Michael Quartieri: Okay. So first part of your question, what’s left to do. I’ll kind of walk you through what’s been done and where we’re headed. So immediate actions that were taken at the end of Q2 were really around the head count where we got rid of the duplicative nature of you don’t need two chief financial officers. You don’t need two CEOs and the like. So those decisions were made quickly and implemented swiftly. The next phase that you’re seeing right now, which gave us the confidence to up the ante from $20 million to $25 million is really around our supply chain, where we’ve been able to combine the purchasing power of both brands, renegotiate contracts. That work is now done, and we’re now entering the next phase of that component, which is around taking certain contracts out to bid.
And so that RFP process takes a little bit longer, much more demanding on the procurement team rather than just looking at contracts, consolidating and eliminating the one that’s least favorable for us. The next phase, which I call the more longer toll — tempt full is really around more systems related and more foundational structural items that we need to make changes to. Consolidating, whether it’s the POS system, back-office accounting systems, HR systems, combining 401(k) plans. It’s that type of work that’s in process. And that’s the long lease time that takes the 18 to 24 months that we quoted previously when we started this process. As far as what we think we’re going to experience or see come through, I think, it’s at least like directionally about $6 million coming through in that period.
A lot of that is what we’re seeing in our food and beverage costing, which is helping to offset a lot of the inflationary factors that we’ve seen before.
Andrew Strelzik: Okay. Perfect. Extremely helpful. And if I could just squeeze one last quick one in here. You gave the update on 4Q openings. Is there any change in the way you’re thinking about the 23 store openings, or I just didn’t hear an update to that. Thanks.
Michael Quartieri: No, not at this time. We are very mindful of the timing as it relates to any supply chain issues, getting governmental approvals at the local level for permitting and things, to that effect. So the 15 to 17 that we’ve talked about earlier in the last quarter is still in place, but we’ll be providing more details and updates when we get to our Investor Day coming up in the April time frame.
Andrew Strelzik: Great. Thank you very much.
Michael Quartieri: You’re welcome.
Chris Morris : Thank you.
Operator: The next question will come from Brian Vaccaro with Raymond James. Please go ahead.
Brian Vaccaro: Hi. Thanks and good evening. I just wanted to circle back to the comps and some of the combined versus brand trends. I mean the two brands have obviously been generating very different levels of AUVs versus 2019. And I think it’s important to try to maintain at least a little perspective, at least in the near term on how the two businesses are trending, because one was up 30% and 40% and one was up, say, 10%, what have you on the D&B side. So I guess, just in the spirit of reducing the risk of any confusion, could you provide any breakdown between the quarter-to-date comp, D&B and Main Event and maybe give us some perspective on average weekly sales, understanding their special events moving around, but just to try to keep us all on the same page, given the moving pieces here.
Michael Quartieri: Yes. Look, I’ll give it to you the best that I can. So if you’re looking at the quarter-to-date from an average weekly sales perspective. And again, we’re working with both brands. It’s about 183,000 that is comparable to what we’ve seen previously. It’s the same kind of basic 184,000 that you saw in Q3. So the weekly average of what we’re seeing is fairly consistent with that level of, call it, differentiation or split between the main event in the Dave & Buster’s brand that you saw back in Q3 that we showed in the detail to help everybody get their arms around what Main Event is and to help you guys with your modeling perspective. Now if you — I’ll add on to, if you’re looking at the consolidated average weekly sales for 2021 for both brands, on a consolidated basis, that would be about 177,000.
And if you’re looking back to 2019, that number is about 171,000. So there is meaningful growth in the quarter during that period, just the different brands are, I would say, sticking in line with the trajectories that we saw previously.
Brian Vaccaro: Okay. Perhaps you’d be willing that maybe, okay, we’ll stay to the combined. So versus 2019, Europe, I think you said 17.5% on a combined three-year comp in the third — in this quarter you just reported, and that’s slow to say, maybe in the 12 now if you make the Special Events adjustment. Has the — so you’ve moderated, let’s say, underlying by, call it, 500 basis points. I don’t know if you’d agree with that high level, but around 500 bps on a — versus 2019. Is one brand decelerating more than the other? Can you provide any qualitative perspective on Main Event versus D&B that three-year trend, one versus the other?
Chris Morris : Yes. So there’s no noticeable difference between the trends. This is — what you’re seeing is just last quarter, we provided the details for Main Event to aid investors and analysts in the modeling since Main Event was not public before. Now rolling into the Dave & Buster’s, we thought it was necessary to provide that detail, so you could adjust. And then going forward, I appreciate where you’re coming from, one in more detail. But going forward, this is the disclosures that we’ve elected to pursue — and it’s reflective of how as Q said, or as I said, it’s reflective of how we’re managing the business. Main Event is 20% of our business. We don’t want to get into providing granular data — we don’t provide that across any different regions.
And we’re focused on managing the entire enterprise, and this is how we’re looking at the business, and this is how we want to communicate the business. To the extent that there ever is a material shift between the two brands, and it’s — and we deem that it’s necessary to talk about that, then we will do so. just as we have done in the past. So, the trends heading into five weeks for Q4, proportionately between the two brands as comparable to where we’ve been this just — but this is the disclosure that we’re going with going forward.
