Why Dave & Buster's Entertainment Stock Is Tumbling Wednesday
Why Dave & Buster's Entertainment Stock Is Tumbling Wednesday
Board chair Dave & Buster's Entertainment Inc (NASDAQ:PLAY) shares are trading lower Wednesday after the company reported worse-than-expected financial results for the third quarter and announced a CEO transition. Multiple analysts downgraded the stock following the print.
Dave & Buster's Entertainment Inc（納斯達克：PLAY）的股票在週三交易中下跌，此前公司公佈了第三季度業績不及預期的財務結果，並宣佈了首席執行官的過渡。多位分析師在業績發佈後下調了該股票的評級。
- Q3 Revenue: $453 million, versus analyst estimates of $563.6 million
- Q3營業收入：45300萬美金，分析師預估爲56360萬美金
- Q3 Adjusted EPS: Loss of 45 cents, versus estimates of 90 cents
- Q3調整後每股收益：虧損45美分，預估爲90美分
Total revenue decreased 3% year-over-year and comparable store sales fell 7.7% year-over-year. Dave & Buster's ended the quarter with $8.6 million in cash and $537.4 million of availability under its $650 million revolving credit facility.
總營業收入同比下降3%，可比門店銷售額同比下降7.7%。Dave & Buster's以860萬美金的現金和53740萬美金的可用額度結束了本季度，這部分來自於其65000萬美金的循環信用額度。
The company also announced that CEO Chris Morris resigned to pursue other interests. The board noted that it has been working with a global executive search firm in recent months to assist in identifying the company's next permanent CEO.
該公司還宣佈首席執行官克里斯·莫里斯辭職，以追求其他興趣。董事會指出，在最近幾個月，它一直在與一家全球高管搜索公司合作，以幫助尋找公司的下任常務首席執行官。
Board chair Kevin Sheehan will serve as interim CEO. The board has also appointed director James Chambers as vice chair of the board. During the transition period, director Michael Griffith will temporarily assume the role of lead independent director.
董事會主席凱文·希安將擔任臨時首席執行官。董事會還任命董事詹姆斯·錢伯斯爲董事會副主席。在過渡期間，董事邁克爾·格里菲斯將暫時擔任首席獨立董事。
"The Board worked closely with Chris to create our company's strategic direction and has the utmost confidence in this management team and the company's strategy. Overall, I am proud of the team's commitment and dedication to creating memorable experiences for our valued guests each and every day and we are confident our initiatives will lead to growth in same-store sales, revenue, and cash flow in the coming quarters for the benefit of our shareholders," Sheehan said.
希安表示：「董事會與克里斯密切合作，制定了我們公司的戰略方向，並對這一管理團隊及公司的策略充滿信心。總體而言，我爲團隊在每一天爲我們尊貴的客戶創造難忘體驗的承諾和奉獻感到自豪，我們相信我們的舉措將在未來幾個季度推動同店銷售、營業收入和現金流增長，從而造福我們的股東。」
Following the company's quarterly results, Truist Securities analyst Jake Bartlett downgraded Dave & Buster's from Buy to Hold and lowered the price target from $56 to $36. William Blair analyst Sharon Zackfia also downgraded Dave & Buster's from Outperform to Market Perform.
在公司季度業績公佈後，Truist Securities分析師傑克·巴特萊特將Dave & Buster's的評級從買入下調至持有，並將目標價從56美元降至36美元。威廉·布萊爾分析師香農·扎克菲亞也將Dave & Buster's的評級從跑贏大盤下調至市場表現。
PLAY Price Action: Dave & Buster's shares were down 13.7%, trading at $31.75 at the time of writing Wednesday, according to Benzinga Pro.
PLAY價格走勢：根據Benzinga Pro的數據，Dave & Buster's的股價下跌了13.7%，在撰寫時交易價格爲31.75美元。
Photo: Shutterstock.
圖片：Shutterstock。
譯文內容由第三人軟體翻譯。