Financial research concept

Entertainment Venue Comparable Store Sales Growth

measures year-over-year sales change for venues that satisfy the issuer's comparable-store seasoning rules.

By Lee BaileyPublished Sep 26, 2026

Research context

See what supports this page, how current it is, and where comparable or historical context is available.

Research date: Sep 26, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context: 17 connected conceptsPart of the reviewed Entertainment Venue Store Economics; issuer definitions remain distinct where disclosed.
Company examples: 1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.

The decline was a mature-store demand problem
The comparable population is deliberately delayed
Fiscal-calendar treatment can affect the comparison
Part of the Entertainment Venue Store Economics
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Entertainment venue comparable-store sales growth measures year-over-year revenue change for a seasoned store population under the issuer's eligibility rules.

Dave & Buster's reported a 5.0% decrease in comparable-store sales in fiscal 2025.

The decline was a mature-store demand problem

Management said the decrease in comparable-store revenue was driven primarily by lower walk-in business relative to the prior year.

That matters because total revenue can be supported by new stores even when the seasoned estate is weakening. Dave & Buster's total revenue declined only 1.4% in fiscal 2025 because incremental sales from new stores partly offset the comparable-store decline.

The comparable population is deliberately delayed

Dave & Buster's historically includes stores only after they have been owned and open for a full 18 months before the start of the fiscal year and excludes stores permanently closed during the period.

That seasoning rule helps keep first-year new-store ramp out of the comp calculation.

Fiscal-calendar treatment can affect the comparison

Dave & Buster's noted that fiscal 2024 contained two additional revenue days because it changed its fiscal year-end day. The company therefore discussed a fiscal-period adjustment when comparing comp revenues.

Comparable-store sales is consequently an issuer-defined operating measure, not a universal GAAP growth rate. Preserve the store population and calendar treatment before comparing companies.

Primary source: Dave & Buster's fiscal 2025 Form 10-K.

Part of the Entertainment Venue Store Economics

Connects entertainment and dining revenue mix with product-cost rates, comparable-store performance, new-store development and maturation, operating-cost leverage, pre-opening expense, and capital reinvestment for large-format entertainment venues.

Browse the full operating model in Company Analysis →

Where this concept fits

Seasoned-store performance, noncomparable exposure, and new-store maturationCurrent relationship
Comparable-store sales growth measures the seasoned base, while comparable and noncomparable operating weeks expose the time contribution behind each population. The comparable-store base count and honeymoon effect help distinguish mature-store performance from early new-store sales patterns.
Comparable Store Base Count Comparable Store Operating WeeksComparable Store Sales GrowthCurrent conceptNew Store Honeymoon Effect Noncomparable Store Operating Weeks
Revenue mix, direct product costs, and store-level operating leverage
Entertainment and food-and-beverage revenue mix show what customers spend on inside the venue. Their direct product cost rates preserve different denominators, while payroll and other store operating expense rates show additional store-level cost intensity against total revenue.
Entertainment Cost Rate Entertainment Revenue Entertainment Revenue Mix Food & Beverage Cost Rate Food & Beverage Revenue Food & Beverage Revenue Mix Operating Payroll Rate Other Store Operating Expense Rate
Footprint expansion, launch expense, and capital reinvestment
Ending company-owned store count and new-store openings show the physical venue base and expansion flow. Pre-opening costs capture launch expense before operations begin, while capital expenditures show cash invested in new stores, remodels, games, technology, and other property and equipment.
Capital Expenditures Company-Owned Store Count New Store Openings Pre-Opening Costs

See It in Company Research

These companies are examples of how the concept is reported or discussed in public filings. Definitions can differ by issuer; these links open company research rather than a normalized metric comparison.

PLAYOpen operating-model research →17 of 17 reviewed concepts in Entertainment Venue Store EconomicsSeasoned-store performance, noncomparable exposure, and new-store maturation5 of 5 bridge concepts supportedContinue through this bridge:Comparable Store Base Count Comparable Store Operating Weeks New Store Honeymoon Effect Noncomparable Store Operating Weeks

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Compare same-store performance

Compare mature-location growth while keeping new-store contribution and issuer-specific comp definitions separate.

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