Dave & Buster’s Leisure, Inc. (NASDAQ: PLAY), which operates a sequence of informal eating and leisure amenities, has reported a pointy fall in revenue for the primary quarter of 2024, reflecting a lower in revenues.
The Dallas-based firm reported a web earnings of $41.4 million or $0.99 per share for the April quarter, down from $70.1 million or $1.45 per share within the prior-year interval. Adjusted EBITDA decreased 13% yearly to $159.1 million through the three months.
First-quarter revenues dropped 2% year-over-year to $588.1 million, at the same time as comparable retailer gross sales declined 5.6%. Revenues decreased in each working segments — Meals and Beverage and Leisure.
Chris Morris, the corporate’s CEO, stated, “During the quarter, we realized more than $10 million of incremental labor and marketing costs associated with the roll-out of new initiatives and certain marketing tests which we do not expect to repeat going forward. Additionally, we are pleased with the improving top and bottom-line performance we have seen over the last several weeks as we scale some of our more successful organic growth initiatives.”
