The Ratings Game: Dave & Buster’s stock sinks 9% as competition drives downward guidance revision [MarketWatch]
Solidion Technology, Inc. (STI)
Last solidion technology, inc. earnings: 10/17 06:00 am
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Source: MarketWatch
Dave & Buster’s stock sinks 9% as competition drives downward guidance revision Dave & Buster’s Entertainment Inc. isn’t the only game in town, and the competition is eating away at same-store sales. Dave & Buster’s PLAY, -5.96% stock took a 9.7% nose dive in Wednesday trading after the company cut its guidance and reported a 1.8% same-store sales decline for the second quarter. “While we continue to profitably grow our business and return significant capital to shareholders, our comp sales results came in below expectations as last year’s [virtual reality] launch proved difficult to match and our promotions were not as effective as we anticipated,” said Brian Jenkins, Dave & Buster’s chief executive, on the earnings call, according to a FactSet transcript. He also said weather and “competitive intrusion and cannibalization” were to blame. See: Apple drops price on new iPhone 11, undercuts Netflix and Disney on streaming As more people look to spend their time and money on expe
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