PLAY - Earnings call transcript Q3 2020 | Dave & Buster's Entertainment, Inc.

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Operator

Good afternoon everyone. Welcome to the Dave & Buster's Entertainment, Incorporated Third Quarter 2020 Earnings Results Conference Call. Today's call is being hosted by Brian Jenkins, Chief Executive Officer. He will be joining the call by Scott Bowman, Chief Financial Officer; and Margo Manning, Chief Operating Officer. I’d like to remind everyone that this call is being recorded and will be available for replay beginning later today.

to remarks. conference like Bowman to would opening for I turn over the Scott Now, ahead. go Please

Scott Bowman

Thank you, you and thank us today. for all joining

future we statements Private discussed, of to Any available our should risk the on the within to risks XXXX. such with Before of filings responses our forward-looking from cause historical Securities to events our on discussion fact. which actual results, differ which www.daveandbusters.com items our related not our like at may be entirely website in on uncertainties, Information certain I'd factors Investor on be to the SEC, subject remarks the and and items call are meaning under All those fact Litigation considered of the Reform company's attention anticipated. to the these questions, to forward-looking that results which uncertainties Act in statements the have Relations your begin, are and could published are section. based been

accounting the remarks income non-GAAP GAAP today operating is EBITDA, Investors to EBITDA, defined to afternoon, adjusted available will are are contained generally references results review these our the measures which conclude also store not under accepted our released in our amortization, should this that depreciation and financial reconciliation and before announcement of addition, which comparable principles. website. measures In earnings on

to call the Brian. Now, over turn I will

Brian Jenkins

I agility, extremely proud our a and and afternoon to what their behalf challenging team your we time for Good and under safe history. continue Scott. be we to hope you extremely tremendous On team, healthy be of are of circumstances. you, Thank D&B today. and during remaining succeeding families our continues entire resilience appreciate commitment joining their difficult everyone the in our call to you nation’s

and as calls, one, stores possible; re-open two and efficiently key are and our quickly a As future focus on of near-term – quarter. update our Scott of our as beyond chance and safely our And an our thoughtfully to on has change then third fourth we after service speak We I’ll for to position those we our two in had COVID. and to a And accelerate I priorities our menu, believe first quarter. successful also will operate have those business in previous thrive marketing. programming, and the a priorities those will discussed two, second, to, number priorities very results QX the fronts, on both now. on had third to review Margo the expectations provide model,

new we finished and Hampshire; two closure During We our store of stores progress, stores, and opening the with brand with performance. This began third one operating and quarter Lehigh, driving base. Pennsylvania; Valley included XX% and XX quarter, the one total in XXX, improved in Texas. reopening open representing the New made significant Manchester, store of in of one the permanent Houston, stores

revenues late an rate reduced well. we our lean revenue cash as stores our of index also the when reopened we of quarter the Four around their XX%. drove quarter XXXX above improved operational our at as quarter quarter sales in Comp reopened generated comp with the from XX% discipline XX% week. course our sales With in improvement a continued to the second sales operating at XX% the of XX that second sales operational for we top the combined Over peaking progressed, quartile an XX% model, meaningful comp to average EBITDA of improving relative stores. had burn in the and at over fully October a generating index progress stores XXXX quarter, levels reaching fully XXXX up our same trend and stores with made That’s of levels. rebuilding average the

due third during within through Buster’s XX EBITDA this a our and In dollars XX reopened of opened store breakeven few quarter of million positive so Dave plan for month to our November of credit on achieved the level stores the XXX solidified $XXX fact, stores and facility. October, us and the even did of of of enterprise completely game believe the environment. quarter, the month loan recovery level secured used bringing enhanced million our closed. resilience down and with sales illustrates proceeds during an all We balance XXXX. pay-off for available third our our senior along our the pay that profitability revolving of for we with stores our level at Also York New to brand return and the the to term in quarter third unique & and California strong stores liquidity clearly COVID the still We issuing sheet of majority significantly our store successfully validates to notes by in navigating cash

As resulting maturities under also horizon. our a significantly covenants through debt two-year certain liquidity August our at to with secured term XXXX. million of liquidity our bond stood modifications the the the total $XXX on at in our conjunction a quarter, of revolver result, available In no extending end XXXX credit until extension debt offering, facility and we

the are third accomplishments during we with pleased very the performance On and whole, quarter. our

restrictions as COVID states the and arcade has you of aware, around and jurisdictions November. to led renewed resurgence store place is operation local the of and infections the country on in are month all restaurants to re-closings causing Now

this third with view these of loss quarter, a turn the temporary Despite an November. setback. events, first are this intensify a As And weeks exceptional And higher in other we even our stronger passes. navigate financial plan, a I the our insights of over a significant quarter. COVID Bowman, wave Scott overall pressures of and CFO, the really result, Scott? out well-positioned EBITDA this to moderated ability in touch midst we about limitations. side optimistic on expect the to team, some strong and pace on this of through period quarter fourth causing At our the going this resurgence sequentially quarter recovery sales provide as extremely resilient recent the ask to we COVID through remainder the And of how to and on broad brand. another managing when of renewed fourth liquidity time, over the I’m of are the we’re highlights come five the

Scott Bowman

call quarter. Brian, quarter time for expectations I’ll performance Thanks, And us position. the for I’ll provide today. current our our some some first everyone then third to summarizing liquidity thanks joining spend and on the fourth and

$XXX August, decreased XX%, revenues the with of in in By For XX% compared were comparable decrease negative store in period, sales. reflecting prior comparable year XX% negative September, the total million negative in XX% month, October. third XX% sales a quarter, store

compared like For would performance month, comparable stores that open period provide details the periods, these last were by also to fully year. I some same and operational with for

XX%. XX August, For open our index comparable stores sales a of produced

stores For sales XX comparable And sales XX%. XX open September, of to our XX% prior open for a index year. stores comparable the compared October, posted a index of produced

to total beverage, sales last amusements mix, for sales accounting other to year. As continued for compared XX% of outperform and XX% food and

Other food XX.X% these was primarily of balance by costs in stores due to model. expensed last was million, maintenance, the in sales expense year, marketing, and the rent and labor managing amusement XX% and spoilage year. to quarter, succeeded variable savings prior margin benefits of higher continued decline base, XX% compounded to we points million, the as equal due abatements. XXX decrease from payroll was period from sales, to beverage lower to the prior execution primarily P&L, improved the reopened. and year, due basis expense offset of expenses and the stores of operating the open sales, store Despite Turning a mix fewer that XX.X% gross Operating $XX.X to $XX.X of primarily as partially a leaner to lower of same return a

G&A from of $XX.X a to versus As store due outside million accrual million fees. advisory a of to decreased consulting and deleveraging the last percent legal expense expense, higher expense was on fees. year, percentage occupancy expense. year. Consulting XX.X% savings lower mainly to The to expense expense, operating and reversal mainly other related of was declined of XX.X% $X.X effect due partially sales the sales, million, sales prior XX% due compensation $X.X

to lower As compared a of XX.X% mainly X.X% same percent the period sales. due expense of last year, for effect was G&A sales, the deleveraging to

EBITDA compares to quarter Third the quarter. rate $XX loss the rate Adjusted $XX.X $X.X of per per week a EBITDA reflecting loss which in of week, quarter. burn for million X.X an million, million million second was was average EBITDA burn

net the was $XXX balance facility, under of the and to $XX at minimum liquidity of in the million stood million our $XXX outstanding revolving notes $XXX million sheet, consisting quarter, at we of recently and $X covenant. quarter in availability the $XXX which credit Total million debt Turning secured with long-term cash issued revolver. million our of senior end ended our on million

totaled end Additionally, We the payables, at of of approximately of vendor approximately million end which $XX Deferred compared the rent at quarter, million compares approximately million $XX deferred the the end to of approximately quarter. we have end in second $X had $XX quarter, at approximately plan the at quarter. the year. of fiscal the remaining second third payables end the $XX deferred the million million of at with the to

of rent deferrals, beginning but landlords Also to with January repayment over getting months and negotiate to level in XX refunds months continue to further expect received of refund We of extending some the CARES for period. time quarters. XX additional expect million third million next related of XXXX Act the during couple quarter, we over and approximately $XX the to tax $XX a approximately be

to an temporary our adjustments primarily de rate weekly an our and rate. capital rate. improved the deferred improved netted due cash burn to activities, had overall When minimis cash payables together, effect to burn deferred weekly rent EBITDA financing by offset on the CARES million tax burn refund Excluding Act related due working $X.X

stores spending, the store of capital Greenwood, Jersey in construction completed and new additional and we one opening two and fiscal on New Indiana Gloucester, to recently XXXX. by planning end Turning opened

summary, accelerating for projects gains which the service gain efficiency include investments our to plan we that menu trends to XXXX, model $XX reopened in certain we investments, $XX tenant million model. and operating high-speed stores. efficiency operating kitchen Additionally, in the fourth items. reflected results allowances. on third of our contributed million expect In efficiency improve our projects two these our These for in sales approximately validated [indiscernible] quarter, encouraging CapEx in capital for equipment to have fiscal stores to and Including lean quarter net to spend

over liquidity from continue sufficient the a as next Additionally, the going doubt operations, the obligations in the a projected about has company the of believes ability and alleviated improved period. concern it company company’s to to position XX-month substantial result has cash company’s as flows satisfy the liquidity its the

five we While a ability stores. performance, first are new or This further of and the weeks XXX open encouraged experienced XX the has store naturally reopen has had quarter. delays of during fourth have for very now store third re-closures negative we the comparable resurgence and in the quarter the COVID country of the negative around the limitations, overall recent the chain open first resulted company’s have After the with XX% sales by ending quarter. performance weeks our operating on stores, impact of in stores XX% five to

stores, operating COVID XX%, last had to average mandated fully in comp index our which hours. have For of we approximately due concerns XX reductions year, an heightened and experienced mainly operational been to compared of

COVID slowdown the resulting in XXXX. of anticipate that currently will For a business. actions our be the of at XX% in events likely an in negative we in sales special will November, $X.X and will especially a to jurisdictions EBITDA million. the profitability, loss York foot robust fourth early traffic delayed These have and weekly reopening until intensify New We balance million, our month and $XX.X and a quarter month high cases which December burn the California of resulting rate that and impactful $XX of resulted historically of comp sales benefited a of be and conditions the stores from million local by trend EBITDA over

anticipated coupled further expect Given pressures, with cost quarter EBITDA. these comparable store in sales expectations, erosion our we and fourth

is store to talent quarter capabilities. key One our of the to decision to ensure leadership labor, positions recall the primary expected maintain reflecting fourth cost pressures restart and during store store

reduction of to We up also costs to standard, G&A based due costs to landlord to above-normal agreements and ensure maintenance to positions repair due on and as stores closures, abatements plan the we expiration of increased spoilage recall are [these]. prolonged select incur rent the

to this resurgence we resurgence over near-term, it I’ll setback turn playbook to navigate While will the feel confident in will once With our demand and back results this return have temporary impact through Brian. the that, subsides. that

Brian Jenkins

Scott. our setback third future our trends the encouraged quarter business, enhanced we’re to potential in very Despite sales the our due demonstrated temporary our Thanks, liquidity. recent in resilience about and

Another accelerate change that COVID marketing. before is we model, confident were to in strategic menu, and very arrived, developing reason service initiatives preparing programming, to and even feel we implement our

Over past a for team our & designed enabling months, and a engagement, plan relevance with to Dave to us the nine new COVID worked operate to beyond future has same broaden while at the create more efficiently. time Buster’s enhance guest our

of we our our and we’re she Margo guests the XX-year our team, begin professionalism, to for in Buster’s service about us element initiatives, confidence has the is to execution current position strategic competitive past the forward and initiatives us together being led menu a our years. of very gained of in help we role to future And current back making in have discipline. Margo driven & of Chief and and put limitations. today level COVID response four is welcome game managers, her stores, investments been and will with Manning. strong Much and we more teamwork, join reopened from our our believe ask Officer, information of store her COVID the when with store model share I’ll Margo emerge Dave in to which incredible veteran our we’ve plan. each plan a by Operating reopening implementation As that

Here’s Margo.

Margo Manning

our for this Brian, highlight operating opportunity done you, the job reopening our teams exceptional to stores. have Thank

to been The level each To-date, market onset performance stores to and guests team’s effort, these takes our cleared the pandemic. team were is And quickly. up our number the our demonstrated of As profitability great we’ve X,XXX has approximately extremely the the good, enormous reopening, been has furlough team for the reopening about staff. seeing get we of able store This welcome fun. conditions. almost forced I’m part back through of bringing members, ability and back back recall clean to half been it’s at them for stores unprecedented their toward headed best proud

research, refining in menu for initiative our our As planning is objective developed to a said, service inspired establish brand. had Brian team has The our we Buster’s to COVID plan we’re primary have American and originally the kitchen and to a of a life been it roll to stronger already built differentiated and we Dave number that landed on initiatives identity before implementing out XXXX. XXXX. menu & food extensive model of After bring in identity as and we have arrived

quality It fast. identity guests new items, new in historic across menu flavors new familiar to execution, while deliver hot of to price is also balanced a to offering number our to staff ingredients and guests up of enhanced Our dishes this our flavors them margins. our maintain gross simplify operational selection menu and food a dishes. Designed sets rooted enables our to convinced explore

expect to guest food table to drive to towards improved menu beverage experience our sales. increasing accelerate food new and our increase attachment Taken together, and rates all turn, an we aimed

Our new with program our wait staff menu cooking profiles training from everything dedicated techniques. supported kitchen flavor that a is educates on to and

we new spring. operational of improvements the began temporary the to in XX-item And to times. reopen in In our first kitchen flow up we menu we’re menu food, piece XXXX. to facilitate every from will of transition last management that rolling a to as kitchen store meaningful the we cooking will speed out seamless upgrading stores completed that Additionally, both the also that equipment competence implemented of of new mid-November, system are be a began our half

offering We are XX% than early and currently XX menu. represents add our by to amazing six on more and XX late items to dishes plan in now items fewer This XX items the March expand pre-COVID items April.

will expansion and timeline Of to remain the the adjust menu prepared on course, pandemic. based in terms the accordingly status we of we’re of flexible

that control focus team service our to up goal primary level their initiative, and enable experience We to consists nucleus a to of to will The pay order web their are free with believe of contactless enhance members and enable a overall to our guests mobile effort increased deploying in-store the combination a up-selling. and Turning tablet, interaction more guests here cross-selling experience. the experience. on completely of kiosk, this to

stores both approach received hybrid five have and new initially, new this [indiscernible] were our ways it’s team Our the adopted launched whom and member. platform on guests, most technology utilizing well the of a been of by

technology during service expand we and all to stores As of this this evaluating to to potential model, platform the we are continue refine XXXX. our

Another model of of quarter. involves initiative had and delivery the Dash partnership the service essentially, that stores, reopened stores all at element Uber Eats during XXX our November new of our third-party Door third completely we launch of with the

Our we and plan specific beginning California dining. concepts categories our we’re of locations is our primarily kitchen several food our and to for to highlighting onsite capabilities, expand reach add are finally, And to further open the cast remaining them able our leverage New from menu. stores York new to those kitchen once

as sales full increased Obviously, we’ve that We’re even past more or out the could we major operating be is offered aspects back move rolled seasonally service menu events. posture. regionally the model in of and be the specific overarching not nationally, our objective offered for driving An markets around to months will lean concepts of exploring or sustainable offered nine enhance by profitability long-term adopted towards model efficiently. specific many our or initiative that operating fully

leverage will menu produce levers. we operational are our model some our and degree confident learned lot a that fully cost sustainable and major of have across service However, post-COVID,

call and any to questions. closing for his Brian remarks to the remain on Now, answer I’ll back will turn the call

Brian Jenkins

your ongoing so for And thank Thanks, love to both this much. dedication much and your you leadership commitment Margo. so that and company team’s we

thank you So for that.

been Margo in are next expansion even initiative execute the to fully to our as we working our the that model menu poised this of during will level midst our service As also phases conditions refined success. of and have on support period two indicated, limitations. We’ve improve a COVID market

use addition believe new we our that to relevance programming to to drive In and as recovery will reopened of are able operations. stores we return investments, strategies we those some to full test

station, manage D&B system-wide in Walls enables cloud-based to example, high-visibility store. radio WOW system on our programming we in-store centrally and a deployed other For launched Live and digital us that a each video screens

programming We sports also respond events fall immersive tastings watch how experience guests like vendor-managed and at DJs experimented with a this to beverage to select stores. see engaging our featuring more live

We’re position be learning’s them to ease. and COVID a to our as tests and these taking from programming restrictions in the refining strategies event expand

Additionally game. our exclusive quarter, as their launched Lightsaber of Dojo that to Wars multiple recovery the business game non-redemption pace quickly In top-earning determine extent game the we’ll broad itself third during Star buy, the to our watch we QX, we’ll single-player our and of titles game time test rollout. established VR XXXX

on COVID brand our We We I’ll a time frame our promotions with agency out campaign we’ve months. platform, events late summer by creative and national continue the today rolling our to recover. relationship along calendar been as early to nine campaign on the reiterating currently September. will spring close expand the for past encouraging. Initial response marketing more And to also the in leverage new anticipate our in trends. launched programming to we game, with been and marketing depending conditions has initiatives focused new broadly market re-imagined themes

months those to as our strong we a quickly position brand liquidity team, when been, us begins COVID in threat to and our put are the of plan, that have subside. our our bounce confident back difficult As competitive

prepared this Our experienced we current were team is and far in more resurgence than back for March.

as COVID We game allow. our have ability team’s nimbly our and confidence in in plan execute conditions it to market

conditions. operating of of XX% in XXXX. reopening our liquidity COVID unique to of brand of XX% & and can an for experience to menu, their demand team fresh by model vastly or we’ve enterprise projected available Buster’s. validated teamwork beyond to do, lean a for am the future. that have XXXX difficult new team, us And proud levels. face with demonstrated member customer-centric exist among our to setting fun extending become skills continue for that, inspired more the team success Dave and widely the and better process We of positive drive and very finally, our of produce the And one promise our improved the and while most come that & contributing fluctuating D&B perhaps good and they sales guests Each a the EBITDA greeted menus. vaccines by inspired a to is up ever of in they’ve their and unique return Buster’s be I of threat expect of expected we’ve to extremely at horizon commitment to index D&B the important, the When resilience they’ll clean Dave grateful. a And pent-up be store I more from

We get this through together. will

come on will thrive other going to side out again and XXXX. we in We’re the

up we’d like to for Ali, the call questions. Now, open

Operator

we'll first Of our you. Instructions] go question [Operator ahead. take and Bartlett course. Securities. go Truist from Jake Thank from ahead Please And

Jake Bartlett

the depths has instance seems to, restrictions the in of reclosures, base actually it date mid-October, for been detail change stores markets sales, it that deceleration those in the not, directly the Great. fairly my have and and meaningfully? in have from obviously, us Florida in same in not is in to the have any on you October, on disaggregate question on decelerated stores not impact remain been also that what first have really by you that impacted in being trying the store but the such Thanks open the you gave the stores Brian for imposed, late mathematical stores restrictions from great quarter that have you deceleration had taking in can comp focusing know,

Brian Jenkins

the way. questions good by well Yes. Hope you’re doing Jake. Those are very

Jake Bartlett

well. as You

Brian Jenkins

in has deceleration seen been Thank brought. November you. The have we

don’t really sales, little you we're not nearly would a hours. hours, and is a if you impact a a big facilities, you have bit, of diner, week the us know, certainly to things lot sorts over operating operating those headwind because open, like casual restrictions and still lot you in big of have we a of restrictions, allowed capacity they and So, created know, and many know, capacity performance, know, unused

So, that's not particularly the there. headwind

the So, November, in in have every we that decline have seen virtually been market.

if there's COVID you data the state definitely is the a So, look in Florida, November. Even declining now, most you overhang markets. showing in every website, trends at in know, we virtually put out on state in by

know, think I out some reluctance, to I So, think, you you're seeing guess right nationally now. my really get

Jake Bartlett

Great.

best to I'm efficient XX% same the the sense. some makes couple you My And more out the maybe that. you'd lot of you it's operational a think that is of your around the with to year, how years, profitability like you you work what and into that sales companies need talked is? your way – That not Okay. improvements. a you're have of around on just our be? do know, future, initiatives or something, next if about, question something regain level we would when the menu doing sure When you're of much look a How frame know you sales? achieve the Some

just more is you So, it's really the a extent efficient about going should frame, of can know, way COVID efficient? think to model how be out we that the there you coming more

Brian Jenkins

scrappy today. up lot know, what's and a things, I've know, particularly very we've really some nimble fantastic happening you know, our the down, labor. and you trying about, of talking self P&L and – the in scheduling, terms how with and you job, terms operators, a you grit being know, we've lot on and said, and learned And part I just been of what a the they're mean, the, last is are do mean, doing of over we’re they're we're I service, ways, initiatives not driving to this we’re always of know, in [tablets], month you in labor. really of Yeah,

are So, know, some our getting week. know, [nine you operating operating by a five to – we know, you I you not definitely, we're calendar, hours] efficiencies

the some periods less with efficient the of we of some revenue. where So, are know, less

our know, look talking that about now. the helpful. about, And, talking know, You has we're and looking, operating you and continue Margo really because we're our as it you to are helpful at some move is have forward, you know, more And, going we that's know, of right initiatives forward to calendar we been we that stuff very back test, don't it We extent could we when I some know, be get to you to full the level we're going us. that learned think anticipate But, to to in you – we've par think we things. on team, go management sales know, to normal back helpful level. our we

labor, add York see know, as base up you not California. And on all you now. stick. And But, New for right hourly some to to going some get you us. not know, that, they're it are And think in open I Margo? anything we and cost those north to hard want we're going it's of this stuff turns stick, to is going pressure

Margo Manning

[indiscernible]. seems Nothing

Brian Jenkins

Okay.

Jake Bartlett

Okay. EBITDA what the November. And to helpful see kind rate burn just you're of the very in lastly, is

range, change on going level, be, just out and trying a just here things help to understand that? December, – you EBITDA lower, burn expense, you in of what basis from months. the trying cash get us maybe in you including your you wide of and what kind high just Can on kind to kind know, volume, of they're how but really a of to expect, as might you a cash think it's flow that's a You because idea you interest know, the talked deferrals know, better but fourth quarter, are being free about year-over-year much weeks

Scott Bowman

we is million November as I'll Yeah, know, with a about saw numbers This you you EBITDA, Scott, color bit you $XX know, of come in, Jake. give little loss.

So, at burn you as and X.X was, looking million. we start between X know, that million our month cash

think you I there. a naturally couple know, that to you think you expect, is, a higher about so, do bit have deferrals we to know, our rent have and burn we little out know, things And of cash

You mentioned I having the outside will pretty then around you bit at so, CARES have cash. another million And X on also we're a or know, know, remaining payables, some know, drag Act. you or the – million that, little year. know, But so of that $XX really you deferred good other be thing the paying of our we end dollars, rent, of should down this you of from million is, potential a the know, success

in on those mind kind we of kind see is, you that take think, EBITDA what in know, of of So, November keep that you're, Depending operational may you know the model what example from future. just out from you of hopefully standpoint. helps I and things [indiscernible] an kind

Jake Bartlett

Right. it. helpful. appreciate I That's very

Operator

We'll Farmer take from Haskett. Gordon from Please question go next Jeff our ahead.

Jeff Farmer

curious the special much. quarter in color on party some I'm very sales? you Thank drop just we'll impact looks that provide you store fiscal event if significant pretty your fourth what large on same have like guys a can bookings, and

Brian Jenkins

about better. kind small happy bit. a would the early team on, impact. business December. that overall events. his to that be prepared did said I think little in pretty – going – that bit booking it’s XX% remarks some were to We going a some a lost We I of a and up things special geared too actually we sales ways bet events in And to thoughts Scott really, December month our of represents as Well, of significant in was have

here a not expecting particularly And over special the to the so big we’re course calendar events holidays. of have

our the pretty overall sales. so for And a around headwind. of is big overall And as full-year know, XX% that’s you business party

talking the we’re disclosing events special here of we’re terms a in as hit we of in bit to the those we’re really that pretty index single-digits business figure with get in transparently are no and is – generating face even going high numbers headwind those the of December. is about That that’s here, mix little business. So,

Jeff Farmer

that delivery in of mix us also with then, the That’s sales offer Okay. third-party delivery? you can Anything delivery. that’s you sort stores been, into share terms early I – And in how of a entry helpful. believe the impactful mentioned

Margo Manning

Margo. is this Hi,

So, one. I’ll take this

cost, of So, in brand just we first. with, starting But delivery, third-party low risk. terms an are low it’s entertainment

complete sense us, as space. And view we enter so, this us to And it incremental. into makes it for being for

it. into days early We’re

so, And out rolled in it December. we’ve

We’re it talking about on X.X, literally for being live X.

is the addition because consumer feel for be recognize to going concepts] opportunity impact. promotion going to But be for [stores But us expand an going sort its us. it’s an like we additional to on this, space us fact be in on with looking there because do again, marketing, to working for for to and of that and we’re early experimenting We’re that’s just really us is new for brand experiential it’s what the comment to us.

initiative but for not this So an us. a is game-changing incremental, probably

Jeff Farmer

expect final sort outlined of theoretically appreciate works out been recent is, that. efforts. just stores question, – from an one in closed potentially stores some I math place where the to obviously I And would you to the intensifying you’ve guys of XX mitigation expectation close you additional state Okay. some and to for weeks. question believe have perspective? take those And that a closures But with the

Brian Jenkins

and had a we that’s… couple today, Well,

Margo Manning

kind even They’re us, we’ve you at hours and… coming, seeing of know service certainly or Yeah. coming of terms in rollbacks limited

Brian Jenkins

today. in few We had Maryland a

Margo Manning

[Pennsylvania]. Yeah,

Brian Jenkins

think I that hard eyeing But we’re and stores this some earlier [indiscernible] yet. we they really haven’t had in Mid-Atlantic to the And fall have Northeast, say. been fall. some actually is Midwest to just expecting

going XX The think gets before to and stores. we’re it’s have feel today. going today, get I worse we a lost like to we more little better, lose it two

that going of we there’s the was were I the of facing on future much to brighter but minimize we’re I a going does, a I here. in setback – rollbacks back sight think trying and the And for shutdowns to dial said, thing around optimism lot further vaccine I and see I’m us we’re this just when think but mean, temporary better not there do XXXX. view And – a in it, as March. that’s entire horizon than of don’t is again, nobody I line here. a suspect. we’re alleviate to here, So, back today really a brand

stores good pretty around open have COVID just stay all they’re running better XXXX activity optimistic again, over I open time, sort get we very get this we’re and and days in open close when path think a a get we been going with base even pretty think of with start we’ve stop and we’re these that our of open. what next some that we I been store shot to when my a on the the view, that which And dealing seen still about these way forward has to difficult, to we’re country. and is encouraged

in the as very Now quartile, at at we peak XX%. had I October our encouraging. said, That’s top

to that next very got I’ve stores we’re weather winter said, got just here. to confident bounce going really back. get these open. – for year. And hopeful We as we’re we’re We We’re the to

Jeff Farmer

that. Appreciate you, Thank guys. right. All

Brian Jenkins

Pleasure.

Operator

We’ll question go from take Andrew from Strelzik our ahead. BMO. next Please

Andrew Strelzik

for stories the in seeing I’m that the what question in of farthest taking everyone’s along curious well. doing I’m Thanks hope were sales Hi. about and recovery. – some the curious you’re

or XX that know so you about or the that quartile XX% – at provided that’s, we’re maybe whether in sales XXX% that the or you So deck XX close from index. top or mid-October the

would those you of where margins stores, year kind the before did a look pandemic, compare can mix ago just the that what looked And and for business contrast other like, could the the any and relative helpful. you year a demographics versus what to the how ago like? be If nuances did look share were business color

Brian Jenkins

there. questions A of lot

Andrew Strelzik

overarching question. one Just

Brian Jenkins

the Southeast XXX% close And with, really getting states those stores the the are best were COVID course of to were the on our website. terms if the really the in performing best ones over for sorry. Florida were So, I’m performing that you that and of look us. that the

– in operating done in of actually had were terms than we what of performing the with they stores some model, lean So, were better those those XXXX.

So, that’s sort of the news. good

the a and back well, now will [indiscernible] In Carolina, locations we of this here right levels Georgia now. again, also be Florida, resurgence, they’ve know of terms those are of gone are across, declining bit a states so of quite And recently performing but were what’s number dropping all you some think were. it they’re happened that South it’s other boats the suffering temporary at with – really temporary

Andrew Strelzik

much That was ... pretty

Brian Jenkins

The your I male, little Margo still little seeing here, think demographics a we’re are where more more adult, – I think, a but…

Margo Manning

to been for start a opened, come after of it they back gateway. of start And pre-COVID But open little a look when them then have while. the settle sort the We seeing families different. initially sort does stores back the to

Andrew Strelzik

the you And so very theme And kind curious, that great. of then, COVID, intrusion the forward. think competitive business. could been very that of as expect before have able environment, to been kind what years? competitive kind you’ve kind That’s evolve couple that you had, that how key moving a for just dig Okay, of of change helpful. on seen how I’m forward closure next far you perspective the over or of we or from quantify in move to

Brian Jenkins

[Technical apologize quite we here? So, on closures Issues]

Scott Bowman

Competitive.

Brian Jenkins

closures? Competitive

Andrew Strelzik

Yeah.

Brian Jenkins

competitive We’re tracking seeing, kind competitive in of what And have. set now bag mixed set you right I there’s we of think others many and of a right the the terms are now. in we’re terms

largely largely where Top] talked now. of about that that them in others of the down. Event in we’ve Some are right [indiscernible] [Main are some open then, particular And there are closed ones and years, recent

with that demand, closures, mixed it’s store bag. feeling grappling all is with issues. My softer definitely So a liquidity we’re dealing

feeling as is Others definitely my a store We well. certainly. that to and openings did a going we’re did and that that. see we so, in saw rollback And decrease

a on to a as really do. bit trying people we’re definitely going their I are what business. think we’re concentrate going of core slowdown to That’s to see

reopen We profitability to business. our to in best concentrate is driving – going are brand getting our the recovering a path existing store base and as

here that expect do for to to of be And surprised seen some these soon some with resurgence, brands. the bit in other of think wouldn’t pipeline. see And of websites, so a few. be see I our couple delays that on we’ve competitors. think a a I shakeout of And focus our And already going of coming And going what some is. that’s this with I there’s – I a of do might those that’s would be the in that signs some the you focus to

this very being be store than going – in well path getting that’s our base That’s really pipeline. models, on returns internally that we I we us going we’re ours And our and most store And We’re because very we the to of have clearest about concentrating us. margins, serving I that open. as were be measured recovery for have Again, competitive think to development the there the I’m this set for it, basis. on entire best AUVs, in strong I into operating confident as And nimble. better before right on of very not – pre-COVID these think, and doing now. ever we’re those of think coming terms space sure one in said situation I I’m COVID. I’ve competitive think out a terms as calls models same of has don’t that solid And

the it well. So, to that’s we’re best going we’re on really can I do to position going concentrate we’re doing going us to think and what we And do.

Andrew Strelzik

Thank much. Great. you very

Operator

Barish question our Jefferies. from from take now Please ahead. Andrew next We’ll go

Andrew Barish

a store index I understand you the Happy guys. XQ, break in the and to of holidays. back there couple XX just September of hope in jump little A actually little a sales like from quick get ones was ramp Thanks, looking on a up. big Yeah. there trying August the points. coming bit

there? jump. or get open? some what having was kind like changes It So, I’m seemed just a on more to stores and additional the of just trying sense the momentum of just ones was big schools a it of in going Is adding

Brian Jenkins

roll in seeing a it I you was right. and first tape on all showed we month the back [indiscernible]. were But dialed that progression that And through with and pretty of in we back I – have pretty there, resurgence June Well, I sharply for there. then, in the air – mean, happened September, steady laid then, really back up. we out and think on were July, We mean, moving the the we if And we TV the kind quickly and time a long-time. August of –

the The were were we it say in was dollars actually brand cancel. with that on I now, appetite for improving Right actually work. to powder season, new combination them to a time – weeks. had And waning is September, September, was launched sort I out open perfect more of came some for These consumer we not that us of to not a and when upstream think on, were to air. fears was perfect want were and the guests here put But a and for we’re happening media had a we that opening. we was And that the because appetite at It investment. sort time. some we out that cancelled in unable over COVID swimming had is and some what’s timing something looking which and we’re in five not for save of stores us I more we plans subsiding we So, that now. increasing stores get actually holiday September. dollars meaningful are think was delayed helpful fears campaign, for the really to we right it

Andrew Barish

fans you obviously you get of as of that as look Yeah. XXXX? the on as That’s are been helpful etcetera side difficult sports, football, things, you how and noticeable to and seen weekend games, sporting the to about do events, – have well. in those Wow of to rollout And thinking out that on increases kind Wall then, out light for you it’s programming secondly, understanding

Brian Jenkins

don’t them have really out And this We about WOW at little those for Yeah. bit not differently pick it materially for XX now. in right now. We Walls. little took to us. performed further days. a us has well on rollout we the had up discounting It for working Thursday’s point mean, of prior we’re as been really year. I plans a tougher us did [wings]

got the at programming this go on and to to building work moment, this very Our conservative going number the be we’ve we’re to muscle one, capital the in environment. with company. But view in cautious

lot We have assets a of here.

within facilities. Sports what to we’re doing our going be, to our looking and and see on and to frequency standpoint. And on what things big focused you visit stores. reason that sports experience to be other from improve offering do around drive can that have We an could the know we’re we can we’re we

a running as to few brand muscle So, and is develop was now. fit entertainment trying natural to I’d sports, us get we’re an it a out. for arcade, is, trying It’s right I think get is that for engine this us. natural just we’re fit the that on programming an a But beyond say, cylinders a like

course create of thinking a course visit a of a Just about reason how we to the can and over events calendar and and month year.

in our here. out and Bachus, we’re focused I’d the tough So, Kevin is I want read early of. XXXX year, SVP of on we’re say, Entertainment, pretty innings season, charge. that in football is get sports to leading the here obviously

I that’s think it’s little kind like. of done kind with, what look stuff but a of it’s read to that – really tough

Andrew Barish

for the Thanks color. Okay.

Brian Jenkins

Thank you, Be safe. Andy.

Operator

our take next Stifel. O'Cull now Chris ahead. from go Please We’ll from question

Chris O'Cull

closing you factors given guys. a influence through recovery guys reopens? Brian, have when of seen strengths Hi. storage the or afternoon, what think do you and sales Good of cycle two reopening, store one go

Brian Jenkins

Those Midwest for there Southeast. Northern I the market not states the stores of stronger Well, some difficult actually stores – I Southeast states recent we’ve I year surpassing been of us. in more got for And some but you the think have pretty seen in were little experience course the out our weeks, many quickly, a mean, itself. – of them know think over fundamentally of developed prior it’s a appetite definitely the and some – of so and quickly. – the in

this in a because open. we’re we of fears particular different really the of really think running COVID when playbook I underpinnings market is some not the So,

curve, get recovery to good going back unnecessary look it’s large, and appetite, confident a we to our the It’s we’re different we So, news more trajectory. in have consumer I is, able And not this past get all an upward states good think, they by the you little the something is place. markets. maturity be thing about the And all to of on news when out doing that feel curve the very know, think. a really good we’re when and I website you differently that’s at

and there may that is, up any one first of good operation. them pretty opened California, darn week but their went example we of opened in a we opened of index we’re XX% opening three more quicker, in up when shut. stores A Some indexes get highest Those they the week we That’s but than of in actually weeks at confident. state. had for there

to want think that’s their to eventually. optimistic people lives and we really that So, everywhere back get going everyday to happen we’re actually

Chris O'Cull

increased trying level key expect anticipating in sales fourth that mentioned positions. when the the leadership those level many understand costs store of guys you’re and employees some determine to sales to quarter you to to how recall? labor see recall to You I’m

Scott Bowman

Yeah.

– We end two two month what explain me a October – ago this. months are pieces really Let that of A – of bit there’s those? October? here. little or

Margo Manning

Yeah.

Brian Jenkins

End of September actually.

Scott Bowman

for were those six, months more being and us our represent our in about They Early units October, base. we back XX% leadership and able made quickly bring being sales overall Those the than going of stores decision of reopen effectively. on our core seven team closed. important of represent stores. to stores there’s to New nothing York stores right and XX% our California our now And

with And if start lose being lose our a that brand closed And So, and long, ability this try we in going labor to could we the you’re the have reopen. each were win is battle to you’re when team, team able brought and stores to those war back trouble thing. the to small battle to a going leadership preserve a we we win war to were the – in kind of to make win that and sure reopen. that new on of you

take we we to as this is stores at We think planning significant reclosed folks not mentioned, temporary then are back, when really a longer And our So, that that York, year. we after until think we quarter open those which year can we’re get make course we of time going correct first next holidays team of we’ve next the XX early sure this the stores brought the and comes reopen, or need back think New then, furlough net of have to to folks. some time. California, a Scott and and to these

recover on here. to on. have we’re sales. our really not get our stores and to important. don’t got way That’s these We’ve imperative We going bounce have eye don’t We to It’s save really. We got to profitability back. to have that. We’ve

Chris O'Cull

I agree. one then, one. And last

addition other target I the XX%, positions ramping breakeven. filled some something XX% quarter being mentioned enterprise and of operations think to you at investments you up update breakeven level? being provide of Did at with the like the those you’ve during Just sales the and back an your EBITDA mentioned. previously guys

So, any that? to new updates

Scott Bowman

No, of today reaffirmed we in confirmed my or remarks I would yeah, it. prepared sort it –

to have the We were October, of – pretty we October. look close in at if you breakeven month

at we calculate an could – loss were of Just what disclosed that we’ve at there. EBITDA close out And you million you [Phonetic]. $X if look

news new no So, here.

October. So, we in close were month really of the

we index had late recovery comp index know and had about XX% open. you our chain XX% was, mentioned, in I a of the quarter As the

So, when XX% enterprise confident going profit. we breakeven that to really to to we level we’re XX%, get in feel that then and be to

Chris O'Cull

as quarter fourth well? the for Index apologize. I

Brian Jenkins

I’m sorry?

Chris O'Cull

for the I meant, for the third. quarter not upcoming future –

Brian Jenkins

– No as not. we we’re close it. said, No, we were to

that confirming to QX. we're get when profitable, to think that's not So, when need we going we we XX, happen XX, in

said, in we're were Scott seeing We're October. We seeing as know, - rollbacks in November. [indiscernible] rollback. A You

down the topic more has been than the store covered index is our And chain on us. more So is base right the wrong now. shut way going being

share going for So, November, comp wrong the we're direction. Scott, the what’s that.

Scott Bowman

November XX%. for is negative Yeah,

Brian Jenkins

close we've so Yeah, XX% index, getting XXXX. got to of an not

So, we've go. got ways to

Chris O'Cull

Thanks. Okay.

Scott Bowman

like to you be, the being start that, store taking mean, think know, are, and from. as people ability some leadership so in have much I Chris pretty think adding stores one to of kind again, it, won't some care as know, place you the we repair infrastructure base as of reopening you of things some you to variable be do know, this cost these we back, and good get with add on of but it of one some have a the I we'll already and to we know of about is, the build know, ways and you and the maintenance know, here of because you

Operator

Please go ahead from take question go we'll and ahead. Brian next Bank. Mullan And our from Deutsche

Brian Mullan

thanks. Guys,

time legalization increased on but opportunity the touched devoting drive the that offer the long-term? right was I or Is an opportunity of now? earlier, as there across resources does you does So, to the country sports over you sports opportunities exploring an to traffic that Are any to betting curious, opportunity? any stores

Brian Jenkins

is, know are – to an opportunity, you we explore is our who answer entertainment. Yeah, short that devoting SVP Kevin there resources of and we is Bachus,

a it You we'll now. is have we discussions. don't on know, into hit report that. potential hopefully, discussions we're fit out any bit with you is more right And as a call, to partner, potential have we those on in And, more next know, report think I us. our for little a But deep it that to

Brian Mullan

do of the environment, but time on coming touched resources devoting & thanks. to for the your you And of or of Dave we some net question, a thinking being unit you about we bit grower are once again, period? you when out same own competitive terms like this – when what Big kind know, pandemic, your time the in you great, of look pipeline you concept, get anticipate competitors, are Okay, of Picture, unit then Buster's. a just out growth earlier, could

Brian Jenkins

know, answer, those you every look well short know, to open one this you know, you of with stores, know, was were we're we you if our virtually going year, six eventually, really, you stores. on at You know way

think So, it we wrap up, Day and is last in limited those have quarter here that, and capital sense fourth the it know, makes one sixth. Green I you the remaining,

the as brand. and it’s priority the the know, path financial on a You of is as that my before, plate, chain our is not you D&B quickest and team is the I our and recovery new know, the of said opening of look stores, reopening portion view of XXXX top the what health at significant I has to the

So, recovery It you have a we must New XXXX, feels of a up not in been we the a, that's the know typically reopening and coming York, prioritize store stores and these lot California, some as will on brand know, down, reopening, like growth we're be as and long right you Margo. de-prioritizing of the year. new a

Margo Manning

Yes, it does.

Brian Jenkins

to But You that calling we know, still of hourly lifting, leadership ability. know, a stores. you to make rebuild why there's sure hit preserve bringing back, a small lot that are to team core do other members we're those is team things, that yet,

is our So top that priority.

to our it know, fraction Our you we of folks, XX team, also the a is, a now, you we're and up strength lean know, as not was, now. way, back stores have bench at view once in the know, really right around you stores prior averaging gotten is what right X operating typically we're in X

open by upon the recovery resurgence. liquidity, strength cost you right watch of path you we So, what to going new prior hurt our this base, were back more as now. like want and you to sight is to seeing we're And of recent bench this line know, on actually better see we is been store a stores, then, know, it a back has, that we're know, healthy,

be there'll a time So, as for don't I that acceleration. do XXXX.

You good right pipeline now, XXXX. have a know, we solid in

we We lease the with that have terms those. in that of have timing about of under locations XX landlords working we're our

the there'll a lot we great have you real think in of pipeline. estate U.S. there's lot potential, some So, the in coming up we as we, market We view, environment. know, to us, be still for current our know, you a a possibly

early not it we it's be pivot going save XXXX. point, some know, So, will the into you at here to

Brian Mullan

you. Thank

Brian Jenkins

bet. You

Operator

from question from go next ahead. our Long Sandler. take now will We Please Joshua Piper

Joshua Long

is my you just more there Hope that are opportunity portfolio? or a of the but if point terms some closing is doing clarification, the well. of in what optimizing curious of a the this everyone permanent the Thank idea temporary, is the revisit which of of those question. on not to taking would closures is overall of need to be Why understand Great. back stores restrictions, due

Scott Bowman

question. That's good a

to just We we're the could we very prior for think that, I the us know, that You seller know, news days probably maybe good positive. them sense, one have and and know, or to away, two to I in Houston. brands just whether you to one the sister Chicago, be now, made think closed a store, oldest away, to We store decision, miles it made our COVID, had you it. was profitable, close all healthy to we know, And, a environment not stores, then our And a EBITDA sister you in but call [indiscernible] of of [indiscernible] because moved we expect stores we markets store. made had this that which five Chicago is we we COVID. have, the transferred the right the one overall of elected we few closed it in say store Houston, had fleet. had Older accretive prior location reopen

want know, this disruption decisions on any results these – going think at how saying, and long-term plan to So, we to that I based point, closure see you recover. don’t I you short-term to make we're we're tours know,

plans don't close time. we so, And this to at other have stores any

Joshua Long

our of busy initiatives that's and it delivery, through then third also party follow up some larger from the would sounds if work extending a different on, a virtual well. brand, Kevin channels, my interesting about that his kind and guests how opportunities Is question to home an how whether all extend piece relative we're into or think you sense? with are the well? brand into consumers as spent you'll if gaming opportunity? then there on as time of a versus [indiscernible] core or do in opportunity something leadership spending have mobile that home you the guys is to on equity, into think going consumer engaging about be to about be, and brand Understood. But incrementally new category team pre-pandemic, that have piece quite been as you lots like and travel patterns disrupted being And And makes have curious that pieces time

Scott Bowman

question. a really good It's

our today now. there have opportunities is, experiential, focused. to where know, right that and think – our know, is you store we lot a we're I lives our of improve You in focus And

can't So, looking that actively point. at I we're say at this

So, of the And think look want right in-store how a think lot to team, team have will When small sitting back be we're of home, focused. lifting a in we're, have now. I focused they lot responded out right in around the where I how And I plates the you I and house experience a our a room. on much not say at people that's thing. that in and markets, get have their we the on think heavy And we right is now. their

we're where that's think our focus going I to attention.

Joshua Long

Thank sense. you. makes It

Operator

our take question go We’ll Vaccaro Brian ahead. next James. from Please Raymond from

Brian Vaccaro

Thank that were looks you settle a us for good will I sprinkled view there understand question that trying understand where Good that the and beverage And you everyone's where experience expected catch evening. post wanted reductions you the fewer to and food the you more of well. some of sort the items help with back, to you on or it specific everyone a around and be removed understand to XXXX, think throughout up hope items, more have menu. were I you're said changes how XXXX? been, third you're can meaningful to doing or to categories versus were in I how adding making you COVID menu, just but ask the

Margo Manning

Hi, this is Margo.

So, I'll can Brian in. and chime start

execute get when you was, see in again, we the us, will interest of along with the For research, that say one items appetizer. some things had that the what new work appetizers, done we've the came just [Indiscernible] menu, significant to out could to strong And quickly. very menu impact. well the was items few of every guests is that the we out category to of to very really objective an that good has get aspect the

veto a vote, enable And to is whole we've curated perfect hit to that do that enough operational you you the XX anything variety so have the distilled is rollout, don't execution. add tightly of really Brian it that at want end down we so, when it but that? items, the there

Brian Vaccaro

little like the of quantify thing. in handhelds the back the how a [indiscernible] And and benefits you sort shifting Also, from the world, you prep, that kiosks trying maybe model? labor and impact house post-COVID some house, of the can streamline expect Okay, and of about perhaps labor the more the I that's expand things server in to think menu the that efficient will gears helpful. model bit, guess a

Brian Jenkins

we're Brian. that through Yeah, working still

de-leveraging You we're kind that of of the across event typically operators up, not in result kind elements, the declines terms a terms that a to sitting you to have and you you when It's labor, that, recall in Margo, right and managing we able If from, hours efficiently have Hourly know, having a sales, and, all if for which variable, know, what in It’s flattish. know, there's have, we've you I look now, sort labor. put been third store, you of at you architects you know, of right within of remarkable game tech, semi-fix fix we're quarter. very will store in quite of know, accomplish, the know, and know, numbers some so right significant the we labor. that, running now. of a

be necessarily things mobile think that I helpful, going that's of technology about, good a in a a some little you helpful we're and kiosks, you terms the really speed of for about, know, and know, know, devices, outcome. will in efficiency. the some putting but of talking less of know, more And, be you execution you So, stuff lot to is some

we're front down. all it's and game to being this we're you able off tech to to know, and keep peak, back we're is, the you [indiscernible] scheduling front house be know, on thoughtful and not code of from to job think, and just every battle winning and very our I where very to right nimble Essentially off now being house, win, desk how going within up peak. we're

or think carry you I we're into experience. we stuff. to sure. add doesn't of in many we're think, But you as XXXX So, damage and going that the not guest any that some how going stop, going I think now, guidance to to on appropriate, is much to that of get to – eventually, we're going XXXX, back And, for we're that know, stuff going try get the to you know, know, I'm we bips know, because we're right feel you

Brian Vaccaro

and average, if sense was what me level? but on in might that Team correct settle but And right. correct I post-COVID on manager be that think you out positions, if thinking mix just please changing a know the managers the are you [fluid], towards that's recovered a general maybe historical the salaried versus side? of it'll normal But type I manager I'm And to wrong, sales you about Are me look structure the XX-ish throughout unit get structure the hourly world whenever maybe about managers, like? how trying thinking think might of a not Leader

Margo Manning

just this I'll Margo. is this Hi, jump one. on in

the of that presented things for single us So, do. thing about every look wonderful to one we world it opportunity the this COVID and at has

we whether by looked spend eliminate the and you savings, every single did literally permanently we it. or when the not have or will it at look the keep in And accident, not or happen so, whether not store, at we will evaluated savings

see you store. the structure. are item management definitely will is This the every going we in we so, And line single, look at us is that know, on

them take had keep learn. this the we've and talk that to some about impossible sustaining not of improvement it's the we in so, And when some of year XXXX, you learning’s because

so efficiencies what the that And of aspects guests doing we without sure truly are we're that good the trying experience. is selecting efficiencies make to are any diminishing

is thoughtfully to it can This the lens get efficiently. terms them that that that. we'll looking in we'll and experience management through of we're be at of our that put the looking both we're the same So, and doing ensure structure, destiny course, the we and at hourly

something So expect we in that's can XXXX/

Brian Vaccaro

sales me, along. a average are Alright, us pass for in couple weekly normal months, higher it and that's much sales how or December really I'll remind versus Thank can next year, helpful. the And sales months? Last you. thinking index of you about in shoulder volumes just the one, the

Scott Bowman

and [by far that. don't largest]. Yeah, I have

Brian Jenkins

good [XX%] you month. Yeah, the It mean two than the versus And it's at runs that. know, look December, entire you question, average, really and about across higher if kind Ryan a and December biggest I an our year. March weekly of sales

Brian Vaccaro

you. Okay, great. Thank

Operator

questions. additional no have we speakers any our remarks. for pass further And over I to or back it closing will

Brian Jenkins

you you our joining today. holiday Okay, families season. location thank seeing D&B and healthy you call for a really We thank safe wish Ali. And and here. you at forward to we Guys, soon your a look

So, have a great night.

Operator

call. your does you And conclude participation. with Thank that that, today's for

may disconnect. You now

Dave & Buster's Entertainment (PLAY) 11 Dec 202020 Q3 Earnings call transcript