Why Dave & Buster's Stock Jumped 11% This Week
Dave & Buster's Entertainment (NASDAQ: PLAY) shareholders trounced the market this week. Shares jumped 11% through Thursday trading compared to a 2% drop in the S&P 500, according to data provided by S&P Global Market Intelligence. The boost pushed the restaurant and entertainment specialist further into positive territory for the year, up 4% while the broader market has dropped 14%.
It was powered by a positive earnings update from the management team.
Dave & Buster's said on Tuesday that revenue spiked 24% in the fiscal first quarter -- which ended in early May -- a new quarterly record for the business. Consumers returned to its stores, which offer dining, video game, and amusement options, as they shifted spending more toward in-person experiences.
Source Fool.com
