Buffalo Wild Wings Q1 net earnings, sales up
April 27, 2011
by Bryan Salvage
MINNEAPOLIS – Buffalo Wild Wings Inc. announced for the first quarter ended March 27 net earnings increased 40.7 percent to $14.9 million from $10.6 million in the first quarter of 2010, and earnings per diluted share increased 39.7 percent to $0.81 from $0.58 Total revenue increased 19.6 percent to $182.2 million compared to $152.3 million in the first quarter of 2010.
Company-owned restaurant sales increased 20.0 percent to $165.5 million while same-store sales increased 3.9 percent at company-owned restaurants and 1.6 percent at franchised restaurants.
“As we look to the remainder of the year, we are moving forward with exciting marketing plans and promotions for the upcoming football season,” said Sally Smith, president and CEO. “A disruption to the regular National Football League season has the potential to present a temporary challenge for our business and many others. Assuming continued strong same-store sales and low wing costs, we believe we can achieve our annual net earnings goal of more than 18 percent growth even if there is an abbreviated NFL season.”
There are currently 753 Buffalo Wild Wings locations in 45 states.