Dave and Buster's Entertainment has updated guidance for its fiscal 2018, which ends on February 3, 2019. The company expects to report its full fourth quarter and fiscal 2018 results in early April 2019.
“We remain laser-focused on our strategic priorities to drive comparable store sales, including evolving our offering, improving the guest experience, and more effectively communicating our new news and value. I’m pleased with the progress our team made throughout the year, as we continue to evolve the brand, resulting in the return to positive comparable store sales in the fourth quarter,” said Brian Jenkins, CEO.
“Meanwhile, new stores continue to deliver excellent returns. With their first year now completed, we are excited to report year one cash-on-cash returns of approximately 64 per cent for our 2017 class of stores, one of our best in recent history. Opening new stores with outstanding returns remains a key priority and we are maintaining our plan to open 15 to 16 new stores in fiscal 2019,” Jenkins concluded.
Based on quarter-to-date performance, the company expects fiscal fourth quarter comparable same store sales to increase 1.8 per cent to 2.5 per cent. For the full year, comparable store sales are expected to decrease 1.9 per cent to 1.7 per cent versus prior guidance of a low single-digits decrease.
For fiscal 2018, total revenues are expected to range from US$1.259bn to $1.263 bn compared to prior guidance of $1.243bn to $1.255bn. Net income for fiscal 2018 is expected to range from $112m to $114m versus prior guidance of $106m to $113m. The effective tax rate is projected to be unchanged at approximately 22 per cent.
EBITDA for 2018 is expected to range from $276m to $278m compared to $268m to $277m.
