Buffalo Wild Wings Inc.
Buffalo Wild Wings Inc. has announced financial results for the fourth quarter ended December 26, 2010.
Total revenue increased 13.1 percent to $163.9 million in the fourth quarter compared to $145.0 million in the fourth quarter of 2009.
Company-owned restaurant sales for the quarter increased 13.3 percent over the same period in 2009, to $148.7 million. The increase is mainly the result of 27 additional company-owned restaurants at the end of fourth quarter 2010 relative to the same period in 2009.
Same-store sales at company-owned locations for the fourth quarter decreased 0.3 percent.
Average weekly sales for company-owned restaurants were $45,595 for the fourth quarter of 2010 compared to $44,583 for the same quarter last year. Franchised restaurants averaged $49,837 for the period versus $50,115 in the fourth quarter a year ago, a 0.6 percent decrease.
For the fourth quarter, net earnings increased 22.0 percent to $10.2 million versus $8.3 million in the fourth quarter of 2009. Earnings per diluted share were $0.55, as compared to fourth quarter 2009 earnings per diluted share of $0.46.
2011
So far this year, same-store sales at company-owned restaurants have increased 3.8 percent and 1.5 percent for franchise locations.
“As sports fans turn their focus to basketball, we’ll increase our media presence with attention-getting programming that supports our Home Court Advantage campaign. In our restaurants, our Team Members are dedicated to delivering an exceptional ‘courtside’ experience to our guests,” said Sally Smith, president and CEO.
The company also has plans to open 100 new locations in the United States and its first unit in Canada.
“With our strategic emphasis on the core elements that have built our success: wings, beer, and sports, and our proven track record of results, we are confident in our ability to achieve our net earnings goal of over 18 percent growth for 2011,” Smith said.
