☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Delaware | 35-2382255 | |
(State of Incorporation) | (I.R.S. Employer ID) | |
(214) 357-9588 | ||
(Address of principal executive offices) (Zip Code) | (Registrant’s telephone number) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Common Stock $0.01 par value | PLAY | NASDAQ Global Select Market |
Large accelerated filer | ☒ | Accelerated filer | ☐ | |||
Non-accelerated filer | ☐ | Smaller reporting company | ☐ | |||
Emerging Growth Company | ☐ |
Page | ||||||
PART I | ||||||
Item 1. | 3 | |||||
Item 2. | ||||||
Item 3. | ||||||
Item 4. | ||||||
PART II | ||||||
Item 1. | ||||||
Item 1A. | ||||||
Item 2. | ||||||
Item 6. | ||||||
Item | Financial Statements |
August 1, | January 31, | May 1, | January 30, | |||||||||||||
2021 | 2021 | 2022 | 2022 | |||||||||||||
(unaudited) | (audited) | (unaudited) | (audited) | |||||||||||||
ASSETS | ||||||||||||||||
Current assets: | ||||||||||||||||
Cash and cash equivalents | $ | 107,801 | $ | 11,891 | $ | 139,081 | $ | 25,910 | ||||||||
Inventories | 23,811 | 23,807 | 41,601 | 40,319 | ||||||||||||
Prepaid expenses | 10,673 | 11,878 | 16,403 | 11,316 | ||||||||||||
Income taxes receivable | 51,639 | 70,064 | 16,697 | 64,921 | ||||||||||||
Other current assets | 2,031 | 1,231 | 3,358 | 3,105 | ||||||||||||
Total current assets | 195,955 | 118,871 | 217,140 | 145,571 | ||||||||||||
Property and equipment (net of $862,568 and $798,804 accumulated depreciation as of August 1, 2021 and January 31, 2021, respectively) | 785,227 | 815,027 | ||||||||||||||
Property and equipment (net of $937,939 and $908,536 accumulated depreciation as of May 1, 2022 and January 30, 2022, respectively) | 787,750 | 778,597 | ||||||||||||||
Operating lease right of use assets | 1,018,558 | 1,037,569 | 1,055,328 | 1,037,197 | ||||||||||||
Deferred tax assets | 7,313 | 5,874 | 9,203 | 9,961 | ||||||||||||
Tradenames | 79,000 | 79,000 | 79,000 | 79,000 | ||||||||||||
Goodwill | 272,570 | 272,597 | 272,604 | 272,597 | ||||||||||||
Other assets and deferred charges | 25,882 | 23,886 | 22,075 | 22,867 | ||||||||||||
Total assets | $ | 2,384,505 | $ | 2,352,824 | $ | 2,443,100 | $ | 2,345,790 | ||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||||||
Current liabilities: | ||||||||||||||||
Accounts payable | $ | 34,227 | $ | 36,400 | $ | 54,528 | $ | 62,493 | ||||||||
Accrued liabilities | 272,062 | 234,790 | 254,920 | 248,493 | ||||||||||||
Income taxes payable | 2,644 | 446 | 3,630 | 529 | ||||||||||||
Total current liabilities | 308,933 | 271,636 | 313,078 | 311,515 | ||||||||||||
Deferred income taxes | 11,405 | 13,658 | 15,446 | 12,012 | ||||||||||||
Operating lease liabilities | 1,248,038 | 1,267,791 | 1,294,486 | 1,277,539 | ||||||||||||
Other liabilities | 48,438 | 50,119 | 36,382 | 37,869 | ||||||||||||
Long-term debt, net | 537,816 | 596,388 | 431,966 | 431,395 | ||||||||||||
Commitments and contingencies | 0 | 0 | 0 | 0 | ||||||||||||
Stockholders’ equity: | ||||||||||||||||
Common stock, par value $0.01; authorized: 400,000,000 shares; issued: 61,276,473 shares at August 1, 2021 and 60,488,833 shares at January 31, 2021; outstanding: 48,256,375 shares at August 1, 2021 and 47,646,606 shares at January 31, 2021 | 613 | 605 | ||||||||||||||
Common stock, par value $0.01; authorized: 400,000,000 shares; issued: 61,817,849 shares at May 1, 2022 and 61,563,613 shares at January 30, 2022; outstanding: 48,718,457 shares at May 1, 2022 and 48,489,935 | 618 | 616 | ||||||||||||||
Preferred stock, 50,000,000 authorized; NaN issued | 0— | 0— | 0— | 0— | ||||||||||||
Paid-in capital | 540,348 | 531,191 | 557,977 | 548,776 | ||||||||||||
Treasury stock, 13,020,098 and 12,842,227 shares as of August 1, 2021 and January 31, 2021, respectively | (603,686 | ) | (595,970 | ) | ||||||||||||
Treasury stock, 13,099,392 and 13,073,678 shares as of May 1, 2022 and January 30, 2022, respectively | (606,669 | ) | (605,435 | ) | ||||||||||||
Accumulated other comprehensive loss | (6,296 | ) | (9,085 | ) | (2,299 | ) | (3,628 | ) | ||||||||
Retained earnings | 298,896 | 226,491 | 402,115 | 335,131 | ||||||||||||
Total stockholders’ equity | 229,875 | 153,232 | 351,742 | 275,460 | ||||||||||||
Total liabilities and stockholders’ equity | $ | 2,384,505 | $ | 2,352,824 | $ | 2,443,100 | $ | 2,345,790 | ||||||||
Thirteen Weeks | Thirteen Weeks | Thirteen Weeks | Thirteen Weeks | |||||||||||||
Ended | Ended | Ended | Ended | |||||||||||||
August 1, 2021 | August 2, 2020 | May 1, 2022 | May 2, 2021 | |||||||||||||
Food and beverage revenues | $ | 123,006 | $ | 17,002 | $ | 151,912 | $ | 85,758 | ||||||||
Amusement and other revenues | 254,632 | 33,831 | 299,189 | 179,582 | ||||||||||||
Total revenues | 377,638 | 50,833 | 451,101 | 265,340 | ||||||||||||
Cost of food and beverage | 33,127 | 4,659 | 43,255 | 23,157 | ||||||||||||
Cost of amusement and other | 24,584 | 4,025 | 26,766 | 16,614 | ||||||||||||
Total cost of products | 57,711 | 8,684 | 70,021 | 39,771 | ||||||||||||
Operating payroll and benefits | 80,623 | 13,756 | 93,361 | 50,279 | ||||||||||||
Other store operating expenses | 105,116 | 62,682 | 124,425 | 84,445 | ||||||||||||
General and administrative expenses | 18,470 | 9,278 | 28,297 | 17,091 | ||||||||||||
Depreciation and amortization expense | 34,875 | 35,160 | 33,288 | 35,099 | ||||||||||||
Pre-opening costs | 1,676 | 2,388 | 2,997 | 1,659 | ||||||||||||
Total operating costs | 298,471 | 131,948 | 352,389 | 228,344 | ||||||||||||
Operating income (loss) | 79,167 | (81,115 | ) | |||||||||||||
Operating income | 98,712 | 36,996 | ||||||||||||||
Interest expense, net | 13,728 | 8,163 | 11,391 | 14,820 | ||||||||||||
Income (loss) before provision (benefit) for income taxes | 65,439 | (89,278 | ) | |||||||||||||
Provision (benefit) for income taxes | 12,669 | (30,676 | ) | |||||||||||||
Income before provision for income taxes | 87,321 | 22,176 | ||||||||||||||
Provision for income taxes | 20,337 | 2,541 | ||||||||||||||
Net income (loss) | 52,770 | (58,602 | ) | |||||||||||||
Net income | 66,984 | 19,635 | ||||||||||||||
Unrealized foreign currency translation gain (loss) | (15 | ) | 304 | (42 | ) | 61 | ||||||||||
Unrealized gain on derivatives, net of tax | 1,372 | 1,372 | 1,371 | 1,371 | ||||||||||||
Total other comprehensive income | 1,357 | 1,676 | 1,329 | 1,432 | ||||||||||||
Total comprehensive income (loss) | $ | 54,127 | $ | (56,926 | ) | |||||||||||
Total comprehensive income | $ | 68,313 | $ | 21,067 | ||||||||||||
Net income (loss) per share: | ||||||||||||||||
Net income per share: | ||||||||||||||||
Basic | $ | 1.10 | $ | (1.24 | ) | $ | 1.38 | $ | 0.41 | |||||||
Diluted | $ | 1.07 | $ | (1.24 | ) | $ | 1.35 | $ | 0.40 | |||||||
Weighted average shares used in per share calculations: | ||||||||||||||||
Basic | 48,178,611 | 47,111,763 | 48,580,273 | 47,695,705 | ||||||||||||
Diluted | 49,229,817 | 47,111,763 | 49,453,503 | 49,331,092 |
Twenty-Six Weeks | Twenty-Six Weeks | |||||||
Ended | Ended | |||||||
August 1, 2021 | August 2, 2020 | |||||||
Food and beverage revenues | $ | 208,764 | $ | 80,922 | ||||
Amusement and other revenues | 434,214 | 129,717 | ||||||
Total revenues | 642,978 | 210,639 | ||||||
Cost of food and beverage | 56,284 | 22,003 | ||||||
Cost of amusement and other | 41,198 | 14,753 | ||||||
Total cost of products | 97,482 | 36,756 | ||||||
Operating payroll and benefits | 130,902 | 57,493 | ||||||
Other store operating expenses | 189,561 | 158,354 | ||||||
General and administrative expenses | 35,561 | 23,841 | ||||||
Depreciation and amortization expense | 69,974 | 70,512 | ||||||
Pre-opening costs | 3,335 | 6,211 | ||||||
Total operating costs | 526,815 | 353,167 | ||||||
Operating income (loss) | 116,163 | (142,528 | ) | |||||
Interest expense, net | 28,548 | 14,278 | ||||||
Income (loss) before provision (benefit) for income taxes | 87,615 | (156,806 | ) | |||||
Provision (benefit) for income taxes | 15,210 | (54,660 | ) | |||||
Net income (loss) | 72,405 | (102,146 | ) | |||||
Unrealized foreign currency translation gain (loss) | 46 | (131 | ) | |||||
Unrealized gain (loss) on derivatives, net of tax | 2,743 | (3,577 | ) | |||||
Total other comprehensive income (loss) | 2,789 | (3,708 | ) | |||||
Total comprehensive income (loss) | $ | 75,194 | $ | (105,854 | ) | |||
Net income (loss) per share: | ||||||||
Basic | $ | 1.51 | $ | (2.59 | ) | |||
Diluted | $ | 1.47 | $ | (2.59 | ) | |||
Weighted average shares used in per share calculations: | ||||||||
Basic | 47,937,158 | 39,470,874 | ||||||
Diluted | 49,272,693 | 39,470,874 |
Thirteen Weeks Ended August 1, 2021 | ||||||||||||||||||||||||||||||||
Accumulated | ||||||||||||||||||||||||||||||||
Other | ||||||||||||||||||||||||||||||||
Paid-In | Treasury Stock | Comprehensive | Retained | |||||||||||||||||||||||||||||
Common Stock | Capital | At Cost | Loss | Earnings | Total | |||||||||||||||||||||||||||
Shares | Amt. | Shares | Amt. | |||||||||||||||||||||||||||||
Balance May 2, 2021 | 60,691,906 | $ | 607 | $ | 535,768 | 12,847,298 | $ | (596,206 | ) | $ | (7,653 | ) | $ | 246,126 | $ | 178,642 | ||||||||||||||||
Net income | — | — | — | — | — | — | 52,770 | 52,770 | ||||||||||||||||||||||||
Unrealized foreign currency translation loss | — | — | — | — | — | (15 | ) | — | (15 | ) | ||||||||||||||||||||||
Unrealized gain on derivatives, net of tax | — | — | — | — | — | 1,372 | — | 1,372 | ||||||||||||||||||||||||
Share-based compensation | — | — | 3,187 | — | — | — | — | 3,187 | ||||||||||||||||||||||||
Issuance of common stock | 584,567 | 6 | 1,393 | — | — | — | — | 1,399 | ||||||||||||||||||||||||
Repurchase of common stock | — | — | — | 172,800 | (7,480 | ) | — | — | (7,480 | ) | ||||||||||||||||||||||
Balance August 1, 2021 | 61,276,473 | $ | 613 | $ | 540,348 | 13,020,098 | $ | (603,686 | ) | $ | (6,296 | ) | $ | 298,896 | $ | 229,875 | ||||||||||||||||
Thirteen Weeks Ended August 2, 2020 | ||||||||||||||||||||||||||||||||
Accumulated | ||||||||||||||||||||||||||||||||
Other | ||||||||||||||||||||||||||||||||
Paid-In | Treasury Stock | Comprehensive | Retained | |||||||||||||||||||||||||||||
Common Stock | Capital | At Cost | Loss | Earnings | Total | |||||||||||||||||||||||||||
Shares | Amt. | Shares | Amt. | |||||||||||||||||||||||||||||
Balance May 3, 2020 | 49,578,351 | $ | 496 | $ | 411,048 | 12,786,624 | $ | (595,077) | $ | (13,753) | $ | 389,921 | $ | 192,635 | ||||||||||||||||||
Net loss | — | — | — | — | — | — | (58,602 | ) | (58,602 | ) | ||||||||||||||||||||||
Unrealized foreign currency translation gain | — | — | — | — | — | 304 | — | 304 | ||||||||||||||||||||||||
Unrealized gain on derivatives, net of tax | — | — | — | — | — | 1,372 | — | 1,372 | ||||||||||||||||||||||||
Share-based compensation | — | — | 2,734 | — | — | — | — | 2,734 | ||||||||||||||||||||||||
Issuance of common stock | 10,843,861 | 108 | 112,471 | — | — | — | — | 112,579 | ||||||||||||||||||||||||
Repurchase of common stock | — | — | 40,676 | (651 | ) | — | — | (651 | ) | |||||||||||||||||||||||
Balance August 2, 2020 | 60,422,212 | $ | 604 | $ | 526,253 | 12,827,300 | $ | (595,728) | $ | (12,077) | $ | 331,319 | $ | 250,371 | ||||||||||||||||||
Twenty-Six Weeks Ended August 1, 2021 | ||||||||||||||||||||||||||||||||
Accumulated | ||||||||||||||||||||||||||||||||
Other | ||||||||||||||||||||||||||||||||
Paid-In | Treasury Stock | Comprehensive | Retained | |||||||||||||||||||||||||||||
Common Stock | Capital | At Cost | Loss | Earnings | Total | |||||||||||||||||||||||||||
Shares | Amt. | Shares | Amt. | |||||||||||||||||||||||||||||
Balance January 31, 2021 | 60,488,833 | $ | 605 | $ | 531,191 | 12,842,227 | $ | (595,970 | ) | $ | (9,085 | ) | $ | 226,491 | $ | 153,232 | ||||||||||||||||
Net income | — | — | — | — | — | — | 72,405 | 72,405 | ||||||||||||||||||||||||
Unrealized foreign currency translation gain | — | — | — | — | — | 46 | — | 46 | ||||||||||||||||||||||||
Unrealized gain on derivatives, net of tax | — | — | — | — | — | 2,743 | — | 2,743 | ||||||||||||||||||||||||
Share-based compensation | — | — | 6,158 | — | — | — | — | 6,158 | ||||||||||||||||||||||||
Issuance of common stock | 787,640 | 8 | 2,999 | — | — | — | — | 3,007 | ||||||||||||||||||||||||
Repurchase of common stock | — | — | — | 177,871 | (7,716 | ) | — | — | (7,716 | ) | ||||||||||||||||||||||
Balance August 1, 2021 | 61,276,473 | $ | 613 | $ | 540,348 | 13,020,098 | $ | (603,686 | ) | $ | (6,296 | ) | $ | 298,896 | $ | 229,875 | ||||||||||||||||
Thirteen Weeks Ended May 1, 2022 | ||||||||||||||||||||||||||||||||
Common Stock | Paid-In Capital | Treasury Stock At Cost | Accumulated Other Comprehensive Loss | Retained Earnings | Total | |||||||||||||||||||||||||||
Shares | Amt. | Shares | Amt. | |||||||||||||||||||||||||||||
Balance January 30, 2022 | 61,563,613 | $ | 616 | $ | 548,776 | 13,073,678 | $ | (605,435 | ) | $ | (3,628 | ) | $ | 335,131 | $ | 275,460 | ||||||||||||||||
Net income | — | — | — | — | — | — | 66,984 | 66,984 | ||||||||||||||||||||||||
Unrealized foreign currency translation loss | — | — | — | — | — | (42 | ) | — | (42 | ) | ||||||||||||||||||||||
Unrealized gain on derivatives, net of tax | — | — | — | — | — | 1,371 | — | 1,371 | ||||||||||||||||||||||||
Share-based compensation | 3,555 | — | — | — | — | 3,555 | ||||||||||||||||||||||||||
Issuance of common stock | 254,236 | 2 | 5,646 | — | — | — | — | 5,648 | ||||||||||||||||||||||||
Repurchase of common stock | — | — | — | 25,714 | (1,234 | ) | — | — | (1,234 | ) | ||||||||||||||||||||||
Balance May 1, 2022 | 61,817,849 | $ | 618 | $ | 557,977 | 13,099,392 | $ | (606,669 | ) | $ | (2,299 | ) | $ | 402,115 | $ | 351,742 | ||||||||||||||||
Twenty-Six Weeks Ended August 2, 2020 | ||||||||||||||||||||||||||||||||
Accumulated | ||||||||||||||||||||||||||||||||
Other | ||||||||||||||||||||||||||||||||
Paid-In | Treasury Stock | Comprehensive | Retained | |||||||||||||||||||||||||||||
Common Stock | Capital | At Cost | Loss | Earnings | Total | |||||||||||||||||||||||||||
Shares | Amt. | Shares | Amt. | |||||||||||||||||||||||||||||
Balance February 2, 2020 | 43,386,852 | $ | 434 | $ | 339,161 | 12,783,512 | $ | (595,041) | $ | (8,369) | $ | 433,465 | $ | 169,650 | ||||||||||||||||||
Net loss | — | — | — | — | — | — | (102,146 | ) | (102,146 | ) | ||||||||||||||||||||||
Unrealized foreign currency translation loss | — | — | — | — | — | (131 | ) | — | (131 | ) | ||||||||||||||||||||||
Unrealized loss on derivatives, net of tax | — | — | — | — | — | (3,577 | ) | — | (3,577 | ) | ||||||||||||||||||||||
Share-based compensation | — | — | 2,345 | — | — | — | — | 2,345 | ||||||||||||||||||||||||
Issuance of common stock | 17,035,360 | 170 | 184,747 | — | — | — | — | 184,917 | ||||||||||||||||||||||||
Repurchase of common stock | — | — | 43,788 | (687 | ) | — | — | (687 | ) | |||||||||||||||||||||||
Balance August 2, 2020 | 60,422,212 | $ | 604 | $ | 526,253 | 12,827,300 | $ | (595,728 | ) | $ | (12,077 | ) | $ | 331,319 | $ | 250,371 | ||||||||||||||||
Thirteen Weeks Ended May 2, 2021 | ||||||||||||||||||||||||||||||||
Common Stock | Paid-In Capital | Treasury Stock At Cost | Accumulated Other Comprehensive Loss | Retained Earnings | Total | |||||||||||||||||||||||||||
Shares | Amt. | Shares | Amt. | |||||||||||||||||||||||||||||
Balance January 31, 2021 | 60,488,833 | $ | 605 | $ | 531,191 | 12,842,227 | $ | (595,970 | ) | $ | (9,085 | ) | $ | 226,491 | $ | 153,232 | ||||||||||||||||
Net income | — | — | — | — | — | — | 19,635 | 19,635 | ||||||||||||||||||||||||
Unrealized foreign currency translation gain | — | — | — | — | — | 61 | — | 61 | ||||||||||||||||||||||||
Unrealized gain on derivatives, net of tax | — | — | — | — | — | 1,371 | — | 1,371 | ||||||||||||||||||||||||
Share-based compensation | — | — | 2,971 | — | — | — | — | 2,971 | ||||||||||||||||||||||||
Issuance of common stock | 203,073 | 2 | 1,606 | — | — | — | — | 1,608 | ||||||||||||||||||||||||
Repurchase of common stock | — | — | 5,071 | (236 | ) | — | — | (236 | ) | |||||||||||||||||||||||
Balance May 2, 2021 | 60,691,906 | $ | 607 | $ | 535,768 | 12,847,298 | $ | (596,206 | ) | $ | (7,653 | ) | $ | 246,126 | $ | 178,642 | ||||||||||||||||
Twenty-Six Weeks Ended August 1, 2021 | Twenty-Six Weeks Ended August 2, 2020 | Thirteen Weeks Ended May 1, 2022 | Thirteen Weeks Ended May 2, 2021 | |||||||||||||
Cash flows from operating activities: | ||||||||||||||||
Net income (loss) | $ | 72,405 | $ | (102,146 | ) | |||||||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||||||||
Net income | $ | 66,984 | $ | 19,635 | ||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||||
Depreciation and amortization expense | 69,974 | 70,512 | 33,288 | 35,099 | ||||||||||||
Non-cash interest expense | 3,774 | 2,201 | 1,887 | 1,887 | ||||||||||||
Impairment of long-lived assets | — | 13,727 | ||||||||||||||
Deferred taxes | (4,723 | ) | (31,609 | ) | 3,677 | (4,840 | ) | |||||||||
Loss on disposal of fixed assets | 257 | 417 | 216 | 145 | ||||||||||||
Share-based compensation | 6,158 | 2,345 | 3,555 | 2,971 | ||||||||||||
Other, net | 2,127 | 173 | 993 | 950 | ||||||||||||
Changes in assets and liabilities: | ||||||||||||||||
Inventories | (4 | ) | 3,288 | (1,282 | ) | 995 | ||||||||||
Prepaid expenses | 1,405 | 2,089 | (5,087 | ) | 197 | |||||||||||
Income tax receivable | 18,425 | (21,474 | ) | 48,224 | 14,840 | |||||||||||
Other current assets | (800 | ) | 2,311 | (253 | ) | (341 | ) | |||||||||
Other assets and deferred charges | (2,503 | ) | 107 | 64 | (2,097 | ) | ||||||||||
Accounts payable | (4,918 | ) | 6,646 | (10,882 | ) | 1,173 | ||||||||||
Accrued liabilities | 39,187 | 37,522 | 4,166 | 8,667 | ||||||||||||
Income taxes payable | 2,198 | (2,430 | ) | 3,101 | 845 | |||||||||||
Other liabilities | (4,874 | ) | 2,817 | (57 | ) | (2,930 | ) | |||||||||
Net cash provided by (used in) operating activities | 198,088 | (13,504 | ) | |||||||||||||
Net cash provided by operating activities | 148,594 | 77,196 | ||||||||||||||
Cash flows from investing activities: | ||||||||||||||||
Capital expenditures | (37,915 | ) | (63,486 | ) | (40,037 | ) | (10,359 | ) | ||||||||
Proceeds from sales of property and equipment | 446 | 152 | 200 | 54 | ||||||||||||
Net cash used in investing activities | (37,469 | ) | (63,334 | ) | (39,837 | ) | (10,305 | ) | ||||||||
Cash flows from financing activities: | ||||||||||||||||
Proceeds from debt | 37,000 | 138,000 | 14,000 | 19,000 | ||||||||||||
Payments of debt | (97,000 | ) | (38,500 | ) | (14,000 | ) | (79,000 | ) | ||||||||
Net proceeds from the issuance of common stock | — | 182,207 | ||||||||||||||
Proceeds from the exercise of stock options | 3,007 | 359 | 5,648 | 1,608 | ||||||||||||
Dividends paid | — | (4,891 | ) | |||||||||||||
Repurchases of common stock to satisfy employee withholding tax obligations | (7,716 | ) | (687 | ) | (1,234 | ) | (236 | ) | ||||||||
Net cash provided by (used in) financing activities | (64,709 | ) | 276,488 | 4,414 | (58,628 | ) | ||||||||||
Increase in cash and cash equivalents | 95,910 | 199,650 | 113,171 | 8,263 | ||||||||||||
Beginning cash and cash equivalents | 11,891 | 24,655 | 25,910 | 11,891 | ||||||||||||
Ending cash and cash equivalents | $ | 107,801 | $ | 224,305 | $ | 139,081 | $ | 20,154 | ||||||||
Supplemental disclosures of cash flow information: | ||||||||||||||||
Increase (decrease) in fixed asset accounts payable | $ | 2,745 | $ | (12,466 | ) | |||||||||||
Increase in fixed asset accounts payable | $ | 2,917 | $ | 1,845 | ||||||||||||
Cash paid (refund received) for income taxes, net | $ | (1,189 | ) | $ | 752 | $ | (35,129 | ) | $ | (8,525 | ) | |||||
Cash paid for interest, net | $ | 22,978 | $ | 11,295 | $ | 16,904 | $ | 22,525 |
Fair Value | ||||||||||||
Balance Sheet Location | August 1, 2021 | January 31, 2021 | ||||||||||
Interest rate swaps | Accrued liabilities | $ | (8,300 | ) | $ | (8,350 | ) | |||||
Interest rate swaps | Other liabilities | (373 | ) | (4,416 | ) | |||||||
Total derivatives | $ | (8,673 | ) | $ | (12,766 | ) | ||||||
Thirteen weeks ended | Twenty-six weeks ended | |||||||||||||||
August 1, 2021 | August 2, 2020 | August 1, 2021 | August 2, 2020 | |||||||||||||
Loss recorded in accumulated other comprehensive income | $ | 0 | $ | 0 | $ | — | $ | 7,602 | ||||||||
Loss reclassified into income (1) | $ | (1,887 | ) | $ | (1,887 | ) | $ | (3,774 | ) | $ | (2,680 | ) | ||||
Income tax expense (benefit) in accumulated other | ||||||||||||||||
comprehensive income | $ | 515 | $ | 515 | $ | 1,031 | $ | (1,345 | ) |
Thirteen weeks ended | ||||||||
May 1, 2022 | May 2, 2021 | |||||||
Loss reclassified or amortized into interest expense | $ | 1,887 | $ | 1,887 | ||||
Income tax effect | $ | (516 | ) | $ | (516 | ) |
Thirteen weeks ended | Twenty-Six weeks ended | |||||||||||||||
August 1, 2021 | August 2, 2020 | August 1, 2021 | August 2, 2020 | |||||||||||||
Basic weighted average shares outstanding | 48,178,611 | 47,111,763 | 47,937,158 | 39,470,874 | ||||||||||||
Weighted average dilutive impact of awards (1) | 1,051,206 | 0 | 1,335,535 | 0 | ||||||||||||
Diluted weighted average shares outstanding | 49,229,817 | 47,111,763 | 49,272,693 | 39,470,874 |
Thirteen weeks ended | ||||||||
May 1, 2022 | May 2, 2021 | |||||||
Basic weighted average shares outstanding | 48,580,273 | 47,695,705 | ||||||
Weighted average dilutive impact of awards | 873,230 | 1,635,387 | ||||||
Diluted weighted average shares outstanding | 49,453,503 | 49,331,092 |
August 1, 2021 | January 31, 2021 | May 1, 2022 | January 30, 2022 | |||||||||||||
Deferred amusement revenue | $ | 95,380 | $ | 78,852 | $ | 99,883 | $ | 92,961 | ||||||||
Current portion of operating lease liabilities, net (1) | 49,699 | 46,471 | 52,780 | 45,445 | ||||||||||||
Compensation and benefits | 33,325 | 13,846 | 30,357 | 27,447 | ||||||||||||
Current portion of deferred occupancy costs | 23,223 | 36,121 | 14,248 | 19,164 | ||||||||||||
Accrued interest | 10,748 | 11,321 | ||||||||||||||
Deferred gift card revenue | 10,317 | 10,918 | 10,840 | 11,855 | ||||||||||||
Property taxes | 10,154 | 8,149 | 7,143 | 6,450 | ||||||||||||
Current portion of derivatives | 8,300 | 8,350 | ||||||||||||||
Sales and use taxes | 6,148 | 1,385 | ||||||||||||||
Utilities | 5,638 | 4,151 | ||||||||||||||
Current portion of long-term insurance | 5,000 | 5,100 | 5,700 | 5,700 | ||||||||||||
Customer deposits | 2,695 | 1,373 | 5,592 | 3,471 | ||||||||||||
Utilities | 5,582 | 5,262 | ||||||||||||||
Sales and use taxes | 5,574 | 4,465 | ||||||||||||||
Current portion of derivatives | 1,172 | 3,823 | ||||||||||||||
Accrued interest | 246 | 8,629 | ||||||||||||||
Other | 11,435 | 8,753 | 15,803 | 13,821 | ||||||||||||
Total accrued liabilities | $ | 272,062 | $ | 234,790 | ||||||||||||
Total accrued liabilities | $ | 254,920 | $ | 248,493 | ||||||||||||
(1) | The balance of leasehold incentive receivables of $10,064 as of . |
August 1, 2021 | January 31, 2021 | May 1, 2022 | January 30, 2022 | |||||||||||||
Senior secured notes | $ | 550,000 | $ | 550,000 | $ | 440,000 | $ | 440,000 | ||||||||
Credit facility — revolver | 0 | 60,000 | ||||||||||||||
Total debt outstanding | 550,000 | 610,000 | 440,000 | 440,000 | ||||||||||||
Less debt issuance costs | (12,184 | ) | (13,612 | ) | (8,034 | ) | (8,605 | ) | ||||||||
Long-term debt, net | $ | 537,816 | $ | 596,388 | $ | 431,966 | $ | 431,395 | ||||||||
Thirteen Weeks Ended | Twenty- S ix Weeks Ended | |||||||||||||||
August 1, 2021 | August 2, 2020 | August 1, 2021 | August 2, 2020 | |||||||||||||
Interest expense on debt | $ | 11,038 | $ | 5,865 | $ | 23,139 | $ | 11,163 | ||||||||
Interest associated with swap agreements | 1,887 | 1,887 | 3,774 | 2,680 | ||||||||||||
Amortization of issuance cost | 1,103 | 411 | 2,205 | 654 | ||||||||||||
Interest income | 0 | 0 | 0 | (22 | ) | |||||||||||
Capitalized interest | (300 | ) | 0 | (570 | ) | (197 | ) | |||||||||
Total interest expense, net | $ | 13,728 | $ | 8,163 | $ | 28,548 | $ | 14,278 | ||||||||
Thirteen Weeks Ended | Twenty-Six Weeks Ended | Thirteen Weeks Ended | ||||||||||||||||||||||
August 1, 2021 | August 2, 2020 | August 1, 2021 | August 2, 2020 | May 1, 2022 | May 2, 2021 | |||||||||||||||||||
Operating lease cost | $ | 33,297 | 33,321 | $ | 66,591 | 66,884 | $ | 34,782 | 33,294 | |||||||||||||||
Variable lease cost | 7,241 | 5,688 | 14,630 | 13,054 | 9,847 | 7,389 | ||||||||||||||||||
Short-term lease cost | 187 | 140 | 310 | 227 | 117 | 123 | ||||||||||||||||||
Total | $ | 40,725 | $ | 39,149 | $ | 81,531 | $ | 80,165 | $ | 44,746 | $ | 40,806 | ||||||||||||
Thirteen Weeks Ended | Twenty-Six Weeks Ended | |||||||||||||||
August 1, 2021 | August 2, 2020 | August 1, 2021 | August 2, 2020 | |||||||||||||
Stock options | $ | 84 | 290 | $ | 358 | 830 | ||||||||||
Restricted stock units | 3,103 | 2,444 | 5,800 | 1,515 | ||||||||||||
Share-based compensation expense | $ | 3,187 | $ | 2,734 | $ | 6,158 | $ | 2,345 | ||||||||
Thirteen Weeks Ended | ||||||||
May 1, 2022 | May 2, 2021 | |||||||
Stock options | $ | 261 | 274 | |||||
Restricted stock units | 3,294 | 2,697 | ||||||
Share-based compensation expense | $ | 3,555 | $ | 2,971 | ||||
2014 Stock Incentive Plan | 2010 Stock Incentive Plan | 2014 Stock Incentive Plan | 2010 Stock Incentive Plan | |||||||||||||||||||||||||||||
Number of Options | Wtd. Avg. Exercise Price | Number of Options | Wtd. Avg. Exercise Price | Number | Wtd. Avg. | Number | Wtd. Avg. | |||||||||||||||||||||||||
of Options | Exercise Price | of Options | Exercise Price | |||||||||||||||||||||||||||||
Outstanding at January 31, 2021 | 1,231,601 | $ | 36.77 | 173,563 | $ | 7.51 | ||||||||||||||||||||||||||
Outstanding at January 30, 2022 | 933,379 | $ | 42.50 | 73,554 | $ | 8.33 | ||||||||||||||||||||||||||
Granted | — | — | — | — | 36,844 | 47.71 | — | — | ||||||||||||||||||||||||
Exercised | (151,902 | ) | 16.61 | (70,122 | ) | 6.90 | (160,091 | ) | 34.95 | (6,059 | ) | 8.69 | ||||||||||||||||||||
Forfeited | (9,838 | ) | 44.53 | — | — | (7,855 | ) | 58.42 | — | — | ||||||||||||||||||||||
Outstanding at August 1, 2021 | 1,069,861 | $ | 39.57 | 103,441 | $ | 7.91 | ||||||||||||||||||||||||||
Outstanding at May 1, 2022 | 802,277 | $ | 44.08 | 67,495 | $ | 8.30 | ||||||||||||||||||||||||||
Exercisable at August 1, 2021 | 1,005,392 | $ | 38.76 | 103,441 | $ | 7.91 | ||||||||||||||||||||||||||
Exercisable at May 1, 2022 | 765,433 | $ | 43.91 | 67,495 | $ | 8.30 | ||||||||||||||||||||||||||
Wtd. Avg. | ||||||||
Shares | Fair Value | |||||||
Outstanding at January 30, 2022 | 922,799 | $ | 24.88 | |||||
Granted | 485,522 | 47.17 | ||||||
Performance adjusted units | 11,808 | 46.75 | ||||||
Vested | (88,086 | ) | 47.46 | |||||
Forfeited | (41,212 | ) | 51.66 | |||||
Outstanding at May 1, 2022 | 1,290,831 | $ | 31.07 | |||||
Shares | Wtd. Avg. Fair Value | |||||||
Outstanding at January 31, 2021 | 1,116,341 | $ | 17.32 | |||||
Granted | 226,153 | 50.60 | ||||||
Performance adjusted units | 362,491 | 15.30 | ||||||
Vested | (565,616 | ) | 15.11 | |||||
Forfeited | (49,615 | ) | 37.64 | |||||
Outstanding at August 1, 2021 | 1,089,754 | $ | 23.78 | |||||
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations |
Thirteen Weeks | Thirteen Weeks | |||||||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||||
Thirteen Weeks Ended August 1, 2021 | Thirteen Weeks Ended August 2, 2020 | May 1, 2022 | May 2, 2021 | |||||||||||||||||||||||||||||
Food and beverage revenues | $ | 123,006 | 32.6 | % | $ | 17,002 | 33.4 | % | $ | 151,912 | 33.7 | % | $ | 85,758 | 32.3 | % | ||||||||||||||||
Amusement and other revenues | 254,632 | 67.4 | 33,831 | 66.6 | 299,189 | 66.3 | 179,582 | 67.7 | ||||||||||||||||||||||||
Total revenues | 377,638 | 100.0 | 50,833 | 100.0 | 451,101 | 100.0 | 265,340 | 100.0 | ||||||||||||||||||||||||
Cost of food and beverage (as a percentage of food and beverage revenues) | 33,127 | 26.9 | 4,659 | 27.4 | 43,255 | 28.5 | 23,157 | 27.0 | ||||||||||||||||||||||||
Cost of amusement and other (as a percentage of amusement and other revenues) | 24,584 | 9.7 | 4,025 | 11.9 | 26,766 | 8.9 | 16,614 | 9.3 | ||||||||||||||||||||||||
Total cost of products | 57,711 | 15.3 | 8,684 | 17.1 | 70,021 | 15.5 | 39,771 | 15.0 | ||||||||||||||||||||||||
Operating payroll and benefits | 80,623 | 21.3 | 13,756 | 27.1 | 93,361 | 20.7 | 50,279 | 18.9 | ||||||||||||||||||||||||
Other store operating expenses | 105,116 | 27.9 | 62,682 | 123.2 | 124,425 | 27.5 | 84,445 | 31.9 | ||||||||||||||||||||||||
General and administrative expenses | 18,470 | 4.9 | 9,278 | 18.3 | 28,297 | 6.3 | 17,091 | 6.4 | ||||||||||||||||||||||||
Depreciation and amortization expense | 34,875 | 9.2 | 35,160 | 69.2 | 33,288 | 7.4 | 35,099 | 13.2 | ||||||||||||||||||||||||
Pre-opening costs | 1,676 | 0.4 | 2,388 | 4.7 | 2,997 | 0.7 | 1,659 | 0.6 | ||||||||||||||||||||||||
Total operating costs | 298,471 | 79.0 | 131,948 | 259.6 | 352,389 | 78.1 | 228,344 | 86.0 | ||||||||||||||||||||||||
Operating income (loss) | 79,167 | 21.0 | (81,115 | ) | (159.6 | ) | ||||||||||||||||||||||||||
Operating income | 98,712 | 21.9 | 36,996 | 14.0 | ||||||||||||||||||||||||||||
Interest expense, net | 13,728 | 3.7 | 8,163 | 16.0 | 11,391 | 2.5 | 14,820 | 5.6 | ||||||||||||||||||||||||
Income (loss) before provision (benefit) for income taxes | 65,439 | 17.3 | (89,278 | ) | (175.6 | ) | ||||||||||||||||||||||||||
Provision (benefit) for income taxes | 12,669 | 3.3 | (30,676 | ) | (60.3 | ) | ||||||||||||||||||||||||||
Income before provision for income taxes | 87,321 | 19.4 | 22,176 | 8.4 | ||||||||||||||||||||||||||||
Provision for income taxes | 20,337 | 4.6 | 2,541 | 1.0 | ||||||||||||||||||||||||||||
Net income (loss) | $ | 52,770 | 14.0 | % | $ | (58,602 | ) | (115.3 | )% | |||||||||||||||||||||||
Net income | $ | 66,984 | 14.8 | % | $ | 19,635 | 7.4 | % | ||||||||||||||||||||||||
Change in comparable store sales (1) | 690.8 | % | (87.0 | )% | 71.1 | % | 56.5 | % | ||||||||||||||||||||||||
Company-owned stores at end of period (1) | 142 | 137 | 145 | 141 | ||||||||||||||||||||||||||||
Comparable stores at end of period (1) | 114 | 115 | 113 | 114 |
(1) | As of the end of the |
Thirteen Weeks Ended August 1, 2021 | Thirteen Weeks Ended August 2, 2020 | Thirteen Weeks | Thirteen Weeks | |||||||||||||||||||||||||||||
Net income (loss) | $ | 52,770 | 14.0 | % | $ | (58,602 | ) | -115.3 | % | |||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||||
May 1, 2022 | May 2, 2021 | |||||||||||||||||||||||||||||||
Net income | $ | 66,984 | 14.8 | % | $ | 19,635 | 7.4 | % | ||||||||||||||||||||||||
Interest expense, net | 13,728 | 8,163 | 11,391 | 14,820 | ||||||||||||||||||||||||||||
Provision (benefit) for income taxes | 12,669 | (30,676 | ) | |||||||||||||||||||||||||||||
Provision for income taxes | 20,337 | 2,541 | ||||||||||||||||||||||||||||||
Depreciation and amortization expense | 34,875 | 35,160 | 33,288 | 35,099 | ||||||||||||||||||||||||||||
EBITDA | 114,042 | 30.2 | % | (45,955 | ) | -90.4 | % | 132,000 | 29.3 | % | 72,095 | 27.2 | % | |||||||||||||||||||
Loss on asset disposal | 112 | 264 | 216 | 145 | ||||||||||||||||||||||||||||
Impairment of long-lived assets and lease termination costs | — | 2,178 | ||||||||||||||||||||||||||||||
Share-based compensation | 3,187 | 2,734 | 3,555 | 2,971 | ||||||||||||||||||||||||||||
Pre-opening costs | 1,676 | 2,388 | 2,997 | 1,659 | ||||||||||||||||||||||||||||
Other costs (1) | 135 | (88 | ) | 4,479 | (165 | ) | ||||||||||||||||||||||||||
Adjusted EBITDA | $ | 119,152 | 31.6 | % | $ | (38,479 | ) | -75.7 | % | $ | 143,247 | 31.8 | % | $ | 76,705 | 28.9 | % | |||||||||||||||
(1) | Primarily represents costs related to |
Thirteen Weeks Ended August 1, 2021 | Thirteen Weeks Ended August 2, 2020 | Thirteen Weeks | Thirteen Weeks | |||||||||||||||||||||||||||||
Operating income (loss) | $ | 79,167 | 21.0 | % | $ | (81,115 | ) | -159.6 | % | |||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||||||
May 1, 2022 | May 2, 2021 | |||||||||||||||||||||||||||||||
Operating income | $ | 98,712 | 21.9 | % | $ | 36,996 | 14.0 | % | ||||||||||||||||||||||||
General and administrative expenses | 18,470 | 9,278 | 28,297 | 17,091 | ||||||||||||||||||||||||||||
Depreciation and amortization expense | 34,875 | 35,160 | 33,288 | 35,099 | ||||||||||||||||||||||||||||
Pre-opening costs | 1,676 | 2,388 | 2,997 | 1,659 | ||||||||||||||||||||||||||||
Store Operating Income Before Depreciation and Amortization | $ | 134,188 | 35.5 | % | $ | (34,289 | ) | -67.5 | % | $ | 163,294 | 36.2 | % | $ | 90,845 | 34.2 | % | |||||||||||||||
Thirteen Weeks | Thirteen Weeks | |||||||||||||||
Ended | Ended | |||||||||||||||
Thirteen Weeks Ended August 1, 2021 | Thirteen Weeks Ended August 2, 2020 | May 1, 2022 | May 2, 2021 | |||||||||||||
New store and operating initiatives | $ | 12,611 | $ | 1,921 | $ | 35,131 | $ | 7,145 | ||||||||
Games | 9,443 | 810 | 1,512 | 3,171 | ||||||||||||
Maintenance capital | 6,402 | 838 | 6,311 | 1,888 | ||||||||||||
Total capital additions | $ | 28,456 | $ | 3,569 | $ | 42,954 | $ | 12,204 | ||||||||
Payments from landlords | $ | 2,085 | $ | 4,014 | $ | 713 | $ | — |
Thirteen Weeks Ended | Thirteen Weeks Ended | |||||||||||||||||||||||
August 1, 2021 | August 2, 2020 | Change | May 1, 2022 | May 2, 2021 | Change | |||||||||||||||||||
Total revenues | $ | 377,638 | $ | 50,833 | $ | 326,805 | $ | 451,101 | $ | 265,340 | $ | 185,761 | ||||||||||||
Total store operating weeks | 1,817 | 628 | 1,189 | 1,876 | 1,633 | 243 | ||||||||||||||||||
Comparable store revenues | $ | 317,882 | $ | 40,199 | $ | 277,683 | $ | 368,477 | $ | 215,406 | $ | 153,071 | ||||||||||||
Comparable store operating weeks | 1,458 | 493 | 965 | 1,469 | 1,290 | 179 | ||||||||||||||||||
Noncomparable store revenues | $ | 67,288 | 10,437 | $ | 56,851 | $ | 89,150 | 58,498 | $ | 30,652 | ||||||||||||||
Noncomparable store operating weeks | 359 | 135 | 224 | 407 | 343 | 64 | ||||||||||||||||||
Other revenues and deferrals | $ | (7,532 | ) | $ | 197 | $ | (7,729 | ) | $ | (6,526 | ) | $ | (8,564 | ) | $ | 2,038 |
Thirteen Weeks Ended | ||||||||
May 1, 2022 | May 2, 2021 | |||||||
Food sales | 22.5 | % | 22.2 | % | ||||
Beverage sales | 11.2 | % | 10.1 | % | ||||
Amusement sales | 65.9 | % | 67.5 | % | ||||
Other | 0.4 | % | 0.2 | % |
Twenty-Six WeeksEnded August 1, 2021 | Twenty-Six WeeksEnded August 2, 2020 | |||||||||||||||
Food and beverage revenues | $ | 208,764 | 32.5 | % | $ | 80,922 | 38.4 | % | ||||||||
Amusement and other revenues | 434,214 | 67.5 | 129,717 | 61.6 | ||||||||||||
Total revenues | 642,978 | 100.0 | 210,639 | 100.0 | ||||||||||||
Cost of food and beverage (as a percentage of food and beverage revenues) | 56,284 | 27.0 | 22,003 | 27.2 | ||||||||||||
Cost of amusement and other (as a percentage of amusement and other revenues) | 41,198 | 9.5 | 14,753 | 11.4 | ||||||||||||
Total cost of products | 97,482 | 15.2 | 36,756 | 17.4 | ||||||||||||
Operating payroll and benefits | 130,902 | 20.4 | 57,493 | 27.3 | ||||||||||||
Other store operating expenses | 189,561 | 29.4 | 158,354 | 75.3 | ||||||||||||
General and administrative expenses | 35,561 | 5.5 | 23,841 | 11.3 | ||||||||||||
Depreciation and amortization expense | 69,974 | 10.9 | 70,512 | 33.5 | ||||||||||||
Pre-opening costs | 3,335 | 0.5 | 6,211 | 2.9 | ||||||||||||
Total operating costs | 526,815 | 81.9 | 353,167 | 167.7 | ||||||||||||
Operating income (loss) | 116,163 | 18.1 | (142,528 | ) | (67.7 | ) | ||||||||||
Interest expense, net | 28,548 | 4.5 | 14,278 | 6.7 | ||||||||||||
Income (loss) before provision (benefit) for income taxes | 87,615 | 13.6 | (156,806 | ) | (74.4 | ) | ||||||||||
Provision (benefit) for income taxes | 15,210 | 2.3 | (54,660 | ) | (25.9 | ) | ||||||||||
Net income (loss) | $ | 72,405 | 11.3 | % | $ | (102,146 | ) | (48.5 | )% | |||||||
Change in comparable store sales (1) | 199.1 | % | (72.2 | )% | ||||||||||||
Company-owned stores at end of period (1) | 142 | 137 | ||||||||||||||
Comparable stores at end of period (1) | 114 | 115 |
Twenty-Six WeeksEnded August 1, 2021 | Twenty-Six WeeksEnded August 2, 2020 | |||||||||||||||
Net income (loss) | $ | 72,405 | 11.3 | % | $ | (102,146 | ) | -48.5 | % | |||||||
Interest expense, net | 28,548 | 14,278 | ||||||||||||||
Provision (benefit) for income taxes | 15,210 | (54,660 | ) | |||||||||||||
Depreciation and amortization expense | 69,974 | 70,512 | ||||||||||||||
EBITDA | 186,137 | 28.9 | % | (72,016 | ) | -34.2 | % | |||||||||
Loss on asset disposal | 257 | 417 | ||||||||||||||
Impairment of long-lived assets and lease termination costs | — | 13,727 | ||||||||||||||
Share-based compensation | 6,158 | 2,345 | ||||||||||||||
Pre-opening costs | 3,335 | 6,211 | ||||||||||||||
Other costs (1) | (30 | ) | 59 | |||||||||||||
Adjusted EBITDA | $ | 195,857 | 30.5 | % | $ | (49,257 | ) | -23.4 | % | |||||||
Twenty-Six WeeksEnded August 1, 2021 | Twenty-Six WeeksEnded August 2, 2020 | |||||||||||||||
Operating income (loss) | $ | 116,163 | 18.1 | % | $ | (142,528 | ) | -67.7 | % | |||||||
General and administrative expenses | 35,561 | 23,841 | ||||||||||||||
Depreciation and amortization expense | 69,974 | 70,512 | ||||||||||||||
Pre-opening costs | 3,335 | 6,211 | ||||||||||||||
Store Operating Income Before Depreciation and Amortization | $ | 225,033 | 35.0 | % | $ | (41,964) | -19.9 | % | ||||||||
Twenty-Six Weeks Ended August 1, 2021 | Twenty-Six Weeks Ended August 2, 2020 | |||||||
New store and operating initiatives | $ | 19,756 | $ | 40,522 | ||||
Games | 12,614 | 8,718 | ||||||
Maintenance capital | 8,290 | 1,780 | ||||||
Total capital additions | $ | 40,660 | $ | 51,020 | ||||
Payments from landlords | $ | 2,085 | $ | 4,014 |
Twenty-Six Weeks Ended | ||||||||||||
August 1, 2021 | August 2, 2020 | Change | ||||||||||
Total revenues | $ | 642,978 | $ | 210,639 | $ | 432,339 | ||||||
Total store operating weeks | 3,450 | 1,461 | 1,989 | |||||||||
Comparable store revenues | $ | 534,827 | $ | 178,835 | $ | 355,992 | ||||||
Comparable store operating weeks | 2,761 | 1,190 | 1,571 | |||||||||
Noncomparable store revenues | $ | 124,247 | 34,671 | $ | 89,576 | |||||||
Noncomparable store operating weeks | 689 | 271 | 418 | |||||||||
Other revenues and deferrals | $ | (16,096 | ) | $ | (2,867 | ) | $ | (13,229 | ) |
Item 3. | Quantitative and Qualitative Disclosures About Market Risk |
Item 4. | Controls and Procedures |
Item 1. | Legal Proceedings |
Item 1A. | Risk Factors |
Item 2. | Unregistered Sales of Equity Securities |
Item 6. | Exhibits |
* | Filed herein |
DAVE & BUSTER’S ENTERTAINMENT, INC., a Delaware corporation | ||||||
Date: | By: | /s/ |
Kevin M. Sheehan | ||||||
Interim Chief Executive Officer | ||||||
Date: June 7, 2022 | By: | /s/ Michael A. | ||||
Michael A. Quartieri | ||||||
Chief |