MINNEAPOLIS Buffalo Wild Wings Inc. was able to post a 50-percent jump in third-quarter profit on a revenue gain of 25 percent, as new restaurant openings and a dip in costs and expenses helped the casual-dining company’s performance.
For the quarter ended Sept. 27, Buffalo Wild Wings earned $6.9 million, or 38 cents per share, compared with earnings of $4.6 million, or 25 cents per share, in the same quarter a year earlier.
Corporate revenue for the operator of 220 restaurants and franchisor to 400 locations totaled $132.7 million. Since last year, 33 corporate restaurants and 52 franchised locations have been opened, the company noted.
As a percentage of revenue, Buffalo Wild Wings’ total costs and expenses totaled 92.7 percent, down from 94 percent in the same quarter a year ago, helped by reductions in pre-opening expenses as well as operating costs.
Same-store sales at corporate locations increased 0.8 percent, which is the lowest result for the chain in at least five years. The third-quarter result was up against a same-store sales increase of 6.8 percent a year ago, however, and 8.3 percent in the prior year. Franchised same-store sales increased 1.9 percent for the latest quarter, the company reported.
Buffalo Wild Wings said the current football season — typically a strong time for the wings-and-sports-centered brand — was off to a good start and would help provide “a strong finish to the year” when it comes to same-store sales results.
Contact Sarah E. Lockyer at [email protected].
