Dave & Buster's Entertainment Inc Q3 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jake Rowland Bartlett - Truist Securities, Inc., Research Division - Analyst : Brian, my first is on the deceleration of the same-store sales. We're actually really focusing in on the stores that remain open in the comp base, a deceleration in the quarter-to-date from late October. Can you just aggregate what the impact has been on stores that have not had any change in restrictions? I'm trying to -- it seems mathematical. Obviously, if there's restrictions being reimposed. But in the stores that have not -- for instance, stores in Florida, and you gave us such great detail in the deck from mid-October. Have markets that have not been directly affected by reclosures, have those also decelerated fairly meaningfully?

Question: Jake Rowland Bartlett - Truist Securities, Inc., Research Division - Analyst : You as well.

Question: Jake Rowland Bartlett - Truist Securities, Inc., Research Division - Analyst : Got it. Great. Okay. That makes a lot of sense. And my next question is just on the work that you're doing with your initiatives around the menu and around some of the operational improvements. When you look out into the future, maybe it's a year, a couple of years, if you were to -- when you regain your sales how much more efficient do you think you'd be? And I'm not sure how you know -- what the best way to frame that is. Some companies have talked about we would need 90% of our sales to achieve the same level of profitability or something like that. So is there a way you can frame how we should think about these -- your more efficient model coming out of COVID, just really to the extent that it's going to be more efficient. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 10, 2020 / 10:00PM, PLAY.OQ - Q3 2020 Dave & Buster's Entertainment Inc Earnings Call

Question: Jake Rowland Bartlett - Truist Securities, Inc., Research Division - Analyst : Okay. And just lastly, very helpful to see what the kind of the EBITDA burn rate is in November. Things are going to change here in December, as you talked about kind of on a year-over-year basis being much lower just because they're high-volume weeks and months. But can you help us out on really from a free cash flow level, and that's kind of including the deferrals, interest expense, what you think the EBITDA might be. But just trying to understand how -- what kind of cash burn do you expect in the fourth quarter. Maybe it's a wide range, but I'm just trying to get a better idea of that.