Comp sales at Dave & Buster’s increased 11 percent in the second quarter, the casual-dining company announced Tuesday, nearly doubling the 5.7 percent increase it saw during the year ago quarter.
Total revenues at the company rose 19.8 percent year over year, to $217.3 million, Dave & Buster’s said, largely the result of streamlined operations and a “continued shift” in the business toward growth in its higher-margin amusement category.
“Our 2014 and 2015 classes meaningfully contributed to the 19.8 percent growth in our second-quarter top line,” CEO Steve King said in a statement.
“Similar to the first quarter, our strength was broad-based across our sales categories, operating days, dayparts and geographies.”
Net income at the company rose to $12.6 million, compared to a net loss of $13.9 million during the year ago quarter.
During Q2, Dave & Buster’s sought to extend customers’ in-restaurant experience by rolling out digital versions of three console games that are some of the most-played at the brand’s 77 brick-and-mortar locations.
Winners are rewarded with virtual tickets that can be redeemed for prizes in-restaurant, providing additional incentive for customers to visit their local Dave & Buster’s.
As a result of the company’s second-quarter performance, Dave & Buster’s raised its guidance for fiscal 2015, planning to add eight to nine stores instead of the seven to eight previously forecasted and expecting comp sales between 6.5 percent and 7.5 percent, up from the 4 percent-to-5 percent range earlier anticipated.
King noted that in order to attract new customers and strengthen Dave & Buster’s positioning as a “one-of-a-kind” venue for entertainment and sports viewing, the company would continue to invest in unit remodels and the creation of D&B Sports lounges, offshoot concepts within existing Dave & Buster’s locations.
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