PLAY Earnings Missed
I don't see what the bull case for PLAY is! This is a broken concept and the promise of sports betting will not change much
Dave & Buster's 4Q21 GAAP EPS of $0.52 misses by $0.09 and revenue of $343.1M (+193.7% Y/Y but down 1% vs 2019 misses by $21.36M. 4Q21 comparable-store sales fell 2.6% vs. 2019 excluding 14 stores in markets that had vaccine mandates during the quarter. Including all stores, 4Q21 comparable store sales decreased 6.8% vs. the same period in 2019 and Q4 revenue was $343.1M, down 1.1% from Q4 2019. 4Q21 GAAP EPS was $0.52 vs. $0.80 in Q4 2019. Overall comparable store sales in 2021 fell 10.6% vs. 2019 and GAAP EPS in 2021 was $2.21, below the consensus estimate of $2.36. 2021 revenue was $1.30B, largely in line with the Street view of $1.33B. The company offered meaningless commentary around current trends - "The Company’s business has strengthened through the first eight weeks of the first quarter, during which comparable-store sales increased 5.4% compared with the same period in 2019. Walk-in comparable store sales increased 9.1% while Special Event comparable store sales declined 42.0% for the eight-week period compared with 2019."
More after the earnings call in the AM.
How will the commentary change when we compare it against April?
DPC Dash files Hong Kong IPO
This will make eight publically traded DPZ franchisees
DPC Dash is Domino's Pizza's exclusive master franchisee in the China mainland, Hong Kong and Macau and it directly operates 485 stores across 10 cities in the China mainland. It is the fastest-growing among China's top five pizza brands, as well as the third-largest in terms of 2020 revenue. Financials (FY21 vs FY20): Net income attributable (CNY471.1M) vs (CNY274.1M) Revenue CNY1.61B vs CNY1.10B; Pretax income (CNY478.1M) vs (CNY267.7M); Same-store sales growth +18.7% y/y vs +9% y/y
Doordash and BJRI
DASH Expansion into new markets is going to be expensive. DASH is a SHORT
There was no insight from the DASH BLOG on how this will work for the DASHERS. BJ’s said DoorDash will offer customers 30% off their order of $100 or more (up to a total of $40) from March 29 to April 12 for BJ’s on the marketplace. BJ’s Wholesale Club said today it has partnered with DoorDash for on-demand grocery delivery from its 226 stores in 17 states. BJ’s said it is the “first wholesale club available on the DoorDash marketplace, providing consumers with access to home essentials and grocery needs on-demand. BJ’s products can be purchased directly on the DoorDash app, offering members and non-members alike access to thousands of BJ’s items on-demand. BJ’s members can also link their wholesale club card to receive lower, member-only pricing.” BJ’s said the partnership “will also enable same-day delivery from BJs.com powered by DoorDash Drive, DoorDash’s white-label fulfillment platform that powers direct delivery for any business, to help BJ’s members receive their orders directly to their home.”
