MINNEAPOLIS – Buffalo Wild Wings, Inc. announced positive financial results for its fourth quarter ended Dec. 25, 2011. The restaurant chain's 4Q total revenue increased 34.5 percent to $220.5 million compared to $163.9 million in the fourth quarter of 2010. In addition, company-owned restaurant sales grew 36.4 percent to $202.9 million and same-store sales increased 8.9 percent at company-owned restaurants and 5.9 percent at franchised restaurants.
Net earnings increased 34.0 percent to $13.6 million from $10.2 million, and earnings per diluted share increased 32.7 percent to $0.73 from $0.55
Sally Smith, president and chief executive officer, commented, “Our strong fourth quarter performance capped a tremendous year for Buffalo Wild Wings, which reflects the focused efforts and hard work of our franchisees and team members in providing sports fans with an outstanding guest experience. Together, we accomplished category-leading results.
“Fourth quarter same-store sales grew by 8.9 percent at company-owned and 5.9 percent at franchised locations, helping us surpass $2 billion in system-wide sales for 2011. Strong sales at both new and existing restaurants drove fourth quarter earnings per share of $0.73, bringing our annual net earnings growth to over 31 percent.”
Total revenue increased 34.5 percent to $220.5 million in the fourth quarter compared to $163.9 million in the fourth quarter of 2010.
Average weekly sales for company-owned restaurants were $51,983 for the fourth quarter of 2011 compared to $45,595 for the same quarter last year, a 14.0 percent increase. Franchised restaurants averaged $53,385 for the period versus $49,837 in the fourth quarter a year ago, a 7.1 percent increase.
Smith remarked, "The first quarter is an exciting time for guests at Buffalo Wild Wings. We are off to a great start with strong sales momentum, and our same-store sales through the first six weeks of 2012 have increased 12.9 percent at company-owned and 10.8 percent at franchised restaurants. We’ll debut our new TV and radio spots, and our multi-layered marketing and advertising program will have an increased presence in first quarter and throughout the year. Our restaurant teams are focused on driving sales and are ready to welcome basketball fans. In addition, we’ll begin a phased roll-out of online ordering."
Buffalo Wild Wings, Inc., founded in 1982 and headquartered in Minneapolis, is a growing owner, operator and franchisor of Buffalo Wild Wings Grill & Bar restaurants. There are currently 827 Buffalo Wild Wings locations across 47 states in the United States, as well as in Canada.
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