Surging Dave and Buster's Ramps Up Growth
With revenues up 16 percent and a same-store sales increase of 2.2 percent in the first quarter of 2017, entertainment dining brand Dave and Buster's is showing no signs of slowing down.
The casual dining company increased its footprint by more than 14 percent over the past year, and it expects to open 12 new locations throughout 2017. Dave and Buster’s will soon open its 100th store, and has a goal of opening 200 stores in the U.S. and Canada, CEO Stephen King said in a conference call Tuesday.
Throughout the quarter, the brand introduced multiple new games, as well as new shareable appetizers, crispy Nashville-style hot chicken, and new rum-based punches that are served with giveaway sea monster figures.
“Amusements continues to be our focus from a promotional standpoint and continues to be our strongest sales channel,” King says. “Once guests are in our stores, we want to sell them the complete experience, including our food and beverage offering. Our objective is to drive traffic by featuring games, food, and beverages on national cable television with immediate call to action, which usually includes an element of free game play.”
Across all of its stores, food and beverage revenues increased by 10.8 percent to $129.8 million, which comprised nearly 43 percent of the company’s overall revenue for the quarter. A walk-in sales increase of 2.4 percent drove the positive same-store sales growth, while special events sales rose by 0.6 percent.