0001628280-23-031553 | 10-Q | XBRL Viewer | Dave Busters Entertainment INC

Business Combinations

6 Months Ended

Jul. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Business Combinations On June 29, 2022, the Company acquired Main Event for net cash and contingent consideration. Main Event is also focused on food, drinks, and entertainment, largely for the demographic target of families with young children. The acquisition is expected to put the Company in a strategic position for accelerated, profitable growth in both brands as well as create cost synergies with our Dave & Buster’s brand. We finalized our accounting for the Main Event Acquisition during the twenty-six weeks ended July 30, 2023.

The components of the purchase price and net assets acquired in the Main Event Acquisition are as follows:


	Amount
Gross cash consideration	$	853.2
Contingent consideration (1)	13.8
Less: cash acquired	(34.5)
Total consideration paid	$	832.5
Assets:
Current assets	16.9
Property and equipment	338.3
Operating lease right of use assets	297.2
Tradename	99.2
Other assets and deferred charges	5.8
Liabilities:
Accounts payable	20.1
Current portion of operating lease liabilities	11.6
Accrued liabilities	41.6
Operating lease liabilities	279.2
Deferred tax liabilities	35.8
Other liabilities	6.5
Net assets acquired, excluding goodwill	$	362.6
Goodwill	$	469.9

(1)The Company has an obligation to pay, in cash, an aggregate amount equal to any “Transaction Tax Benefits,” with respect to any taxable year of the Company after the Closing Date ending on or before December 31, 2028, including the current taxable year. This amount is based on the present value of the maximum amount provided in the Merger Agreement.

Unaudited Pro Forma Information

To reflect the Acquisition as if it had occurred on January 31, 2022, the unaudited pro forma results include adjustments to reflect, among other things, the interest expense from debt financings obtained to partially fund the cash consideration transferred. Pro forma adjustments were tax effected at the Company’s historical statutory rates in effect for the respective periods. The unaudited pro forma amounts are not necessarily indicative of the combined results of operations that would have been realized had the acquisitions and related financings occurred on the aforementioned dates, nor are they meant to be indicative of any anticipated combined results of operations that the Company will experience after the transaction. In addition, the amounts do not include any adjustments for actions that may be taken following the completion of the transaction, such as expected cost savings, operating synergies, or revenue enhancements that may be realized subsequent to the transaction.

The following unaudited pro forma information provides the effect of the Main Event Acquisition as if the acquisition had occurred on January 31, 2022:


	Thirteen Weeks Ended		Twenty-Six Weeks Ended
	July 31, 2022		July 31, 2022
Revenues	$	544.6	$	1,120.1
Net income	$	20.4	$	92.7

The historical consolidated financial information of the Company and Main Event, as presented in the table above, has been adjusted to give effect to pro forma events that are directly attributable to the acquisition and related financing arrangements and are factually supportable.

Stockholders' Equity and Share-Based Compensation

6 Months Ended

Jul. 30, 2023

Share-Based Payment Arrangement [Abstract]

Stockholders' Equity and Share-Based Compensation

Share issuances and repurchases

The Company treats shares withheld for tax purposes on behalf of our employees in connection with the vesting of time-based and performance restricted stock units as common stock repurchases because they reduce the number of shares that would have been issued upon vesting. These were immaterial for all periods presented.

On March 27, 2023, our Board of Directors approved a share repurchase program with an authorization limit of $100.0. During the twenty-six weeks ended July 30, 2023, the Company repurchased the full $100.0 authorized amount. On April 19, 2023, our Board of Directors approved an increase to the authorization limit of $200.0 for a total of $300.0 authorized under the program. During the twenty-six weeks ended July 30, 2023, the Company repurchased 5.70 million shares at an average of $35.12 per share. The remaining dollar value of shares that may be repurchased under the program is $100.0 as of July 30, 2023. The repurchase program expires at the end of fiscal 2023.

Share-based compensation

Our compensation expense related to share-based compensation was as follows:


	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	July 30, 2023		July 31, 2022		July 30, 2023		July 31, 2022
General and administrative expenses	$	5.2	$	4.7	$	11.9	$	8.3

Our share-based compensation award activity during the twenty-six weeks ended July 30, 2023 was as follows:


	Options		Restricted Stock Units		Total
Outstanding at January 29, 2023	0.98		1.89		2.87
Granted	0.08		0.26		0.34
Exercised	(0.03)		—		(0.03)

RSU vestings	n/a		(0.23)		(0.23)
Forfeited	(0.05)		(0.13)		(0.18)
Outstanding at July 30, 2023	0.98		1.79		2.77
Remaining unrecognized compensation expense	$	4.6	$	39.1	$	43.7

The fair value of our time-based and performance-based restricted stock units is based on our closing stock price on the date of grant. The grant date fair value of stock options was determined using the Black-Scholes option valuation model. The grant date fair value of performance-based awards with market conditions was determined using the Monte Carlo valuation model. The unrecognized expense will all be substantially recognized by the end of fiscal 2025.

During the twenty-six weeks ended July 30, 2023, the Company granted certain options, time-based, performance-based, and market-based restricted stock units to employees and directors of the Company. These grants vest over a range of one year to 5 years. Certain of the market-based restricted stock units can vest earlier if the targets are achieved prior to that time. As a result, the requisite service period for such grants was determined to be less than the explicit service period.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jul. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are subject to certain legal proceedings and claims that arise in the ordinary course of our business, including claims alleging violations of federal and state law regarding workplace and employment matters, discrimination, slip-and-fall and other customer-related incidents and similar matters. In the opinion of management, based upon consultation with legal counsel, the amount of ultimate liability, with respect to such legal proceedings and claims will not materially affect the consolidated results of our operations or our financial condition. Legal costs related to such claims are expensed as incurred.

Cover Page - shares	6 Months Ended
Cover Page - shares	Jul. 30, 2023	Aug. 31, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 30, 2023
Document Transition Report	false
Entity File Number	001-35664
Entity Registrant Name	Dave & Buster’s Entertainment, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	35-2382255
Entity Address, Address Line One	1221 S. Beltline Rd
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Coppell
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75019
City Area Code	214
Local Phone Number	357-9588
Title of 12(b) Security	Common Stock $0.01 par value
Trading Symbol	PLAY
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		42,945,327
Entity Central Index Key	0001525769
Current Fiscal Year End Date	--02-04
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

Debt - Long-Term Debt (Detail) - USD ($) $ in Millions	Jul. 30, 2023	Jan. 29, 2023
Debt Instrument [Line Items]
Long-term debt	$ 1,340.0	$ 1,287.9
Less current installments of long-term debt	(9.0)	(8.5)
Less issue discounts and debt issuance costs	(52.3)	(56.7)
Long-term debt, net	1,278.7	1,222.7
Credit facility—revolver
Debt Instrument [Line Items]
Credit facility	0.0	0.0
Credit facility—term loan
Debt Instrument [Line Items]
Credit facility	900.0	847.9
Senior secured notes
Debt Instrument [Line Items]
Long-term debt	$ 440.0	$ 440.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jan. 30, 2022
Income Tax Disclosure [Abstract]
Effective tax rate	22.40%	23.30%
Income tax receivable related to CARES Act			$ 24.2

Leases - Summary of Components of Lease Expense (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 2022
Leases [Abstract]
Operating lease cost	$ 49.2	$ 38.8	$ 97.2	$ 73.6
Variable lease cost	8.9	9.1	19.6	18.9
Short-term lease cost	0.9	0.3	1.6	0.4
Total	$ 59.0	$ 48.2	$ 118.4	$ 92.9

Stockholders' Equity and Share-Based Compensation - Schedule of Transactions Related to Stock Option Awards (Detail) - 2014 Stock Incentive Plan shares in Thousands, $ in Millions	6 Months Ended
	Jul. 30, 2023 USD ($) shares
Number of Options
Options outstanding, beginning (in shares)	2,870
Granted (in shares)	340
Exercised (in shares)	(30)
RSU vestings (in shares)	(230)
Forfeited (in shares)	(180)
Options outstanding, ending (in shares)	2,770
Remaining unrecognized compensation expense \| $	$ 43.7
Options
Number of Options
Options outstanding, beginning (in shares)	980
Granted (in shares)	80
Exercised (in shares)	(30)
Forfeited (in shares)	(50)
Options outstanding, ending (in shares)	980
Remaining unrecognized compensation expense \| $	$ 4.6
Restricted Stock Units
Number of Options
Options outstanding, beginning (in shares)	1,890
Granted (in shares)	260
Exercised (in shares)	0
RSU vestings (in shares)	(230)
Forfeited (in shares)	(130)
Options outstanding, ending (in shares)	1,790
Remaining unrecognized compensation expense \| $	$ 39.1

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jul. 30, 2023	Jan. 29, 2023
Statement of Financial Position [Abstract]
Accumulated depreciation	$ 1,130.2	$ 1,043.7
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,000,000.00	400,000,000.00
Common stock, shares issued (in shares)	62,690,000	62,420,000
Common stock, shares outstanding (in shares)	42,970,000	48,410,000
Preferred stock, shares authorized (in shares)	50,000,000.00	50,000,000.00
Preferred stock, shares issued (in shares)	0	0
Beginning balance treasury stock, shares (in shares)	19,720,000	14,010,000.00

Summary of Significant Accounting Policies - Schedule of Earnings Per Share, Basic and Diluted (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 2022
Accounting Policies [Abstract]
Basic (in shares)	43,010	48,830	45,470	48,710
Weighted average dilutive impact of awards (in shares)	370	440	360	650
Diluted (in shares)	43,380	49,270	45,830	49,360
Weighted average awards excluded as anti-dilutive (in shares)	510	290	510	180

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	6 Months Ended
	Jul. 30, 2023	Jul. 31, 2022
Cash flows from operating activities:
Net income	$ 96.0	$ 96.1
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	98.0	71.9
Non-cash interest expense	6.0	3.8
Deferred taxes	16.3	18.9
Loss on debt refinancing	11.2	1.5
Share-based compensation	11.9	8.3
Other, net	5.9	5.1
Changes in assets and liabilities, net of assets and liabilities acquired:
Inventories	1.7	(1.7)
Prepaid expenses	(5.6)	(3.9)
Income tax receivable	(7.7)	30.2
Accounts receivable	(1.6)	(2.3)
Other assets and deferred charges	3.5	0.9
Accounts payable	(23.5)	(20.3)
Accrued liabilities	(18.5)	26.9
Income taxes payable	1.2	0.2
Other liabilities	1.4	(2.5)
Net cash provided by operating activities:	196.2	233.1
Cash flows from investing activities:
Capital expenditures	(133.8)	(99.9)
Acquisition of a business, net of cash acquired	0.0	(822.7)
Proceeds from sales of property and equipment	0.4	0.4
Net cash used in investing activities:	(133.4)	(922.2)
Cash flows from financing activities:
Proceeds from term loan and revolver	87.4	821.5
Term loan and revolver payments	(44.3)	(14.0)
Debt issuance costs	(3.1)	(17.7)
Proceeds from the exercise of stock options	0.7	5.6
Repurchases of common stock under share repurchase program	(200.0)	(25.0)
Repurchases of common stock to satisfy employee withholding tax obligations	(2.5)	(6.8)
Net cash provided by (used in) financing activities:	(161.8)	763.6
Increase (decrease) in cash and cash equivalents	(99.0)	74.5
Beginning cash and cash equivalents	181.6	25.9
Ending cash and cash equivalents	82.6	100.4
Supplemental disclosures of cash flow information:
Change in fixed asset accounts payable	8.4	5.2
Cash paid (refund received) for income taxes, net	17.8	(20.6)
Cash paid for interest, net	$ 57.9	$ 22.0

Subsequent Event	6 Months Ended
Subsequent Event	Jul. 30, 2023
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventOn September 4, 2023, our Board of Directors authorized an additional $100.0 under an existing share repurchase program (see Note 8), under which the Company may repurchase shares on the open market, through privately negotiated transactions and through trading plans. The share repurchase program may be modified, suspended, or discontinued at any time. After the additional authorized amount, the remaining dollar value of shares that may be repurchased under the program is $200.0. Future decisions to repurchase shares continue to be at the discretion of the Board of Directors and will be dependent on our operating performance, financial condition, capital expenditure requirements and other factors that the Board of Directors considers relevant.

Summary of Significant Accounting Policies - Schedule of Debt Securities, Available-for-Sale (Detail) - USD ($) $ in Millions	Jul. 30, 2023	Jan. 29, 2023
Description Of Business And Basis Of Presentation [Line Items]
Long-term debt, fair value	$ 1,346.6	$ 1,306.3
Credit facility—revolver
Description Of Business And Basis Of Presentation [Line Items]
Long-term debt, fair value	0.0	0.0
Term loan
Description Of Business And Basis Of Presentation [Line Items]
Long-term debt, fair value	900.6	864.5
Senior secured notes
Description Of Business And Basis Of Presentation [Line Items]
Long-term debt, fair value	$ 446.0	$ 441.8

Goodwill and Tradename Assets (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jul. 30, 2023	Jan. 29, 2023
Goodwill [Roll Forward]
Beginning balance	$ 744.5	$ 272.6
Acquisition of Main Event		471.9
Adjustments to Main Event goodwill	(2.0)
Ending balance	742.5	744.5
Intangible Assets [Roll Forward]
Beginning balance	178.2	79.0
Acquisition of Main Event		99.2
Adjustments to Main Event goodwill	0.0
Ending balance	$ 178.2	$ 178.2

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill and Tradename Assets (Tables)

6 Months Ended

Jul. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amount of Goodwill and Tradename Assets

The changes in the carrying amount of goodwill and tradename assets during fiscal 2023 and fiscal 2022 are as follows:


	Goodwill		Tradename
Balance at January 30, 2022	$	272.6	$	79.0
Acquisition of Main Event (1)	471.9		99.2
Balance at January 29, 2023	$	744.5	$	178.2
Adjustments to Main Event goodwill (1)(2)	(2.0)		—

Balance at July 30, 2023	$	742.5	$	178.2

(1) See Note 2 for discussion of the Main Event acquisition.

(2) Adjustments to preliminary purchase price recorded during the twenty-six weeks ended July 30, 2023. The Company finalized its purchase accounting related to the Main Event acquisition in the second quarter of fiscal 2023.

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jul. 30, 2023

Accounting Policies [Abstract]

Use of estimates

The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosures of contingent assets and liabilities at the date of the consolidated financial statements and for the period then ended. Actual results could differ from those estimates. Operating results for the thirteen and twenty-six weeks ended July 30, 2023 are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year ending February 4, 2024.

Cash and cash equivalents

Cash and cash equivalents — We consider transaction settlements in process from credit card companies and all highly-liquid investments with original maturities of three months or less to be cash equivalents. Our cash management system provides for the daily funding of all major bank disbursement accounts as checks are presented for payment. Under this system, outstanding checks in excess of the cash balances at certain banks create book overdrafts. There were no book overdrafts as of July 30, 2023 or as of January 29, 2023.

Fair value of financial instruments

Fair value of financial instruments — Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. In determining fair value, the accounting standards establish a three-level hierarchy for inputs used in measuring fair value.

The carrying amounts of cash and cash equivalents, accounts and notes receivable, accounts payable, and other current liabilities approximate fair value because of their short-term nature. The fair value of the Company’s debt is determined based on traded price data as of the measurement date, which we classify as a level two input within the fair value hierarchy as defined under GAAP. The fair value of the Company's debt was as follows as of the periods indicated:


	July 30, 2023		January 29, 2023
Revolving credit facility	$	—	—
Term loan	900.6		864.5
Senior secured notes	446.0		441.8
	$	1,346.6	$	1,306.3

The Company also measures certain non-financial assets (primarily property and equipment, right-of-use assets, goodwill, tradenames, and other assets) at fair value on a non-recurring basis in connection with its periodic evaluations of such assets for potential impairment. The Company recorded $1.7 of property and equipment impairment that was removed from service during the thirteen and twenty-six weeks ended July 30, 2023.

Revenue

Revenues — Our entertainment revenues primarily consist of attractions including redemption and simulation games, bowling, laser tag, billiards and gravity ropes. Our food and beverage revenues consist of full meals, appetizers and both alcoholic and non-alcoholic beverages. The Company's revenue for these categories was as follows:


	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	July 30, 2023		July 31, 2022		July 30, 2023		July 31, 2022
Entertainment	$	353.1	$	308.1	$	739.2	$	605.2
Other (1)	7.7		3.3		14.7		5.4
Entertainment revenues	$	360.8	$	311.4	$	753.9	$	610.6

Food and non-alcoholic beverages	$	125.1	$	109.4	$	261.2	$	210.8
Alcoholic beverages	56.2		47.6		124.3		98.1
Food and beverage revenues	$	181.3	$	157.0	$	385.5	$	308.9

(1) Primarily consists of revenue earned from party rentals and gift card redemptions and breakage (see Revenue recognition below).

Revenue recognition — Customers purchase cards with game play credits or “chips” to be used on a variety of redemption and simulation games. Entertainment revenues related to game play are primarily recognized as game play credits are used by customers to activate video and redemption games. Redemption games allow customers to earn tickets, which may be redeemed for prizes. We have deferred a portion of entertainment revenues for the estimated unfulfilled performance obligations related to unredeemed tickets. The deferral is based on an estimated rate of future use by customers of unused game play credits and the material right provided to customers to redeem tickets in the future for prizes. During the twenty-six weeks ended July 30, 2023, we recognized revenue of approximately $43.7 related to the amount in deferred entertainment revenues as of the end of fiscal 2022. These revenues are included in Entertainment revenues on the consolidated comprehensive income statement.

We recognize revenue on unredeemed gift cards in proportion to the pattern of redemption by the customers. During the twenty-six weeks ended July 30, 2023, we recognized revenue of approximately $6.2 related to the amount in deferred gift card revenue as of the end of fiscal 2022. These revenues are included in Entertainment revenues on the consolidated comprehensive income statements.

Earnings per share

Earnings per share — Basic net income per share is computed by dividing net income available to common shareholders by the basic weighted average number of common shares outstanding for the reporting period. Diluted net income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the calculation of diluted net income per share, the basic weighted average shares outstanding is increased by the dilutive effect of stock options and restricted share awards. Stock options and restricted share awards with an anti-dilutive effect are not included in the diluted net income per share calculation.

Acquisitions

Acquisitions — The Company accounts for acquisitions under the acquisition method of accounting, which requires the acquired assets and liabilities, including contingencies, be recorded at fair value determined on the acquisition date and changes thereafter reflected in income. For significant acquisitions, the Company obtains independent third-party valuation studies for certain of the assets acquired and liabilities assumed to assist the Company in determining fair value. The estimation of the fair values of the assets acquired and liabilities assumed involves a number of estimates and assumptions that could differ materially from the actual amounts realized. The Company provides assumptions, including both quantitative and qualitative information, about the specified asset or liability to the third-party valuation firms so they can assist in determining the fair value of assets and liabilities acquired. The Company then records acquired assets and liabilities at their estimated fair value based on the information provided. The third-party valuation firms are supervised by Company personnel who are knowledgeable about valuations and fair value. The Company evaluates the appropriateness of the assumptions and valuation methodologies utilized by the third-party valuation firms.

Recent accounting pronouncements

Recent accounting pronouncements — We reviewed the accounting pronouncements that became effective for fiscal year 2023 and determined that either they were not applicable, or they did not have a material impact on the consolidated financial statements. We also reviewed the recently issued accounting pronouncements to be adopted in future periods and determined that they are not expected to have a material impact on the consolidated financial statements.

Subsequent Event (Details) - USD ($) $ in Millions	Sep. 04, 2023	Jul. 30, 2023	Apr. 19, 2023
Subsequent Event [Line Items]
Additional authorized amount			$ 200.0
Share repurchase program, amount		$ 100.0
Subsequent Event
Subsequent Event [Line Items]
Additional authorized amount	$ 100.0
Share repurchase program, amount	$ 200.0

Stockholders' Equity and Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended				6 Months Ended
	Apr. 30, 2023	Jul. 30, 2023	Apr. 30, 2023	Jul. 31, 2022	May 01, 2022	Jul. 30, 2023	Apr. 19, 2023	Mar. 27, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock repurchase program, authorized amount							$ 300.0	$ 100.0
Repurchase of common stock	$ 100.0	$ 77.3	$ 127.5	$ 30.6	$ 1.2
Additional authorized amount							$ 200.0
Treasury shares acquired not including shares paid for tax withholding for share based compensation (in shares)						5.7
Weighted average price of shares acquired (in dollars per share)						$ 35.12
Share repurchase program, amount		$ 100.0				$ 100.0
Minimum
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting period						1 year
Maximum
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Vesting period						5 years

Debt (Tables)

6 Months Ended

Jul. 30, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consists of the following:


	July 30, 2023		January 29, 2023
Credit facility—revolver	$	—	$	—
Credit facility—term loan	900.0		847.9
Senior secured notes	440.0		440.0
Total debt outstanding	1,340.0		1,287.9
Less current installments of long-term debt	(9.0)		(8.5)
Less issue discounts and debt issuance costs	(52.3)		(56.7)

Long-term debt, net	$	1,278.7	$	1,222.7

Stockholders' Equity and Share-Based Compensation (Tables)

6 Months Ended

Jul. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Compensation Cost for Share-based Payment Arrangement

Our compensation expense related to share-based compensation was as follows:


	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	July 30, 2023		July 31, 2022		July 30, 2023		July 31, 2022
General and administrative expenses	$	5.2	$	4.7	$	11.9	$	8.3

Schedule of Transactions Related to Stock Options Awards

Our share-based compensation award activity during the twenty-six weeks ended July 30, 2023 was as follows:


	Options		Restricted Stock Units		Total
Outstanding at January 29, 2023	0.98		1.89		2.87
Granted	0.08		0.26		0.34
Exercised	(0.03)		—		(0.03)

RSU vestings	n/a		(0.23)		(0.23)
Forfeited	(0.05)		(0.13)		(0.18)
Outstanding at July 30, 2023	0.98		1.79		2.77
Remaining unrecognized compensation expense	$	4.6	$	39.1	$	43.7

Accrued Liabilities

6 Months Ended

Jul. 30, 2023

Accrued Liabilities, Current [Abstract]

Accrued Liabilities

Accrued liabilities consist of the following as of the end of each period:


	July 30, 2023		January 29, 2023
Deferred entertainment revenue	$	119.5	$	114.4
Current portion of operating lease liabilities, net (1)	69.1		64.1
Compensation and benefits	37.9		60.6
Accrued interest	15.7		15.8
Deferred gift card revenue	13.4		16.4
Customer deposits	9.8		8.7
Property taxes	13.2		13.1
Sales and use and other taxes	9.3		10.6
Occupancy and variable rent costs	6.1		9.4
Utilities	7.9		7.2
Current portion of long-term insurance	5.7		6.7
Other	33.2		15.9
Total accrued liabilities	$	340.8	$	342.9

(1)The balance of leasehold incentive receivables of $5.4 and $6.0 as of July 30, 2023 and January 29, 2023, respectively, is reflected as a reduction of the current portion of operating lease liabilities.

Leases - Additional Information (Detail) $ in Millions	Jul. 30, 2023 USD ($) option lease
Operating Leased Assets [Line Items]
Number of options to renew \| option	1
Future minimum rent operating leases not yet commenced \| $	$ 183.6
Number of leases not yet commenced \| lease	10
Minimum
Operating Leased Assets [Line Items]
Term of contract	10 years
Maximum
Operating Leased Assets [Line Items]
Term of contract	20 years

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 30, 2023 USD ($) store state Province	Jul. 30, 2023 USD ($) store state Province Segment	Jan. 29, 2023 USD ($)	Jun. 29, 2022
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Number of stores \| store	211	211
Number of states \| state	42	42
Number of operating segment \| Segment		2
Number of reportable segment \| Segment		1
Book overdrafts reclassified to accounts payable	$ 0.0	$ 0.0	$ 0.0
Impairments of long lived assets	$ 1.7	1.7
Gift Card Revenue
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Deferred amusement revenue		6.2
Other Comprehensive Income (Loss) \| Amusement Revenue
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Deferred amusement revenue		$ 43.7
South Dakota
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Number of stores \| store	7	7
Canada
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Number of provinces \| Province	1	1
Ardent
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Business acquisition, percentage of voting interests acquired				100.00%
Dave And Busters Holdings Inc
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Percentage of outstanding common stock owned	100.00%	100.00%

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jul. 30, 2023	Jan. 29, 2023
Current Assets:
Cash and cash equivalents	$ 82.6	$ 181.6
Inventories	43.7	45.4
Prepaid expenses	25.1	19.5
Income taxes receivable	33.2	25.5
Accounts receivable	23.4	21.7
Total current assets	208.0	293.7
Property and equipment (net of $1,130.2 and $1,043.7 of accumulated depreciation as of July 30, 2023 and January 29, 2023, respectively)	1,221.7	1,180.2
Operating lease right of use assets, net	1,352.7	1,333.6
Tradenames	178.2	178.2
Goodwill	742.5	744.5
Other assets and deferred charges	26.3	30.8
Total assets	3,729.4	3,761.0
Current Liabilities
Current installments of long-term debt	9.0	8.5
Accounts payable	69.6	84.7
Accrued liabilities	340.8	342.9
Income taxes payable	3.1	1.9
Total current liabilities	422.5	438.0
Deferred income taxes	83.5	66.3
Operating lease liabilities	1,586.8	1,567.8
Other liabilities	43.5	55.7
Long-term debt, net	1,278.7	1,222.7
Commitments and contingencies
Stockholders’ equity:
Common stock, par value $0.01; authorized: 400.00 shares; issued: 62.69 shares at July 30, 2023 and 62.42 at January 29, 2023; outstanding: 42.97 shares at July 30, 2023 and 48.41 at January 29, 2023	0.6	0.6
Preferred stock, 50.00 authorized; none issued	0.0	0.0
Paid-in capital	590.1	577.5
Treasury stock, 19.72 and 14.01 shares as of July 30, 2023 and January 29, 2023, respectively	(843.8)	(639.0)
Accumulated other comprehensive loss	(0.8)	(0.9)
Retained earnings	568.3	472.3
Total stockholders’ equity	314.4	410.5
Total liabilities and stockholders’ equity	$ 3,729.4	$ 3,761.0

Debt

6 Months Ended

Jul. 30, 2023

Debt Disclosure [Abstract]

Debt

Long-term debt consists of the following:


	July 30, 2023		January 29, 2023
Credit facility—revolver	$	—	$	—
Credit facility—term loan	900.0		847.9
Senior secured notes	440.0		440.0
Total debt outstanding	1,340.0		1,287.9
Less current installments of long-term debt	(9.0)		(8.5)
Less issue discounts and debt issuance costs	(52.3)		(56.7)

Long-term debt, net	$	1,278.7	$	1,222.7

June 29, 2022 Credit Facility

In connection with the closing of the Main Event Acquisition on June 29, 2022, D&B Inc entered into a senior secured credit agreement, which refinanced the $500.0 existing revolving facility, extended the maturity date to June 29, 2027, and added a new term loan facility in the aggregate principal amount of $850.0, with a maturity date of June 29, 2029 (“Credit Facility”). The proceeds of the term loan, net of an original issue discount of $42.5, were used to pay the consideration for the Acquisition. The revolving credit facility can expire before the stated maturity date if the aggregate outstanding principal amount of the 7.625% senior notes (described below) exceeds $100.0 91 days prior to November 1, 2025. A portion of the revolving facility not to exceed $35.0 is available for the issuance of letters of credit.

As of July 30, 2023, we had letters of credit outstanding of $9.8 and an unused commitment balance of $490.2 under the revolving facility. The Credit Facility may be increased through incremental facilities, by an amount equal to the greater of (i) $400.0 and (ii) 0.75 times trailing twelve-month Adjusted EBITDA, as defined, plus additional amounts subject to compliance with applicable leverage ratio and/or interest coverage ratio requirements. The Credit Facility is unconditionally guaranteed by D&B Holdings and certain of D&B Inc’s existing and future wholly owned material domestic subsidiaries.

During fiscal 2020, the Company issued $550.0 aggregate principal amount of 7.625% senior secured notes (the “Notes”). Interest on the Notes is payable in arrears on November 1 and May 1 of each year. The Notes mature on November 1, 2025, unless earlier redeemed, and are subject to the terms and conditions set forth in the related indenture. The Notes were issued by D&B Inc and are unconditionally guaranteed by D&B Holdings and certain of D&B Inc’s existing and future wholly owned material domestic subsidiaries. During fiscal 2022, the Company redeemed a total of $110.0 outstanding principal amount of the Notes. The Company may elect to further redeem the Notes, in whole or in part, at certain specified redemption prices, plus accrued and unpaid interest, at the redemption date.

First Amendment to the Credit Facility (the "Amendment")

On June 30, 2023, D&B Inc entered into the Amendment with its banking syndicate, which amended the Credit Facility. The Amendment provides for a new tranche of term loans in an aggregate principal amount of $900.0 (the “2023 Term B Loans”) which consist of $843.6 of 2023 refinancing Term B Loans which refinanced in full the term loans outstanding immediately prior to the Amendment effective date and $56.4 of 2023 additional Term B Loans, which will be used for general corporate and working capital purposes. The 2023 Term B Loans were issued with an original issue discount of 1%, reduced the interest rate margin applicable to term loans and revolving loans outstanding under the Credit Agreement by 1.25% and otherwise have terms substantially the same as the terms of the existing Term B Loans under the June 29, 2022 Credit Facility. The 2023 Term B Loans may be prepaid at any time, without premium or penalty, but are subject to a prepayment premium of 1.00% (subject to certain exceptions) if certain refinancing of, or amendment to, reduce the all-in-yield of the 2023 Term B Loans is made at any time during the first six months after the Amendment effective date.

The 2023 Term B Loans will bear interest at Term SOFR (plus an additional credit spread adjustment of 0.10%) or ABR (each, as defined in the amended Credit Agreement) plus (i) in the case of Term SOFR loans, 3.75% per annum and (ii) in the case of ABR loans, 2.75% per annum. The Revolving Loans will continue to bear interest subject to a pricing grid based on the Borrower’s net total leverage, at Term SOFR (plus an additional credit spread adjustment of 0.10%) plus a spread ranging from 3.00% to 3.50% per annum or ABR plus a spread ranging from 2.00% to 2.50% per annum. Unused commitments under the revolving facility incur initial commitment fees of 0.30% to 0.50%.

Loss on debt refinancing and amortization of issuance costs

Immediately prior to the Amendment, the Company had $46.9 of unamortized issuance discounts and costs. As certain lenders exited the syndicate and were replaced by new syndicate members and the term loan facility was increased in size, a portion of the term loan facility was deemed extinguished and a portion was determined to be modified. As a result, $8.5 of unamortized costs were written off and $2.7 of new fees were expensed on the modified portion resulting in a total charge of $11.2 included in loss on debt refinancing on the consolidated statement of income for the thirteen and twenty-six weeks ended July 31, 2022. The remaining $38.4 of the unamortized issuance discounts and $9.4 of new issuance discount and costs were deferred and will be amortized into interest expense, net.

Amortization of debt issuance costs and original issue discount was $3.0 and $2.6 for the twenty-six weeks ended July 30, 2023 and July 31, 2022, respectively. The Company’s weighted average effective interest rate on our total debt facilities was 10.3% and 10.1% for the twenty-six weeks ended July 30, 2023 and July 31, 2022, respectively.

Restrictive covenants and debt compliance

Our debt agreements contain restrictive covenants that, among other things, place certain limitations on our ability to incur additional indebtedness, make loans or advances to subsidiaries and other entities, pay dividends, acquire other businesses or sell assets. The Credit Facility also requires the Company to maintain a maximum net total leverage ratio, as defined, as of the end of each fiscal quarter. We were in compliance with our covenants and the terms of our debt agreements as of July 30, 2023.

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jul. 30, 2023

Accounting Policies [Abstract]

Schedule of Debt Securities, Available-for-Sale

The fair value of the Company's debt was as follows as of the periods indicated:


	July 30, 2023		January 29, 2023
Revolving credit facility	$	—	—
Term loan	900.6		864.5
Senior secured notes	446.0		441.8
	$	1,346.6	$	1,306.3

Summary of Revenue from Segments

The Company's revenue for these categories was as follows:


	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	July 30, 2023		July 31, 2022		July 30, 2023		July 31, 2022
Entertainment	$	353.1	$	308.1	$	739.2	$	605.2
Other (1)	7.7		3.3		14.7		5.4
Entertainment revenues	$	360.8	$	311.4	$	753.9	$	610.6

Food and non-alcoholic beverages	$	125.1	$	109.4	$	261.2	$	210.8
Alcoholic beverages	56.2		47.6		124.3		98.1
Food and beverage revenues	$	181.3	$	157.0	$	385.5	$	308.9

(1) Primarily consists of revenue earned from party rentals and gift card redemptions and breakage (see Revenue recognition below).

Schedule of Earnings Per Share, Basic and Diluted

Basic weighted average shares outstanding are reconciled to diluted weighted average shares outstanding as follows:


	Thirteen Weeks Ended		Twenty-Six Weeks Ended
	July 30, 2023	July 31, 2022	July 30, 2023	July 31, 2022
Basic weighted average shares outstanding	43.01	48.83	45.47	48.71
Weighted average dilutive impact of awards	0.37	0.44	0.36	0.65
Diluted weighted average shares outstanding	43.38	49.27	45.83	49.36
Weighted average awards excluded as anti-dilutive	0.51	0.29	0.51	0.18

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

Stockholders' Equity and Share-Based Compensation - Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation			$ 11.9	$ 8.3
General and administrative expenses
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	$ 5.2	$ 4.7	$ 11.9	$ 8.3

Income Taxes	6 Months Ended
Income Taxes	Jul. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate for the twenty-six weeks ended July 30, 2023, was 22.4%, compared to 23.3% for the twenty-six weeks ended July 31, 2022. The current year tax provision includes a favorable state apportionment impact resulting from the acquisition of Main Event and legal entity restructuring as well as lower permanent differences, primarily non-deductible transaction costs as compared to the prior year. On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was signed into law. Intended to provide economic relief to those impacted by the COVID-19 pandemic, the CARES Act includes provisions, among others, allowing for the carryback of net operating losses generated in fiscal 2018, 2019 and 2020. The Company has $24.2 of federal tax refunds remaining from the fiscal 2020 carryback claim filed during fiscal 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 21
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Paragraph 2
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Business Combinations (Tables)

6 Months Ended

Jul. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Summary of Purchase Price and Net Assets Acquired in the Acquisition

The components of the purchase price and net assets acquired in the Main Event Acquisition are as follows:


	Amount
Gross cash consideration	$	853.2
Contingent consideration (1)	13.8
Less: cash acquired	(34.5)
Total consideration paid	$	832.5
Assets:
Current assets	16.9
Property and equipment	338.3
Operating lease right of use assets	297.2
Tradename	99.2
Other assets and deferred charges	5.8
Liabilities:
Accounts payable	20.1
Current portion of operating lease liabilities	11.6
Accrued liabilities	41.6
Operating lease liabilities	279.2
Deferred tax liabilities	35.8
Other liabilities	6.5
Net assets acquired, excluding goodwill	$	362.6
Goodwill	$	469.9

Summary of Unaudited Pro Forma Information Provides the Effect of the Main Event Acquisition

The following unaudited pro forma information provides the effect of the Main Event Acquisition as if the acquisition had occurred on January 31, 2022:


	Thirteen Weeks Ended		Twenty-Six Weeks Ended
	July 31, 2022		July 31, 2022
Revenues	$	544.6	$	1,120.1
Net income	$	20.4	$	92.7

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED) - USD ($) shares in Thousands, $ in Millions	Total	Common Stock	Paid-In Capital	Treasury Stock At Cost	Accumulated Other Comprehensive Loss	Retained Earnings
Beginning balance (in shares) at Jan. 30, 2022		61,560
Beginning balance at Jan. 30, 2022	$ 275.5	$ 0.6	$ 548.8	$ (605.4)	$ (3.6)	$ 335.1
Beginning balance (in shares) at Jan. 30, 2022				13,070
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	67.0					67.0
Derivatives, net of tax	1.3				1.3
Share-based compensation	3.6		3.6
Issuance of common stock (in shares)		250
Issuance of common stock	5.6		5.6
Repurchase of common stock (in shares)				30
Repurchase of common stock	(1.2)			$ (1.2)
Ending balance at May. 01, 2022	351.8	$ 0.6	558.0	$ (606.6)	(2.3)	402.1
Ending balance (in shares) at May. 01, 2022		61,810
Ending balance (in shares) at May. 01, 2022				13,100
Beginning balance (in shares) at Jan. 30, 2022		61,560
Beginning balance at Jan. 30, 2022	275.5	$ 0.6	548.8	$ (605.4)	(3.6)	335.1
Beginning balance (in shares) at Jan. 30, 2022				13,070
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	96.1
Unrealized foreign currency translation gain	0.0
Derivatives, net of tax	2.7
Ending balance at Jul. 31, 2022	356.4	$ 0.6	562.7	$ (637.2)	(0.9)	431.2
Ending balance (in shares) at Jul. 31, 2022		62,210
Ending balance (in shares) at Jul. 31, 2022				13,990
Beginning balance (in shares) at May. 01, 2022		61,810
Beginning balance at May. 01, 2022	351.8	$ 0.6	558.0	$ (606.6)	(2.3)	402.1
Beginning balance (in shares) at May. 01, 2022				13,100
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	29.1					29.1
Unrealized foreign currency translation gain	0.0
Derivatives, net of tax	1.4				1.4
Share-based compensation	4.7		4.7
Issuance of common stock (in shares)		400
Repurchase of common stock (in shares)				890
Repurchase of common stock	(30.6)			$ (30.6)
Ending balance at Jul. 31, 2022	$ 356.4	$ 0.6	562.7	$ (637.2)	(0.9)	431.2
Ending balance (in shares) at Jul. 31, 2022		62,210
Ending balance (in shares) at Jul. 31, 2022				13,990
Beginning balance (in shares) at Jan. 29, 2023	48,410	62,420
Beginning balance at Jan. 29, 2023	$ 410.5	$ 0.6	577.5	$ (639.0)	(0.9)	472.3
Beginning balance (in shares) at Jan. 29, 2023	14,010			14,010
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 70.1					70.1
Share-based compensation	6.7		6.7
Issuance of common stock (in shares)		90
Issuance of common stock	0.1		0.1
Repurchase of common stock (in shares)				3,620
Repurchase of common stock	(127.5)			$ (127.5)
Ending balance at Apr. 30, 2023	$ 359.9	$ 0.6	584.3	$ (766.5)	(0.9)	542.4
Ending balance (in shares) at Apr. 30, 2023		62,510
Ending balance (in shares) at Apr. 30, 2023				17,630
Beginning balance (in shares) at Jan. 29, 2023	48,410	62,420
Beginning balance at Jan. 29, 2023	$ 410.5	$ 0.6	577.5	$ (639.0)	(0.9)	472.3
Beginning balance (in shares) at Jan. 29, 2023	14,010			14,010
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 96.0
Unrealized foreign currency translation gain	0.1
Derivatives, net of tax	0.0
Ending balance at Jul. 30, 2023	$ 314.4	$ 0.6	590.1	$ (843.8)	(0.8)	568.3
Ending balance (in shares) at Jul. 30, 2023	42,970	62,690
Ending balance (in shares) at Jul. 30, 2023	19,720			19,720
Beginning balance (in shares) at Apr. 30, 2023		62,510
Beginning balance at Apr. 30, 2023	$ 359.9	$ 0.6	584.3	$ (766.5)	(0.9)	542.4
Beginning balance (in shares) at Apr. 30, 2023				17,630
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	25.9					25.9
Unrealized foreign currency translation gain	0.1				0.1
Derivatives, net of tax	0.0
Share-based compensation	5.2		5.2
Issuance of common stock (in shares)		180
Issuance of common stock	0.6		0.6
Repurchase of common stock (in shares)				2,090
Repurchase of common stock	(77.3)			$ (77.3)
Ending balance at Jul. 30, 2023	$ 314.4	$ 0.6	$ 590.1	$ (843.8)	$ (0.8)	$ 568.3
Ending balance (in shares) at Jul. 30, 2023	42,970	62,690
Ending balance (in shares) at Jul. 30, 2023	19,720			19,720

Accrued Liabilities - Accrued Liabilities (Detail) - USD ($) $ in Millions	Jul. 30, 2023	Jan. 29, 2023
Accrued Liabilities, Current [Abstract]
Deferred entertainment revenue	$ 119.5	$ 114.4
Current portion of operating lease liabilities, net	69.1	64.1
Compensation and benefits	37.9	60.6
Accrued interest	15.7	15.8
Deferred gift card revenue	13.4	16.4
Customer deposits	9.8	8.7
Property taxes	13.2	13.1
Sales and use and other taxes	9.3	10.6
Occupancy and variable rent costs	6.1	9.4
Utilities	7.9	7.2
Current portion of long-term insurance	5.7	6.7
Other	33.2	15.9
Total accrued liabilities	$ 340.8	$ 342.9
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total accrued liabilities	Total accrued liabilities
Receivables for tenant improvement allowances	$ 5.4	$ 6.0

Business Combinations - Summary of Purchase Price and Net Assets Acquired in the Acquisition (Detail) - USD ($) $ in Millions	Jun. 29, 2022	Jul. 30, 2023	Jan. 29, 2023	Jan. 30, 2022
Liabilities:
Goodwill		$ 742.5	$ 744.5	$ 272.6
Main Event
Business Acquisition [Line Items]
Gross cash consideration	$ 853.2
Contingent consideration	13.8
Less: cash acquired	(34.5)
Total consideration paid	832.5
Assets:
Current assets	16.9
Property and equipment	338.3
Operating lease right of use assets	297.2
Tradename	99.2
Other assets and deferred charges	5.8
Liabilities:
Accounts payable	20.1
Current portion of operating lease liabilities	11.6
Accrued liabilities	41.6
Operating lease liabilities	279.2
Deferred tax liabilities	35.8
Other liabilities	6.5
Net assets acquired, excluding goodwill	362.6
Goodwill	$ 469.9

Accrued Liabilities (Tables)

6 Months Ended

Jul. 30, 2023

Accrued Liabilities, Current [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consist of the following as of the end of each period:


	July 30, 2023		January 29, 2023
Deferred entertainment revenue	$	119.5	$	114.4
Current portion of operating lease liabilities, net (1)	69.1		64.1
Compensation and benefits	37.9		60.6
Accrued interest	15.7		15.8
Deferred gift card revenue	13.4		16.4
Customer deposits	9.8		8.7
Property taxes	13.2		13.1
Sales and use and other taxes	9.3		10.6
Occupancy and variable rent costs	6.1		9.4
Utilities	7.9		7.2
Current portion of long-term insurance	5.7		6.7
Other	33.2		15.9
Total accrued liabilities	$	340.8	$	342.9

Summary of Significant Accounting Policies - Revenue (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenues	$ 542.1	$ 468.4	$ 1,139.4	$ 919.5
Entertainment
Disaggregation of Revenue [Line Items]
Total revenues	353.1	308.1	739.2	605.2
Other Entertainment
Disaggregation of Revenue [Line Items]
Total revenues	7.7	3.3	14.7	5.4
Entertainment revenues
Disaggregation of Revenue [Line Items]
Total revenues	360.8	311.4	753.9	610.6
Food and non-alcoholic beverages
Disaggregation of Revenue [Line Items]
Total revenues	125.1	109.4	261.2	210.8
Alcoholic beverages
Disaggregation of Revenue [Line Items]
Total revenues	56.2	47.6	124.3	98.1
Food and beverage revenues
Disaggregation of Revenue [Line Items]
Total revenues	$ 181.3	$ 157.0	$ 385.5	$ 308.9

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 22
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 32
-Subparagraph (b)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 40
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Summary of Significant Accounting Policies

6 Months Ended

Jul. 30, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

The accompanying consolidated financial statements include the accounts of Dave & Buster’s Entertainment, Inc. (referred to herein as the “Company”, “we,” “us” and “our”), any predecessor companies and its wholly-owned subsidiaries, Dave & Buster’s Holdings, Inc. (“D&B Holdings”), which owns 100% of the outstanding common stock of Dave & Buster’s, Inc. (“D&B Inc”), the operating company. The Company, headquartered in Coppell, Texas, is a leading operator of high-volume entertainment and dining venues (“stores”) in North America for adults and families.

On June 29, 2022 (the “Closing Date”), the Company completed its acquisition (the “Main Event Acquisition” or “the Acquisition”) of 100% of the equity interests of Ardent Leisure US Holding Inc. (“Ardent US”), pursuant to that certain Agreement and Plan of Merger (the “Merger Agreement”), dated April 6, 2022, by and among the Company, Ardent US, Delta Bravo Merger Sub, Inc, the Company’s wholly-owned subsidiary formed for the purpose of completing the transactions set forth in the Merger Agreement, for the limited purposes set forth therein, Ardent Leisure Group Limited (“Ardent”), and, for the limited purposes set forth therein, RB ME LP (“RedBird”) and RB ME Blocker, LLC, RB ME Series 2019 Investor Aggregator LP and RedBird Series 2019 GP Co-Invest, LP. Refer to Note 2, Business Combinations, for further discussion of the Main Event Acquisition.

During the twenty-six weeks ended July 30, 2023, the Company opened seven stores, and as of July 30, 2023, the Company owned and operated 211 stores in 42 states, Puerto Rico and one Canadian province.

The Company operates its business as two operating segments based on its major brands, Dave & Buster's and Main Event. The Company has one reportable segment as both brands provide similar products and services to a similar customer base, are managed together by a single management team and share similar economic characteristics.

The Company operates on a 52 or 53-week fiscal year that ends on the Sunday after the Saturday closest to January 31. Each quarterly period reported has 13 weeks. Fiscal 2023, which ends on February 4, 2024, has 53 weeks. Fiscal 2022, which ended on January 29, 2023, had 52 weeks.

The Company’s financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States for interim financial information as prescribed by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all the information and notes required by GAAP for complete financial statements. In the opinion of management, these financial statements contain all adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position, results of operations and cash flows for the periods indicated. Our quarterly financial data should be read in conjunction with the audited financial statements and notes thereto for the year ended January 29, 2023, included in our Annual Report on Form 10-K. Amounts in the consolidated financial statements of this Quarterly Report on Form 10-Q are presented in millions. The amounts in the consolidated financial statements, and the notes thereto, of our Annual Report on Form 10-K were presented in thousands.


	July 30, 2023		January 29, 2023
Revolving credit facility	$	—	—
Term loan	900.6		864.5
Senior secured notes	446.0		441.8
	$	1,346.6	$	1,306.3


	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	July 30, 2023		July 31, 2022		July 30, 2023		July 31, 2022
Entertainment	$	353.1	$	308.1	$	739.2	$	605.2
Other (1)	7.7		3.3		14.7		5.4
Entertainment revenues	$	360.8	$	311.4	$	753.9	$	610.6

Food and non-alcoholic beverages	$	125.1	$	109.4	$	261.2	$	210.8
Alcoholic beverages	56.2		47.6		124.3		98.1
Food and beverage revenues	$	181.3	$	157.0	$	385.5	$	308.9

(1) Primarily consists of revenue earned from party rentals and gift card redemptions and breakage (see Revenue recognition below).

restricted share awards with an anti-dilutive effect are not included in the diluted net income per share calculation. Basic weighted average shares outstanding are reconciled to diluted weighted average shares outstanding as follows:


	Thirteen Weeks Ended		Twenty-Six Weeks Ended
	July 30, 2023	July 31, 2022	July 30, 2023	July 31, 2022
Basic weighted average shares outstanding	43.01	48.83	45.47	48.71
Weighted average dilutive impact of awards	0.37	0.44	0.36	0.65
Diluted weighted average shares outstanding	43.38	49.27	45.83	49.36
Weighted average awards excluded as anti-dilutive	0.51	0.29	0.51	0.18

Debt - Additional Information (Detail) $ in Millions			3 Months Ended		6 Months Ended		12 Months Ended
Debt - Additional Information (Detail) $ in Millions	Jun. 30, 2023 USD ($)	Jun. 29, 2022 USD ($)	Jul. 30, 2023 USD ($)	Jul. 31, 2022 USD ($)	Jul. 30, 2023 USD ($)	Jul. 31, 2022 USD ($)	Jan. 30, 2022 USD ($)	Jun. 29, 2023 USD ($)	Jan. 29, 2023 USD ($)	Oct. 27, 2020 USD ($)
Debt Instrument [Line Items]
Weighted average interest rate on outstanding borrowings			10.30%	10.10%	10.30%	10.10%
Credit spread adjustment					0.0010
Unamortized issuance discounts			$ 52.3		$ 52.3				$ 56.7
Loss on extinguishment of debt			11.2	$ 1.5	11.2	$ 1.5
Amortization of debt issuance costs					3.0	2.6
Credit Facility \| Increase of Revolving Credit Facility
Debt Instrument [Line Items]
Amount to increase revolving credit facility			$ 400.0		$ 400.0
EBITDA multiplier to increase revolving credit facility			0.75		0.75
Credit facility—revolver
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 500.0
Line of credit facility, maximum amount outstanding during period		35.0
Letter of credit facility outstanding			$ 9.8		$ 9.8
Borrowing available			$ 490.2		$ 490.2
Credit facility—revolver \| Initial Rate \| Minimum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage					0.30%
Credit facility—revolver \| Initial Rate \| Maximum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage					0.50%
Credit facility—revolver \| SOFR Rate
Debt Instrument [Line Items]
Debt Instrument, additional credit spread adjustment					3.75%
Credit facility—revolver \| SOFR Rate \| Minimum
Debt Instrument [Line Items]
Debt Instrument, additional credit spread adjustment					3.00%
Credit facility—revolver \| SOFR Rate \| Maximum
Debt Instrument [Line Items]
Debt Instrument, additional credit spread adjustment					3.50%
Credit facility—revolver \| ABR Loans
Debt Instrument [Line Items]
Debt Instrument, additional credit spread adjustment					2.75%
Credit facility—revolver \| ABR Loans \| Minimum
Debt Instrument [Line Items]
Debt Instrument, additional credit spread adjustment					2.00%
Credit facility—revolver \| ABR Loans \| Maximum
Debt Instrument [Line Items]
Debt Instrument, additional credit spread adjustment					2.50%
Term loan
Debt Instrument [Line Items]
Senior secured credit facility		850.0
Original issue discount		42.5
Term loan \| 2023 Term B Loan
Debt Instrument [Line Items]
Senior secured credit facility	$ 900.0
Weighted average interest rate on outstanding borrowings	1.25%
Original issue discount	1.00%
Prepayment premium	0.0100
Credit spread adjustment					0.0010
Unamortized issuance discounts	$ 38.4							$ 46.9
Unamortized costs written off				8.5		8.5
Expensed new fees				2.7		2.7
Loss on extinguishment of debt				$ 11.2		$ 11.2
New issuance discount and costs								$ 9.4
Term loan \| 2023 Refinancing Term B Loan
Debt Instrument [Line Items]
Senior secured credit facility	843.6
Term loan \| 2023 Additional Term B Loan
Debt Instrument [Line Items]
Senior secured credit facility	$ 56.4
Springing Maturity Date \| Credit facility—revolver
Debt Instrument [Line Items]
Long term debt, gross		$ 100.0
Date of outstanding debt prior to maturity date		91 days
Senior Notes \| Senior secured notes
Debt Instrument [Line Items]
Senior secured credit facility										$ 550.0
Weighted average interest rate on outstanding borrowings										7.625%
Outstanding principal amount of notes							$ 110.0

Leases (Tables)

6 Months Ended

Jul. 30, 2023

Leases [Abstract]

Summary of Components of Lease Expense

The components of lease expense, including variable lease costs primarily consisting of common area maintenance charges and property taxes, are as follows:


	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	July 30, 2023		July 31, 2022		July 30, 2023		July 31, 2022
Operating lease cost	$	49.2	$	38.8	$	97.2	$	73.6
Variable lease cost	8.9		9.1		19.6		18.9
Short-term lease cost	0.9		0.3		1.6		0.4
Total	$	59.0	$	48.2	$	118.4	$	92.9

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2023	Jul. 31, 2022	Jul. 30, 2023	Jul. 31, 2022
Total revenues	$ 542.1	$ 468.4	$ 1,139.4	$ 919.5
Total cost of products	83.6	75.6	173.9	145.6
Operating payroll and benefits	127.0	113.6	257.6	207.0
Other store operating expenses	169.1	142.5	339.1	266.9
General and administrative expenses	32.2	37.7	63.6	66.0
Depreciation and amortization expenses	49.1	38.6	98.0	71.9
Pre-opening costs	4.0	3.9	8.7	6.9
Total operating costs	465.0	411.9	940.9	764.3
Operating income	77.1	56.5	198.5	155.2
Interest expense, net	32.9	17.1	63.6	28.5
Loss on debt refinancing	11.2	1.5	11.2	1.5
Income before provision for income taxes	33.0	37.9	123.7	125.2
Provision for income taxes	7.1	8.8	27.7	29.1
Net income	25.9	29.1	96.0	96.1
Unrealized foreign currency translation gain	0.1	0.0	0.1	0.0
Unrealized gain on derivatives, net of tax	0.0	1.4	0.0	2.7
Total other comprehensive gain	0.1	1.4	0.1	2.7
Total comprehensive income	$ 26.0	$ 30.5	$ 96.1	$ 98.8
Net income per share:
Basic (in dollars per share)	$ 0.60	$ 0.60	$ 2.11	$ 1.97
Diluted (in dollars per share)	$ 0.60	$ 0.59	$ 2.09	$ 1.95
Weighted average shares used in per share calculations:
Basic (in shares)	43,010	48,830	45,470	48,710
Diluted (in shares)	43,380	49,270	45,830	49,360
Entertainment revenues
Total revenues	$ 360.8	$ 311.4	$ 753.9	$ 610.6
Cost of entertainment	34.4	29.1	68.7	55.9
Food and beverage revenues
Total revenues	181.3	157.0	385.5	308.9
Cost of food and beverage	$ 49.2	$ 46.5	$ 105.2	$ 89.7

Leases

6 Months Ended

Jul. 30, 2023

Leases [Abstract]

Leases

We currently lease most of the buildings or sites for our stores, store support center, and warehouse space under facility operating leases. These leases typically have initial terms ranging from ten to twenty years and include one or more options to renew. When determining the lease term, we include option periods for which renewal is reasonably certain. Most of the leases require us to pay property taxes, insurance, and maintenance of the leased assets. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Operating leases also include certain equipment leases that have a term in excess of one year. Certain facility leases also have provisions for additional contingent rentals based on revenues.

Operating lease cost, variable lease cost and short-term lease cost related primarily to our facilities is included in “Other store operating expenses” for our operating stores, “Pre-opening costs” for our stores not yet operating, or “General and administrative expenses” for our store support center and warehouse, in the Consolidated Statements of Comprehensive Income.

The components of lease expense, including variable lease costs primarily consisting of common area maintenance charges and property taxes, are as follows:


	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	July 30, 2023		July 31, 2022		July 30, 2023		July 31, 2022
Operating lease cost	$	49.2	$	38.8	$	97.2	$	73.6
Variable lease cost	8.9		9.1		19.6		18.9
Short-term lease cost	0.9		0.3		1.6		0.4
Total	$	59.0	$	48.2	$	118.4	$	92.9

Operating lease payments in the table above includes minimum lease payments for future sites for which the leases have commenced. As of July 30, 2023, the Company had signed lease agreements with total lease payments of approximately $183.6 related to ten facility leases which had not yet commenced. Fixed minimum lease payments related to these facilities are not included in the right-of-use assets and lease liabilities on the consolidated balance sheet as of July 30, 2023.

Goodwill and Tradename Assets

6 Months Ended

Jul. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Tradename Assets

The changes in the carrying amount of goodwill and tradename assets during fiscal 2023 and fiscal 2022 are as follows:


	Goodwill		Tradename
Balance at January 30, 2022	$	272.6	$	79.0
Acquisition of Main Event (1)	471.9		99.2
Balance at January 29, 2023	$	744.5	$	178.2
Adjustments to Main Event goodwill (1)(2)	(2.0)		—

Balance at July 30, 2023	$	742.5	$	178.2

(1) See Note 2 for discussion of the Main Event acquisition.

Business Combinations - Summary of Unaudited Pro Forma Information Provides the Effect of the Acquisition of Main Event (Detail) - Main Event - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 31, 2022	Jul. 31, 2022
Business Acquisition Proforma Information [Line Items]
Revenues	$ 544.6	$ 1,120.1
Net income	$ 20.4	$ 92.7