News

Buffalo Wild Wings net grows 16.4%

July 27, 2011

Buffalo Wild Wings Inc. has announced financial results for its second quarter ended June 26, 2011.

Same-store sales increased 5.9 percent at company-owned restaurants and 2.7 percent at franchised restaurants.Total revenue increased 26.4 percent to $184.1 million, up from $145.7 million in the second quarter of 2010.

Company-owned restaurant sales for the quarter increased 27.6 percent to $167.9 million for the quarter, driven by same-store sales increases and 43 additional company-owned restaurants in the system at the end of second quarter.

Average weekly sales for company-owned restaurants increased 11.5 percent to $47,970 compared to $43,021 for the same quarter in 2010. Franchised restaurants averaged $50,995 for the period versus $49,051 in the second quarter a year ago.

For the second quarter, net earnings increased 16.4 percent to $10.7 million compared to $9.2 million in the second quarter of 2010.

2011 Outlook

“Same-store sales remain impressive with an increase of 4.9% at company-owned and 3.0% at franchised locations to date in the third quarter,” said BWW CEO Sally Smith. “We join with our guests in anticipation of the upcoming football season and Tablegating at Buffalo Wild Wings. Our restaurant teams are gearing up to deliver the great game day experience we’re known for. We’ll have an increased media presence throughout the third and fourth quarters and we have marketing and operations plans in place to engage our passionate Buffalo Wild Wings fans.”

In the second half of 2011, the company expects to open 29 company-owned restaurants in the United States and three in Canada. Franchisees should open about 37 locations, attaining the company’s 13 percent unit-growth goal for the year.

The company also opened its first international location in the second quarter in Canada.

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