
Dave & Buster's reported a disappointing fourth-quarter revenue of $534.5 million, reflecting a 10.8% decrease from the previous quarter and a 9.4% decline in comparable store sales year-over-year. The company's net income was $9.3 million, translating to $0.24 per diluted share, which fell short of expectations that had set earnings per share at 69 cents. Interim CEO Kevin Sheehan criticized the previous management's decisions regarding marketing, menu, operations, and remodels, attributing the sales drop to 'ill-advised changes.' Despite these challenges, the company's traffic increased by 3% year-over-year in 2024, and 4.7% compared to 2019, likely due to a multi-year remodel and expansion strategy. The interim CEO expressed optimism about reversing past mistakes and is planning to test lunch offerings as part of a turnaround strategy.
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