Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) Q2 2019 Earnings Conference Call Transcript
Sep 10, 2019 • 05:00 pm ET
Scott J. Bowman
$274 million to $284 million. This compares to prior guidance of $283 million to $295 million. In terms of quarterly phasing, Q3 includes an estimated $2 million in one-time charges related to our cost-saving initiatives as well as increased marketing to promote our Wow Walls and mobile app initiatives. Also keep in mind that in Q3 last year, we recognized $2.2 million in business interruption insurance recoveries that had a favorable impact on EBITDA.
Thank you for your interest in Dave & Buster's. Now I will turn the call back over to Brian.
Brian A. Jenkins
Thank you, Scott. Our decision to reset guidance was not taken lightly. And was taken in context of what we've seen in the marketplace since our last earnings call and the recent comp trends Scott mentioned. We have many reasons to be encouraged for the back half of the year. But at the same time, we are cognizant of recent volatility and potential risk. As such, the midpoint of our revised guidance assumes no near-term improvement from current trends, and the upper end of our guidance assumes modest impact of initiatives starting in Q4.
I'd like to close by thanking our team for their dedication and hard work as we focus on our five near-term priorities, namely revitalizing the existing stores, building deeper guest engagement, managing cost to fuel organic growth, investing in high return opportunities and returning capital to shareholders. As always, we appreciate our shareholders for your continued support and interest in Dave & Buster's.
Now we'd be happy to answer your questions during Q&A. Lisa, please open the lines.