From Financial Modeling Prep: 2024-12-11 12:06:00

Dave & Buster’s Entertainment (NASDAQ:PLAY) saw a 15% stock plunge after CEO Chris Morris resigned amid disappointing third-quarter results. Interim CEO Kevin Sheehan appointed as board searches for permanent replacement. Loss of $0.45 per share and revenue of $453 million missed expectations, highlighting challenges in brand revitalization.

Despite setbacks, CFO Darin Harper noted progress in long-term strategies with three new locations opening. Analysts downgraded Dave & Buster’s from Buy to Hold, citing CEO departure, weak sales improvements, and earnings miss. Concerns about execution risks and lack of catalysts pose challenges for the company in regaining investor confidence.



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