Dave & Buster's Direction in Question Amid Surprise CEO Departure -- Market Talk

Dow Jones

2024-12-12

1345 ET - Dave & Buster's Entertainment's surprise change at CEO is raising questions about its direction. The Dallas-based arcade-restaurant operator announced the resignation of Chris Morris on Tuesday, with the CEO role being filled on an interim basis by chair of the board Kevin Sheehan. William Blair's Sharon Zackfia in a research note downgrades the company to market perform from outperform on less conviction of a steady improvement in comp trends in 2025. She cites uncertainty on the pace and benefit remodels, as recent ones have generated lower returns than initial ones, as well as in-flux marketing strategy and uncertainty on the overall strategic direction under eventual new leadership. Dave & Buster's tumbles 16%. (denny.jacob@wsj.com; @pennedbyden)

(END) Dow Jones Newswires

December 11, 2024 13:45 ET (18:45 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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The Dallas-based arcade-restaurant operator announced the resignation of Chris Morris on Tuesday, with the CEO role being filled on an interim basis by chair of the board Kevin Sheehan. William Blair's Sharon Zackfia in a research note downgrades the company to market perform from outperform on less conviction of a steady improvement in comp trends in 2025. She cites uncertainty on the pace and benefit remodels, as recent ones have generated lower returns than initial ones, as well as in-flux marketing strategy and uncertainty on the overall strategic direction under eventual new leadership. Dave &amp; Buster's tumbles 16%. 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