Buffalo Wild Wings revenues soar in Q2
July 28, 2009
by Bryan Salvage
MINNEAPOLIS — Buffalo Wild Wings Inc.’s net earnings for the second quarter ended June 28, increased 24.2% to $7.0 million from $5.6 million, and earnings per diluted share increased 25.8% to $0.39 from $0.31. Total revenue increased 32.4% to $129.6 million
Company-owned restaurant sales increased 34.6% to $117.8 million. Same-store sales increased 2.8% at company-owned restaurants and 3.7% at franchised restaurants.
"We’re very pleased with our ongoing success and the strong second quarter results," said Sally Smith, president and chief executive. "Our revenue growth of 32.4% produced impressive net earnings growth of 24.2% over the same period in the prior year, achieving earnings per diluted share of $0.39.
"We’re heading into our favorite time of the year — football season!" Ms. Smith said. "We’re investing in our brand with enhanced facilities, craveable new products and expanded national media campaigns."
Ms. Smith said the company continues on pace to meet each of its 2009 annual goals.
"Since going public nearly six years ago, you’ve heard us speak about our goal of becoming a restaurant chain of 1,000 units in the U.S., which we believe we will achieve in 2013," she added. "We continue expansion into all 50 states, which will include small towns and urban markets, and development of nontraditional sites such as airports. With the groundwork underway for international development, this 1,000-unit goal is a stepping stone on our way to becoming a global brand."