster's Entertainment (NASDAQ: PLAY) in its first-quarter earnings report. The selling period included six full weeks during which all of its restaurants and entertainment venues were closed in accordance with COVID-19 containment mandates. The chain had announced aggressive savings moves in the early days of the pandemic, but losses were almost guaranteed due to its high base of fixed costs.
Last week, Dave & Buster's revealed the scope of the COVID-19 hit to its business, which has harmed its financial standing thanks to brutal drops in both revenue and earnings. CEO Brian Jenkins and his team detailed those challenges in a conference call with analysts, and below are a few highlights from that presentation.
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Source Fool.com
