A weaker-than-expected December 2017 has led US chain Dave and Buster’s to cut its sales and profit forecasts for fiscal 2017.
Shares in the sports bar and arcade brand fell 17 per cent at one stage following the announcement of a revised forecast.
The company now expects net income somewhere between US$108m and $110m, down from the previous forecast of $110m-$112m. Revenues will now be in the $1.138bn-$1.142bn range, reduced from $1.148bn-$1.155bn. The same-store sales estimates are down from one to 0.7 per cent compared with the flat rate of up to 0.75 per cent.
Steve King, CEO, said that despite the weak December he expected overall growth. “Our new stores continue to perform well. We will open 14 or 15 new stores in 2018.
