Shares of Dave & Buster's jumped as much as 4 percent Wednesday after the company's efforts to improve its menu and amusement offerings led to same-store sales growth that beat expectations.
Interim CFO Joe DeProspero also credited the better-than-expected sales growth to favorable weather during November and December — despite late January's polar vortex — and a calendar change that moved Christmas and New Year's to weekdays this year. "Against admittedly easy compares and aided by favorable weather/calendar, amusement comps return to mid-single-digit growth for the first time in six quarters and food/beverage comps surprisingly turned positive for the first time in two years," BMO Capital Markets analyst Andrew Strelzik wrote in a note.
Dave & Buster's also reported revenue of $332 million, topping Wall Street estimates of $324 million.
Source: News Formal (newsformal.com)
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