Dave & Buster's Needs to Rethink Its Growth Strategy
Dave & Buster's (NASDAQ: PLAY) shareholders aren't having much fun these days.
The purveyor of games, food, beverages, and sports has consistently posted disappointing results in recent years as comparable sales have fallen and profit growth has stagnated. The stock is down about a third from its 2019 peak.
The company's third-quarter earnings report, which came out after hours on Tuesday, showed those trends continuing. Comparable sales declined 4.1% in the quarter, and earnings per share declined from $0.30 to $0.02. The turnaround that investors have been hoping for does not seem imminent, despite efforts that have included rolling out new virtual reality games, adding new menu items, reformatting its locations, and improving its app.
Source Fool.com
