- Earnings call transcript Q3 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon, and welcome to Dave and Buster's Entertainment, Inc.

Third Quarter 2022 Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask question. [Operator Instructions] Please note that this event is being recorded. to of conference Investor like Hatton, to now President Vice Relations would turn over the Corey I and Treasurer. sir. ahead, go Please

Corey Hatton

Inc. Thank & we Chief call on to is today's welcome Chief questions. Financial and and you, This the our our Buster's happy operator, Leading prepared behalf to After line. your remarks, Michael everyone Quartieri, recorded call be Officer, of is Executive on our Entertainment, being Officer. Dave Chris will Morris; copyrighted. is and take

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

available IR the to Accepted measures October addition, of Principles. pro non-GAAP Investors event is and of our include Also, today that financials the our comparable forma references including Generally XX, of at earnings trailing will defined website. available contained our our in the these bottom under quarters for Accounting section on Events four which afternoon, the released remarks Presentations are ended also XXXX should In are this to main GAAP website. financial not announcement measures reconciliation measure review the

Now, I to the call Chris. turn will over

Chris Morris

afternoon, today. thank joining everyone, Okay. and you Thank and for you, good Cory, our call

and the of indicative third delivered for to strategy. clearly which making record on both led our comparable our quarter, we macro are these continue to by integration the to strong growth areas. three quarter, key financial and ahead on sales of want teams, are the planning; double-digit in the and turn long-term are of Since become pleased record been report three revenue focused inflationary progress here integration; merger effectively results and driven organization. to pleased are We near for the that streams; efficient as to work I'm the we effort call, we We results record in a of the our managing I support managing and the three, strategic outstanding field in team the work produce ongoing our say term exceeding center two, to in last more quarter pressure schedule profitability which the has our in sales EBITDA offset in recognize analyst the adjusted inflationary challenging our business. one, despite environment. for growth, all

To-date, both combine combining the as pace continue toward accelerated systems move benefits. power brands. the to anticipated these staffing to we relates $XX has and implementing our execution addressed implemented and $XX in inflation excellence over realizing in all target. As we merger it team's swiftly offset of redundant of our of were has our confident accelerated pace million synergies synergies our million to annualized integration, be to best-in-class The the across continue purchasing

initiatives the combined opportunities, -- moving to and are superior capture fully our operating of aggressively implementing operations. We scale moving leveraging are we synergy

brand bring anchored as great strategic These are with Dave and happening to the by consumer undeniable are add we shareholder the our on to and Based will considerable our Event Secondly, thorough to social core the our occasions crew on for brand trends have entertainment research meaningful brands Main Dave & location-based Buster's position greater to them, our the aggressively visiting on going in squad. & time have from and long-term aged forward locations connectors, plan their directly teams situations business, energized long-term been operators, time and our to and XX a our at leaders focused a and focus call value. executing cement now deep as like learning time. XX, social strategic Buster's developing who spending review further adult in of culture

part and layout offering, this the beverage led innovation more brand the the come, Event of tech-enabled Main and look our the to pipeline, to Investor in apply planning to of we're design Buster's strategic marketing reinvigoration excited early our Day the model. with Over at to sharing long-term year. and entertainment holistic details operational Dave brand, to food years the anchored approach enterprise. same larger hospitality managing next execution in successful months approach and and store forward guide and the strategy, to refined positioning This you & We will business

inflationary inflationary the have thoughtful have made we business, increase increased pressure on operating pricing progress great cost our manage cost and and our pressures find Lastly, profitability. continue to efficiencies. in mitigating teams focused our opportunities and been with to Despite ongoing

we line on very In momentum cost with addition are top pleased work throughout to our the portfolio. the controls,

healthy results, quarter to and guests rates. our visit third at spend by indicated As continue

November, success contest, from Dave Dave Buster's. together of to around activations holiday launch Watch together World the Chiefs National a are Kansas tremendous Play Buster's performance. great about our excited awareness & hangout spend four City. country bring marketing to recently in Combo & the designed Eat local & On Cup with QX, drive Dave and Buster's We've viewing the completed campaign, Kelce, friends winners the we football & to watch strong great featuring contributed destination, impossible Travis as QX of City at front, In Kansas our we at will focus our holiday our had which football promotion our launched in on which

Special and are focused teams into delivering banker head aggressively teams season. operating sales strong we on a Event holiday QX, As our

we We our levels. season upcoming nearly the the momentum Year are Special pre-COVID additional enter has New as Event's provide to recovered business optimistic as that holiday will

are the about of organization. We excited this future

industry-leading talented Dave assets will in two business models, bringing Main with strong these which brands our & teams, exceptional and exceptional These brands under and stakeholders. umbrella have Buster's have company growth Event. brands opportunities, We presents benefit all together one

on and our are that Buster's we with strategic to this for track meaningful have line there and record believe & ahead a for upside Dave potential. of team clear diligently potential the sight a We is realize the execution. world-class working brand a management We superior of opportunities stakeholders, company and proven

last continued take me how awareness in that and front special service our stores synergy excited unlock about gives refresh a have succinctly, of significant work that's product recap we To continued which the and program minute business, approach a event Let shareholder me put teams are everywhere seeing network, our the to on few The the identify we our team in capabilities for offering our stores. least, both look, poised long-term progress us. driving initiatives turn, franchisee The brands, opportunity confidence it implement opportunities, for new value. our of our our we we improved hospitality-based management executive to and model. of our the ability of innovation to rollout and brand of proven development certainly The growth the not but to growth tenacity in pipeline and of our of our succeed. recovery opportunities, developing international are me development

the call me results. let turn now, review over that, So with QX our Mike to to

Michael Quartieri

managing our of quarter third million you which Thanks, newly trends adjusted XX.X% margin improvement basis softest of record which year. business, of third remind the for represents the in fiscal third Chris. which successfully an in the continuing the considerable of of encouraged point holistically We're We we produced pleased with focused above quarter, our XXX combined generated XX.X% the quarter I'll remain revenue the XXXX. quarter. produced and EBITDA quarter economic on fourth quarter, financial $XX into seasonally a million margin results adjusted uncertainty, EBITDA record $XXX a and third the the is Amidst our by

and $XX Events with Event. December figures, pro I'd of supplemental on versus financial represents Main the laser-focused mix consolidated schedule continue like with the basis. offerings IR cost sales pro to store comp figures structure our third and Notably, quarter on to to to XXXX section that direct the synergy titled comparable website. We revenue an XXXX has our be to tailored continued sales forma comp on forma from combination target a the unlocking the our our regards the total and versus in versus With in SMB of our of million SMB XX.X% XX.X% our business supplemental posted and optimizing XXXX you improve increasing period. data menu prior to I'd year like new highlight strong Presentations

Additionally, it continues ratio an million in the times. balance XX.X% undrawn with pro as our during of revolving comping with $XX quarter the down when XXXX in million versus special leverage continues with ended for quarter, contributing cash to cash credit the to total combined almost quarter events a provide liquidity ending tremendous combined to $XXX X.X% facility. was the comparison quarter business $XXX to million forma only operating X.X it We versus total flow the this levels of pre-pandemic normalize net generated comps last upside, when of XXXX. down We

one the Turning quarter million plan of Buster's Lynnwood, stores, and capital branded Washington, in Dave and opened stores store & in Event & Dave additions other in one in branded one a Bakersfield, Main to new and $XX We the two spending. Beach, California. open fiscal Long California Buster of We capital fourth new to total XXXX. invested in three

the has overall compared in growth will despite of brands for X.X% and focused weeks headwind, the in negative calendar great versus special comparable the the and us this our five-week strategically period the December. our update value remain ensure the in business, and the execution period are in these the combined macroeconomic which experience team comparable XXXX. quarter. deliver of our managing same the the holiday X.X% to numerous Finally, period costs highest shift for me first synergies, on in we to talent estimate the possible same X% five a unlock store capital you it remaining XXXX that Pro for spending business store specifically compared We challenging and XXXX the to pursue we about summarize, shareholders. drive capturing We to maximum of closely strong our weeks growth opportunities two environment. excited progress returns as reverse To temporary the to and on increased of through sales XXXX sales forma our season events let represents relates comp of to

please operator, up Now questions. for line open the

Operator

Thank you.

We the will come session. first now question with Andy And Instructions] the Jefferies. will from ahead. Please question-and-answer go [Operator begin Barish

Andy Barish

Yes. Hey, guys. Happy holidays.

you couple can the Play a I And & top pleased Just then on the quantification any to how sort of talk for maybe of versus thoughts us sort and think Eat if could. average with importance you the should volumes? guess, XQ about Were of line, secondly, firstly? quarter in of about at November, you the on look seasonality of kind December unit we as you

Chris Morris

Hey, and is kind additional I'll Chris. fill Andy, some this in of Q color. let start

So appreciate well. happy as holidays you that. to I

look ones the a very Eat pleased line, and at we that our bringing we our arsenal I first, sports month that to the awareness did Play, on that felt walk is the includes we're the of job top tell November. entire trends what business the of activities, campaign, nice & terms you marketing you When I'd of NFL in viewing. In with that through,

nice throughput weekend. was the very weekends, first, to think see on the continue maximizing we focused on successful. which is And our combination campaign, keenly operators results We believe a secondly, sales of, we the are on

so think November, & The that, Play that Combo we Eat we're helps. pleased with. in And

contribution did we're look As we it. trying understand really a little pleased overall, to we But promotion had is the that at that murky. the data

in those of tell of -- particular campaign. regrets. We part experience. that one time, no is of particular brand that The equity a the promotions And thing to it's D&B that about platform is lot of identifiable I'll there's equity, have you a over it's promotional lot

of this all in brands. our timing walked performance, be at business -- adjustments And And sales that wouldn't as you an do the always-on important the to but majority to opposed of November. period as of portion comes in selective And is see we'll December significant our on of couple think brand maximizing to to opportunity kind When has both a you Main we And period, it for then on our you very that. forward, us Events. sales But back, look been Special as we demand so still and we're through, when we'll regrets as that continue teams from laser-focused Event sales a of optimize demand promotion, overall, of through no QX & there's It's very the a the make momentum been the type do there. period Q mentioned, brand on the The pleased. because for for it. are Buster's we years considerable Events. special going Dave the to is intend since the and I during

which point levels, in our we're to operators pleased got we And are -- ready about. we approaching this -- and very are so we've the selling pre-COVID at time, execute We're focused. teams and

Michael Quartieri

other on and thought the timing the just you first Yes. weeks. what Andy, just five in X see

you takes Events Special business, the holiday. the three-week that the leading place of up Christmas think if to about in period peak our So,

XXXX, And the the peak three-week you and in December XXXX, was go at a the holiday Xth, that which XXth push But Christmas so that on this we're the XXth. Tuesday, current Wednesday, back in, consists the forward. if week and week of look to period caused of

Xnd, So, the and December Xth really weeks were XXth.

December to this December a this Xth our the difference benefit as that store just versus get holiday headwind us, significant point. extra of that back what's piece just between of and causing pick end on we five-week the we'll period for Xnd in week, that's closer is So period. comp to X% that We'll Christmas business about sales at up the get in that

we're out experience think when And we you a what December, extremely five so this of as that we by overall, between take whole the for pleased the will for seeing of the work level noise we're weeks team December. the the special sales business our of with in full the month month from quarter, events and

Andy Barish

you very much. Thank

Operator

will go next from Truist Please The come question Bartlett Jake Securities. with ahead.

Jake Bartlett

had question so a Thank on we you. I trends. is the Jake. understand just This can

I think base, The Buster's considered think stores, don't forma. you're you're you're & Dave forma, because us Main pro then sales same-store just is are guidance but Event and I reporting comp the going giving I for think in pro right. XX.X% what & Buster's be versus sales you Busters was I reporting relates Can got the for us quarter-to-date you it just Dave give XXXX if same-store & as that the the reported that for third the Dave to in quarter? to

Michael Quartieri

just purposes, and the it think when I managing we're for as entity. manage prospective look consolidated business, we one Yes, we

the We have accordingly, in both the having brands at we we slightly a allocate one look management offering as team but same both in do resources put that way different vein. we place

what -- to business And we redeploying point looks : to our are both adjustment to a basis. pretty do in a to three-point it from because combining consolidated XX.X%. making The the think brands trying I'm quarter, seem for think Okay. not are a do on. even a repeating. Play it about just what So, first of assets And I is what’s perspective, accordingly provided you you was the consolidated like is on April, Buster's quarter-to-date, on the it be & seems for decelerating does we're your is and deceleration a on on reported sales that's a same-store where weeks really like we're There basis, the XX.X% going here. to guidance & driving whole XX.X% between that we the trying but when five get the think versus driving just you as really -- guess Eat daily drove result guidance we we're alone, as momentum. looks significant thoughts What third even all like the deceleration be the then time I trends Dave XX% to in you strong -- is when massive, that. ran at doesn't seem

Michael Quartieri

have end kind point, close think a versus looking I've of you're which XXXX, delta bump. had coming the to to a of I the taken November variant a the you nice Well, October, if of impact do

recall during had & earnings we was XX-plus a walk-in on you ago, year it call comp that for on Busters, which when November, our the store Dave sales business. If founded month at we percent alone

So then the and a Omicron from XXXX off When we dramatically. lapping at perspective, that in period, you fell the business are the that XXXX this look time. at point in of year hit balance

do we December, expect we forward. as have comp for So January much to go a easier period the

Jake Bartlett

was and at talking and consolidated. was the it XX% XX.X% XXXX, closer I Well, XX.X% start to quarter of for quarter third it's then the now versus

there's deceleration So -- is XXXX. do there a driving what Is that? think versus you

Michael Quartieri

look would just at trends I just the business. overall in

that I I we about economic out think this we at comp issues back-to-school there, perspective, itself. think are mean a business a the the it are in still talk it's see remarkable of that business strength don't there versus although I that from levels much. are overall as the component store shows sales to of

Jake Bartlett

a quarter-to-date dynamic? remain is would on have, think the for the visibility the the as what if kind probably we quarter-to-date that the quarter confirm just the be whole And was about then think quarter-to-date levels than -- or as believe you you think you as I drag. one maybe some special that quarter we just than Agreed. the that of think -- lift we that just on levels, the quarters business above you expect so we higher we about think the events the question consider about kind demand higher Should to special same, But XXXX the the of about, events. can and should being given no comment longer think, of I

Chris Morris

if we adjusting alone look five quarter-to-date in We is mean December, in expect note. about weeks. the you But feel in you the strength holiday expect and that than we deliver events, year a you just quarter-to-date tell that Events, about up to excited we're into which into a the really mismatch, business, to feel that on mismatch right on The high factor yes. the the We would great I to end on focus sales, at for short as then great the great. number answer that Mike the trends as that better Special we move just recover we now the that position special pacing business. the in said, the we're feel

Jake Bartlett

lot. it. Great. Thanks Appreciate a

Michael Quartieri

Thank you.

Operator

Your next BMO question Markets. ahead. go will come Strelzik Capital with from Andrew Please

Andrew Strelzik

good pricing any Hey, is there's touch taking I business that afternoon. the any have you're kind if there reason you that gauge Thanks that maybe has from curious adjustments the level any questions. seeing data some there's or game watching that to think Do the still do for some reason points My recognizing a been made, slowdown. a of kind or you're was that momentum metrics the of one, to of any believe strong, think believe you the to first of of overall you of pricing that? at pushback the you

Chris Morris

Yes.

metrics So, prices, raise -- we anytime we that very something we have take seriously. certainly the to that's

seeing we're We're seeing -- increases. the going pushback And related negative postmortem the to back doing in price we're so, behavior no, consumer not or change any not or always reaction and analysis.

aspects that in in room So, our to raise there prices. like of is feel still to business we some continue fact,

to still you point that, -- just are the would I this guess, trends there's making underlying the business I comments good. we've there. been nothing very that back in So still is

Andrew Strelzik

Sure.

Chris Morris

about good we that. so, still And feel

Andrew Strelzik

annualized, this much $XX you actually exactly then And left there? $XX million great. integration, reported I on believe. on basis? How talked you to expect And the synergies realize the about of you to a the and year what do do Okay, million the do have

Michael Quartieri

Okay.

do. So of headed. to first where of you your been part and question, I'll done through walk what's left kind what's we're

where really don't need end around QX got at you financial that So officers. were the immediate nature rid of head actions two we count taken the of duplicative were the chief of

two You don't like. need the CEOs and

next which swiftly. The brands, up That gave is were $XX and power able So been combine the work around and the seeing out phase now us purchasing component, million confidence bid. we've contracts. that chain, which is contracts million quickly to really where ante to next around both is we're made the you're decisions entering of the implemented phase renegotiate right those our to $XX now now, of supply taking done, to that certain from

on that so really next RFP plans. items systems rather accounting foundational more systems, And to. and which bit a type quoted systems, team started little for the structural tempt this work than changes I make months when HR of it's we more and process least longer around consolidating back-office need looking eliminating just XX phase, the process. XX demanding that time that's takes us. whether the takes the process. favorable that It's call in to the longer, related that's we procurement POS is Consolidating, we one combining more more that's contracts, that previously The that long at toll -- the full system, And lease XXX(k) to much

what seeing and A offset directionally the in beverage experience we're it's that going that see far to is or in seen about that before. costing, our which least As we of through, coming a I factors lot we're food what of as we've think inflationary lot through million come helping period. like think, is $X at to

Andrew Strelzik

if here. Perfect. could squeeze And Okay. one helpful. Extremely just in quick I one last

there You update the in change any thinking openings, Thanks. the you're just on hear that. the store update Is to I openings. an way or about XQ didn't gave XX

Michael Quartieri

No, not time. at this

things, and that of the to it timing very supply relates governmental to approvals are any issues, level chain for as the We getting at local effect. mindful permitting

that providing get Investor and more the coming be talked in but we still earlier about the April when the in last updates our up XX is quarter to place, to Day details frame. in XX So we've we'll time

Andrew Strelzik

very Great. Thank you much.

Michael Quartieri

welcome. You’re

Chris Morris

Thank you.

Operator

with Vaccaro Please Brian ahead. Raymond from come will question next James. The go

Brian Vaccaro

term two and wanted some levels the to have least in was XX%, have at trends. you XX% and mean the on at maintain one up different up, versus say, was are D&B the obviously businesses comps near least the one how Thanks versus I two of try to brand and to the of and brands trending, important a generating because evening. very good perspective, side. just combined circle think on And little back I the AUVs XXXX. XX% to been it's I what Hi.

So the spirit average just any on keep of any around, the quarter-to-date but understanding between in provide could pieces and I same try Main us just sales, to reducing guess, risk the you and Event all moving maybe comp, give breakdown D&B confusion, of the us moving page, events on special weekly here. some their given to the perspective

Michael Quartieri

that Look, to best I'll I the give Yes. can. it you

if So with working It's about you the comparable XXX,XXX to in what quarter-to-date we're perspective. the It's of And weekly both sales that average XXX,XXX that we've brands. saw an looking seen from previously. you're QX. at kind again, is same basic

level that your the we're and that help between in seeing call consistent get the guys the their to Event Main you what modeling fairly in Buster's back that of, event with weekly of brand with showed QX average you arms or around in what everybody it, is perspective. main we the So & differentiation saw split help detail is to Dave

And consolidated XXX,XXX. you're you're if XXXX a XXXX, at on that average on if number to, back Now looking the weekly is brands, for about to would add looking I'll both for you XXX,XXX. about consolidated that be sales if -- basis,

during say, period, the just in I line is the different sticking So quarter previously. trajectories that in growth brands the saw would with that we meaningful there are,

Brian Vaccaro

that willing we'll be to okay, maybe, you'd the Perhaps Okay. stay combined.

combined Can to let's say, So reported, the one call the underlying agree provide XXXX. that than you this a any you've it, other? slow versus the make you in Event if level, now -- Events just I basis maybe in if so a more Special qualitative third -- decelerating brand on perspective with the comp on versus by, bps D&B you say, high -- don't that's Main XXXX, XX.X% said Has three-year you Is think that XXX know I in moderated, but Europe, XXX XX three-year around other? trend, adjustment. points. one and you'd on the the versus quarter versus

Chris Morris

Yes.

no public you're modeling the last there's before. This difference not between for just and quarter, details since Event what is we noticeable provided aid investors seeing Main trends. to So Event the is -- analysts the Main was in

we've it rolling forward, & could it's on so we at this coming into the don't to managing thought we're different the one that And regions. enterprise, necessary and the a adjust. will is Now between do is you then deem in provide elected more then the appreciate looking it's material that I communicate don't said, Q the we and shift just have our the business. it's -- extent is Main we as and to ever there of reflective forward, from, and this how to of is that as to any XX% we get about disclosures was Buster's, as how going pursue said, done past. provide into granular in We business, or Dave to of where we're entire -- that across reflective want Event But data the how we're necessary want managing it's And going -- To focused this is the detail, you're detail. business. providing the I and that brands, business. that, we talk so. two we how

the brands as to we've but proportionately trends that five QX, -- the So, been where this just comparable is for this going between weeks into the we're heading forward. disclosure two going with

Brian Vaccaro

margin we're other quarter, out in saw versus OpEx a kind move takes of swings in what be OpEx of saw you. level, it other are line show leverage that spend line in is marketing, guess, My I'll know of front. any and follow-up, and the enough. guess, guess bit. here. to the I trying And line, on that helpful. little Fair base swings I Can expectations our just you and Understood. puts on or last up a Okay. R&M at compared a high to that other the I take bit Thank help the I would in there the of quite you sort line. Mike, puts quarter levels sometimes on the in through some takes? might on very

Michael Quartieri

Yes.

a takes that. we at so higher we've before, point. puts external that -- of finding of difficult, continue Part as see outsourcing I post-pandemic, as think as costs is to we and lot components we of think this labor services perspective, Two I area. talked was janitorial a it about reopened we from did

As saw we and recovery able today labor are versus and where those looking strategic better a XX% going whether ago, costs basis back the year a physicians in more are got a are start off market external. in-house evaluating now for we job applicants seeing we than to on we've today

that there of So, that's going. is piece business

come they municipality a & Because safety we higher foremost, do we're come to not is want table that that. to we has there cost of to you're the asked and from continue important our We down. take a certain of that and see choosing Buster's security or one as have Main the Dave costs around to that on, local back of When because wage include the inflation have security got Event. to areas and first a stakes absorbing, customers, most they

also at maintenance a look repairs and We things from perspective.

a We kind go of post in are there deferred pandemic, of the you if lot through back was maintenance looking building. --

have a made an more from come investment little the have bit R&M there and side people back expense perspective. some of we on So

that utility recovery extreme was offsetting that some that the higher from had of usage, time. is costs we a coming a very the we months we what's of to but to aspects before, hot spoke Now, about summer rate the energy costs it all only we the cooler of from the not also utilization get perspective, with, is deal obviously down that as had winter that

so pretty we much those And four puts that have. are and the takes

Brian Vaccaro

that. you. Thank Appreciate pass I'll along. it

Michael Quartieri

You got it.

Operator

Gordon Jeff Please ahead. will The come Haskett. next question go Farmer from with

Jeff Farmer

you questions Thanks. have a guys. I of couple for

how seeing consumer? And you from just us they large cohort you this for can lower-income guys? you're is update So, the on are behaving? what How

Chris Morris

understanding a still understand -- there. our how end We're seeing nothing our are all business. understand trends We there's seen in Sure, guest We've on noteworthy we're business consumer. I'll take impacting certainly profiles in the that. our a demos. strength trying our haven't -- really there's we shift disproportionate constantly across – lower And trends and to business, not

Jeff Farmer

ones. just then two really And modeling Okay.

is which simple, is should in be first what talking What's the time movement model, you XX% interest the about update we guys the were using you. -- rate And from in The there? which rates inflation. we then heard Last commodity out there. considering

Michael Quartieri

start commodity inflation. Let me with off

XXX plus point. driving and up at were where costs that versus that And looking our So the only the QX, you contracts are X%. XX, lot a commodity LIBOR if synergies on loan. remember, the XX%. piece outstanding. lower should or we QX, at SOFR our renegotiation When at In of notes you're combined when to really look looking we've at around we've got of at up In -- purchasing the our that home I SOFR, power LIBOR And and is doing you're interest we're say, is XX. rate, term sorry, been that X.XXX work of --

just year, look interest will could your the rate. at give you forward that the yield next SOFR you for So for curve and

Jeff Farmer

Okay. Thank you.

Operator

Zackfia from come Sharon ahead. with will go William question next Blair. Please The

Sharon Zackfia

normalized Hi, the on more out pandemic I of it's the spend to good pandemic maybe has in quite coming now early with & innings How the for card. know per as kind the guess Dave of been been consumer? trending question I Buster's. gotten that a status we've that afternoon. the elevated

Michael Quartieri

the Yes, coming of level same we a out saw of what are consistent pandemic. at we

if So decline power no we've year, average in the value of of card last seen at kiosks. transaction it the over look the you

Sharon Zackfia

points going I on kind about you've been that margin, confirm then of targeting assume EBITDA we're to know then XXXX, be talking I I want that's over XXX the basis And target to And quarter, fourth anymore. the current a beyond quarter. this Right. XXXX also for not

it the Buster's I getting normal what you busters environment, of Dave with had think think patterns. eyes the a negative. there here we to talking you business, fresh that consumer volatility about & business, you mid-single? given & of consider Is kind back I'm lot curious been scenario the on positive get I of little about things do steady-state what's and we're winning on apples-to-apples Dave for Buster's? into what a become as still comps Like win comps, more pre-pandemic bit when data slightly have not a mean a the guys just more XXXX.

Michael Quartieri

Well, see look I'll of do XXXX, handle it's or to it back Omicron pretty question variant, you levels Delta a makes you the regards the first your in tired as XXXX just as well. about comparison. whether of part still the to for Yes, getting noisy margin. talking variant But I'm

XXXX we've this to year we'll was able ago, still period. be basis XXX remain point why and providing that's XXXX. commitment that given that's on QX committed achieve a what been that The So we plus

Chris Morris

then, business the and experience very we're on the business. here focus look, manage, Sharon, revenue through the throughput driving of we're want the win, just terms way focus on We manage manage a maniacal growing guest to sharp business our to in satisfaction. our we grow And this and -- guest through defining the we and about way

I magnitude winning so, grow We as just the in all what is really, possible guess, business. the of growth. areas want the as And to of much defines

So our our guest revenue growing starting, we're focused maximizing and counts very on opportunity.

and it future. very check our grow the dollars and we way we as and do open a want to want stores in flow in we bottom it's as many the can profitable, So and where EBITDA we line to maximize to

we right we're We're now know don't we're noise holiday with as that what tell position of exactly winning. are I special this December, the believe look -- events a in can your we answer into in mismatch seeing question. So seeing the through I winning to we results how fourth and on you right now. we're And pleased that the we're coming quarter.

just, terms in it's really so, more. And of always we -- want

And to your sustainable forward, maximizing single completely right as question. Hopefully, answers the but move focused growth that a it team that we on opportunity, lead to is results. so, way every doing is this

Sharon Zackfia

at us you'll you’re suspect I more tell when Yes, the Analyst Day.

So, thanks.

Chris Morris

Yes.

Operator

This to Morris, the to closing over turn Chris ahead. concludes remarks. our Chief go question-and-answer for session. Mr. Executive I back any like Please, Officer, conference would

Chris Morris

for support In to the continue work the stores team they center look joining. country, the at Investor future the for like you, to across all produce support exceptional year. initiatives, right. to the the All optimize Main done and to our the results part Thank Day Thank our Event operator. and you and commend to of being business hosting keeping our continued the again we'd hard at Dallas at our on integrate bright we apprised We you you forward infrastructure to these of our forward of early two in phenomenal growth look progress for brands. closing,

you. So holidays, happy Thank everybody.

Operator

concluded. today's now you The presentation. has attending conference for Thank

You may disconnect. now

Dave & Buster's Entertainment (PLAY) 6 Dec 222022 Q3 Earnings call transcript