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Buffalo Wild Wings' 3Q net jumps 32.5%

Third-quarter gains attributed to unit and same-store sales growth

Buffalo Wild Wings Inc.’s net income surged 32.5 percent in the third quarter, the company reported Wednesday.

The Minneapolis-based company attributed the gains to same-store sales increases and unit count growth.

For the quarter ended Sept. 25, Buffalo Wild Wings’ net income was $11.3 million, or 61 cents per share, compared with $8.5 million, or 47 cents per share, a year earlier.

Total revenue increased 30.7 percent to $197.8 million from the previous year.

Company-owned restaurant sales rose 32.2 percent to $181 million, reflecting a 5.7-percent gain in company-owned same-store sales, and the addition of 44 company-owned restaurants at the end of the third quarter, compared with the prior year.

Franchise revenue increased 16.2 percent to $16.7 million. Same-store sales at franchised units rose 4.2-percent, and 41 additional franchised locations opened, compared with the previous year.

Chief executive Sally Smith said the positive sales momentum had continued into the first three weeks of the fourth quarter, with same-store sales up 8.3 percent at company-owned restaurants and 6.7 percent at franchised units.

“Football fans are filling our restaurants, and our fourth-quarter marketing plans are stronger than ever,” Smith said. “We will reach our goal of 13-percent unit growth for the year, and we are confident that net earnings growth will be at least 23 percent for 2011.”

Buffalo Wild Wings Inc. has 795 locations in 45 states and Canada.

Contact Mark Brandau at [email protected].
Follow him on Twitter: @Mark_from_NRN

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