US-based operator Dave and Buster's has announced results for its third quarter ended November 2, 2008.
Total revenues decreased 3.2 per cent to $119.7m in the third quarter of 2008, compared to $123.7m in the third quarter of 2007.
This revenue decline was comprised primarily of a six per cent decrease in comparable store sales offset by a $3.2m increase in revenues from non-comparable operations. Total food and beverage revenues decreased 4.7 per cent while revenues from amusements and other areas decreased 1.4 per cent.
EBITDA for the third quarter of 2009 of $10.9m was less than the previous year EBITDA of $11.5m by 4.8 per cent.
Total revenues for the 39-week period increased 1.9 per cent to $398.4m from $390.8m for the comparable period last year. This revenue growth was comprised primarily of a 0.2 per cent decrease in comparable store sales and an $8.2m increase in revenues from non-comparable operations.
Total food and beverage revenues decreased 0.4 per cent while revenues from amusements and other revenue increased 4.7 per cent.
Commenting on the results, Steve King, chief executive officer, said: "Macroeconomic factors made for an extremely challenging sales environment and hurricane Ike forced the closure of two of our stores for two weeks.
"The result was that our top line suffered during the quarter. Despite these obstacles, our operating team did a great job of executing against our initiatives and improving efficiency."
