The US-based entertainment and dining giant Dave & Buster’s has reported its finances for the second quarter of 2022, ended July 31.
The company said revenue has increased 35.9 per cent from the second quarter of 2019 to a record US$468.4m.
Comparable store sales increased 9.6 per cent within the same period in 2019.
Net income totalled a record $28.1m, compared to $52.8m in the second quarter of 2021.
Adjusted EBITDA increased 39 per cent from the second quarter of 2019 to a record $119.6m.
Dave & Buster’s ended the quarter with $100.4m in cash and $591.8m of liquidity available under the company’s $500m revolving credit facility.
Chris Morris, CEO at Dave & Buster’s, said: “We experienced strong guest visitation and spending across both brands this quarter. Our teams continued to deliver high levels of service to our guests, while simultaneously beginning the process of integration into one company.
“I want to recognise the efforts of our combined teams as we work to capture the synergies from our combination and adopt best practices across our brands. While we saw substantial headwinds during the quarter from wage and commodity inflation, we remained focused on driving revenue and strong cash flow while still working to mitigate these pressures with operational efficiencies and appropriate pricing actions.
“We have significant upside potential and with our continued focus on innovation, growth and value creation, we are determined to deliver on that potential. We are excited about the future of this new organisation and look forward to sharing our progress in the coming quarters.”
