Dave & Buster’s is one way malls are filling all those empty Sears stores
- Dave & Buster’s is seeking rapid unit expansion in 2018, forecasting growth of about 14 percent this year, or about 14 new locations.
- Adding brands like Dave & Buster’s to malls has become increasingly important to landlords and real estate firms, especially as foot traffic in these locations continues to decline.
- The company is testing out an even smaller model of its typical Dave & Buster’s layout in Arkansas this year. That location opened this week.
As traditional mall anchors shutter, there’s one brand that’s staying the course on its expansion plans in 2018 — Dave & Buster’s.
The company, best known for its arcade games and sports-bar food, has high expectations for increasing its number of locations this year, forecasting growth of about 14 percent this year, or about 14 new locations.
That includes one new location opened in Arkansas this week and another that is slated to debut next week on the second floor of what was once a Sears at the Willowbrook Mall in Wayne, New Jersey.
“We are growing at more than 10 percent a year, most folks are not growing at that kind of pace,” CEO Steve King told CNBC.
As of Dec. 29, Dave & Buster’s had signed 29 leases for locations that are expected to open between now and 2019.
(Source: Dave & Buster’s)
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Sarah Whitten, CNBC.com