Dave & Buster's(PLAY) Newsfilter·2025-04-07 20:05Core Viewpoint - Dave & Buster's Entertainment, Inc. reported disappointing financial results for the fourth quarter and fiscal year 2024, but the current leadership is optimistic about future improvements due to strategic changes and a focus on core operations [5][6]. Financial Summary - Fourth quarter revenue was 9.3 million, or 36.2 million, or 127.2 million, representing 23.8% of revenue, a decrease of 16.2% from the previous year [8]. - For fiscal 2024, total revenue was 58.3 million, or 126.9 million, or 108.9 million in operating cash flow during the fourth quarter, ending with 510.4 million in available liquidity [7]. - The Net Total Leverage Ratio was reported at 2.8x [7]. Strategic Initiatives - The company opened five new stores in the fourth quarter, totaling 14 new stores for fiscal 2024 [8]. - A total of 44 remodels of Dave & Buster's stores have been completed since the start of the remodel program in 2023 [8]. - The company repurchased approximately 5 million shares in fiscal 2024, totaling 172.0 million, representing 12.4% of outstanding shares [8]. - The company has entered into international franchise agreements for over 35 stores across five countries, with plans for at least six additional franchise units to open in the next 12 months [8]. Management Commentary - The current leadership team is focused on unwinding previous management mistakes and implementing a "back to basics" strategy to improve revenue and shareholder value [5][6]. - Recent trends in March and April indicate notable improvements compared to the fourth quarter [6].