Dave & Buster’s Entertainment Inc reported first-quarter financial results for fiscal 2025 on Tuesday after the bell. Here’s a look at the key details from the period.

Q1 Earnings: Dave & Buster’s reported first-quarter revenue of $567.7 million, missing analyst estimates of $576.41 million, according to Benzinga Pro. The entertainment and dining company reported adjusted earnings of 76 cents per share, missing estimates of 98 cents per share.

Total revenue decreased 3.5% year-over-year as comparable store sales fell 8.3%. Dave & Buster’s said it experienced a sequential improvement in comparable store sales since February.

The company opened two new Dave & Buster’s stores and relocated one store in the first quarter. Dave & Buster’s also opened two additional stores subsequent to the quarter’s end.

Dave & Buster’s repurchased one million shares in the first quarter and ended the period with $104.1 million remaining on its buyback. The company ended the quarter with $11.9 million in cash and cash equivalents, and $423.2 million of available liquidity.

“I am pleased to report that we are making good progress and our operating results significantly improved over the course of the first quarter. While performance in the first quarter was nowhere close to where we want and expect to be, our ‘back to basics’ strategy is working and is driving a material recovery in our top-line trajectory,” said Kevin Sheehan, board chair and interim CEO of Dave & Buster’s.

Dave & Buster’s said it expects total capital expenditures to be less than $220 million in fiscal 2025.

Company executives will further discuss the quarter on a conference call with investors and analysts at 5 p.m. ET.

PLAY Price Action: Dave & Buster’s shares were initially lower in after-hours on Tuesday on the report. By publication time, the stock was up 2.20%, trading at $26.44, according to Benzinga Pro.

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