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May 06, 2025
Dave & Buster's Q1 2025 Earnings Report
Dave & Buster's reported a decrease in revenue and earnings in Q1 2025 compared to the prior year.
Key Takeaways
Dave & Buster's saw lower revenue and earnings in Q1 2025, impacted by an 8.3% decline in comparable store sales, though sequential improvements through the quarter suggest early benefits from operational changes.
Revenue declined 3.5% year-over-year to $567.7 million.
Comparable store sales dropped 8.3% versus Q1 2024.
Net income was $21.7 million, down from $41.4 million last year.
Sequential improvement in sales trend observed from February to April 2025.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company reiterated its FY25 financial outlook with plans to keep capital expenditures under $220 million and emphasized ongoing operational improvements.
Positive Outlook
- Sequential recovery in comparable sales through Q1.
- Opened two new stores and relocated one during the quarter.
- Completed 13 store remodels in Q1.
- Strong operating cash generation of $95.8 million.
- Continued share repurchases showing confidence in performance.
Challenges Ahead
- Overall revenue declined from the prior year.
- Net income and EPS dropped significantly compared to Q1 2024.
- Comparable store sales down 8.3% year-over-year.
- Adjusted EBITDA declined to $136.1 million from $159.1 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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