Jim Cramer -- 'Impressive' Dave & Buster's Earnings, Secondary Offering

NEW YORK (TheStreet) -- Shares of Dave & Buster's Entertainment (PLAY) are up 1.2% despite beating on earnings per share and revenue expectations. 

The company reported strong traffic and a 9.9% increase in comparable-store sales growth, TheStreet's Jim Cramer, co-portfolio manager of the Action Alerts PLUS portfolio, pointed out on CNBC's "Mad Dash" segment. 

This quarter "was impressive," he said.

PLAY Chart
Dave & Buster's Entertainment PLAY data by YCharts

He added that Dave & Buster's priced an 8.5 million share secondary offering at $31 at the end of last month. Now trading near $34, investors who got in on the deal have made nearly a 10% return in a relatively short period of time. 

This is important, Cramer insisted, because too many investors feel nothing is working in the stock market at the moment when indeed there are stocks and investments that are doing well. 

Cramer also noted that Dave & Buster's has opted to close some of its profitable locations because they have so many locations that are even more profitable nearby. 

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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