Pinstripes reports Q2 EPS (22c) vs (64c) last year

Reports Q2 revenue $26.5M, consensus $30.59M. Same store sales decreased 9.4% over the prior year period.Dale Schwartz, Founder and CEO, stated, “We continue to make significant progress on rationalizing our cost structure by removing an annualized $15 million at the store and corporate level, and we have also initiated several local-store marketing campaigns that are driving awareness and sales at all venues. We believe these combined actions further position our brand for improved profitability as the macro environment improves. We are also excited about our most recent store opening in Walnut Creek, and continue our new location development efforts.”