"There are a lot more experiences that include people under 18 than we had thought," said Steve King, Dave & Buster's chief executive officer, during the company's first-quarter conference call. To bring in more of this demographic the company has started, as of last week, to increase its advertising outlets.
Dave & Buster's will up its store count by one unit this year, in Tempe, AZ during the third quarter, bringing its total number of locations to 49. In 2008 and beyond, management is looking to add three-to-five new units per year.
During the first quarter, which ended May 6, same-store sales increased 3.7% year over year, while total revenues increased 6.8%, to $135.5 million. Revenues in food and beverage rose 6.9%, while entertainment-related sales were up 6.7%.
Dave & Buster's EBITA came in at $22.4 million, a jump of 24.7%. Management, in part, attributes the increase to changes in the menu that were put in place from fourth-quarter customer surveys.
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