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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: LastShadow who wrote (20889)	8/27/1999 7:13:00 PM
From: kendall harmon	Respond to of 43080

DAB for a Monday bounce possibility: Dave & Buster's Shares Fall on 2nd-Qtr Profit Warning (Update3) (Updates with closing share activity.) Dallas, Aug. 27 (Bloomberg) -- The shares of Dave & Buster's Inc. fell 45 percent after the restaurant operator said second- quarter earnings will be about half of analyst forecasts primarily because of lower-than-expected revenue. Dave & Buster's shares fell 11 1/8 to 13 3/4 in trading of 4.6 million, more than 78 times the three-month daily average. The stock of the Dallas-based company had the biggest percentage decline in U.S. trading. Ineffective management at three Southern California restaurants was blamed for the earnings shortfall. The casual- food restaurant chain that draws adults with arcades and interactive games fired its California regional manager and three local managers as part of an effort to cut costs and return to a more desirable level of earnings by the fourth quarter. ''This does not appear to be a market issue, but more associated with execution at several units,'' wrote Andrew M. Barish, an analyst at BancBoston Robertson Stephens in San Francisco, who lowered his rating to ''long-term attractive'' from ''buy.'' ''The Dave & Buster's concept continues to be a strong one.'' The company lowered its second-quarter profit forecast to 14 cents to 16 cents a share. It was expected to earn 28 cents, the average estimate of analysts surveyed by First Call Corp. The company earned 21 cents a year earlier. West Coast Problems Mild early summer weather and weaker-than-expected results at its West Coast stores caused a 2.2 percent decline in sales at restaurants open at least a year for the quarter ended Aug. 1. Revenue for the quarter rose 42 percent to $57.6 million from $40.7 million a year earlier. Analysts had expected $60 million to $61 million. General managers at the company's Ontario, Irvine and Orange County restaurants were fired along with the California regional manager, a spokeswoman said. They were replaced by managers from successful locations. The problems will also cut into third-quarter profit. Some analysts lowered forecasts to 20 cents for the third quarter, a figure Chief Financial Officer Chas Michel said he didn't object to. There will be a return to ''company and shareholder expectations'' in the fourth quarter, the company said in a statement. Four analysts today cut ratings on Dave & Buster's. Two others maintained ''buy'' ratings. Second-quarter results are due to be reported Sept. 9. Dave & Buster's currently runs 21 restaurants in the U.S. with plans to reach 30 by the end of 2000, expanding at a rate of about 30 percent annually. Two restaurants are operated in the U.K. under a licensing agreement with Bass Plc. Licenses have also been granted in Canada, Germany and Taiwan. quote.bloomberg.com

To: LastShadow who wrote (20889)	8/27/1999 9:42:00 PM
From: HandsOn	Read Replies (2) \| Respond to of 43080

Anybody see Ron Insana's hatchet job on TOY interim CEO Today, that was brutal. I can't believe APLX and CORL Today, took Them off my watchlist a few days ago.