Shares of Dave & Buster’s Entertainment PLAY, -10.94% fell after-hours Wednesday after the arcade-restaurant operator reported another quarter of lagging sales.
The stock was recently down 10% to $45.14 in post-market trading, after closing up 4.2%. Shares are down nearly 7% this year as of Wednesday’s close.
Dave & Buster’s revenue fell 1.5% to $588.1 million, missing the $615.9 million expected by analysts polled by FactSet.
Same-store sales fell 5.6%, a steeper decline than analysts had expected. Comparable sales have now declined for five consecutive quarters.
The company is in the midst of a turnaround effort, redesigning stores, rolling out new menu offerings and testing price changes. Those moves are aimed at boosting same-store sales that lagged through the last fiscal year.
Management once again flagged a complex environment for consumers and said the company had faced tough prior-year comparisons.