MINNEAPOLIS — Buffalo Wild Wings Inc. has announced financial results for the first quarter ended March 30, 2008.
For the quarter, comparable-store sales increased 4.1 percent at company-owned restaurants and 2.1 percent at franchised locations.
Total revenue grew 21.7 percent, up to $97.3 million for the quarter compared to $79.9 million reported in the first quarter of 2007.
Company-owned restaurant sales for the quarter increased 22.3 percent to $86.9 million, driven by a company-owned same-store sales increase of 4.1 percent and 25 more company-owned restaurants in operation at the end of first quarter 2008 relative to the same period in 2007.
The company's net income was reported at $6.5 million for the quarter, compared with net income of $5.5 million for the same period last year.
"We are very pleased with the sustained strength of our same-store sales, and we are intensely focused on driving guests to Buffalo Wild Wings and delivering a great experience. Five new company-owned and 10 franchised locations are expected to open in the second quarter, ahead of our development pace of 2007 and on track to achieve our annual 15 percent unit growth target," said Sally Smith, president and chief executive officer.
Buffalo Wild Wings will host a conference call today at 4 p.m. CDT to discuss these results. There will be a simultaneous webcast conducted at their Web site. A replay of the call will be available until May 6, 2008. To access this replay, please dial 303.590.3030, password 3870677.
