Buffalo Wild Wings, Inc. Announces Third Quarter Earnings per Share of $1.23

MINNEAPOLIS - October 26, 2016 - (BUSINESS WIRE) - Buffalo Wild Wings, Inc. (NASDAQ: BWLD) announced today financial results for the third quarter ended September 25, 2016. Highlights for the third quarter versus the same period a year ago were:

  • Total revenue increased 8.5% to $494.2 million
  • Company-owned restaurant sales increased 9.0% to $470.6 million
  • Same-store sales decreased 1.8% at company-owned Buffalo Wild Wings® restaurants and 1.6% at franchised Buffalo Wild Wings restaurants
  • Net earnings increased 17.8% to $22.7 million from $19.2 million, and earnings per diluted share increased 23.0% to $1.23 from $1.00

Sally Smith, President and Chief Executive Officer, commented, "Our focus is to return to industry-leading same-store sales. To advance these efforts and drive traffic, in the third quarter we implemented a 15-minute guarantee for FastBreak™ lunch and Half-Price Wing Tuesdays®. Both programs are seeing initial success. To deliver value to shareholders, we increased our credit facility to $500 million in October allowing us to execute against our expanded share repurchase authorization."

Ms. Smith concluded, "As we look forward to 2017, we remain committed to continued innovation in delivering a differentiated experience in casual dining and we're identifying areas of opportunity to improve margins. Our new menu launches next week and we are excited for our new burger launch. We're continuing to implement our Blazin' Rewards™ loyalty program and we have begun third-party delivery in 90 company-owned restaurants."

Total revenue increased 8.5% to $494.2 million in the third quarter, compared to $455.5 million in the third quarter of 2015. Company-owned restaurant sales for the quarter increased 9.0% over the same period in 2015, to $470.6 million, driven by 40 additional Buffalo Wild Wings restaurants at the end of the third quarter of 2016, partially offset by a same-store sales decrease of 1.8%. Franchise royalties and fees decreased 1.0% to $23.5 million for the quarter, versus $23.8 million in the third quarter of 2015. This decrease is attributed to a same-store sales decrease of 1.6% at franchised Buffalo Wild Wings restaurants.

Average weekly sales for company-owned Buffalo Wild Wings restaurants were $59,690 for the third quarter of 2016, compared to $61,831 for the same quarter last year, a 3.5% decrease. Franchised Buffalo Wild Wings restaurants in the United States averaged $61,497 for the period, versus $62,819 in the third quarter a year ago, a 2.1% decrease.

Under the share repurchase authorization, 36,600 shares were repurchased during the third quarter of 2016 for a total of $5.9 million.

For the third quarter, net earnings increased 17.8% to $22.7 million, versus $19.2 million in the third quarter of 2015. Earnings per diluted share were $1.23, compared to third quarter 2015 earnings per diluted share of $1.00.

For 2016, the company expects the following new unit development:

  • 35 company-owned Buffalo Wild Wings restaurants in the United States
  • 30 franchised Buffalo Wild Wings locations in the United States
  • 10 franchised Buffalo Wild Wings locations internationally
  • 5 company-owned and 2 franchised R Taco® restaurants

For 2016, the company expects the following:

  • Deflationary food costs, excluding traditional chicken wings
  • Traditional chicken wings higher than forecasted due to high demand and supply disruption
  • Depreciation and amortization expense of $152 million
  • Share repurchase activity of approximately $150 million for the year
  • Earnings per diluted share slightly below the low end of the prior $5.65 to $5.85 range
  • Capital expenditures of approximately $158 million

For 2017, the company expects the following new unit development:

  • 30 - 35 company-owned Buffalo Wild Wings restaurants in the United States
  • 15 franchised Buffalo Wild Wings locations in the United States
  • 20 - 25 franchised Buffalo Wild Wings locations internationally
  • 5 company-owned and 10 franchised R Taco restaurants

Buffalo Wild Wings will be hosting a conference call today, October 26, 2016 at 4:00 p.m. Central Daylight Time to discuss these results. There will be a simultaneous webcast conducted at our investor website IR.BuffaloWildWings.com.

A replay of the call will be available until November 2, 2016. To access this replay, please dial 1-412-317-6671 password 2296003.

About Buffalo Wild Wings, Inc.

Buffalo Wild Wings, Inc., founded in 1982 and headquartered in Minneapolis, is a growing owner, operator and franchisor of Buffalo Wild Wings® restaurants featuring a variety of boldly-flavored, made-to-order menu items including its namesake Buffalo, New York-style chicken wings. The Buffalo Wild Wings menu specializes in 21 mouth-watering signature sauces and seasonings with flavor sensations ranging from Sweet BBQ™ to Blazin'®. Guests enjoy a welcoming neighborhood atmosphere that includes an extensive multi-media system for watching their favorite sporting events. Buffalo Wild Wings is the recipient of hundreds of "Best Wings" and "Best Sports Bar" awards from across the country. There are currently more than 1,200 Buffalo Wild Wings locations around the world.

To stay up-to-date on all the latest events and offers for sports fans and wing lovers, like Buffalo Wild Wings on Facebook, follow @BWWings on Twitter and visit www.BuffaloWildWings.com.

Forward-looking Statements

Various remarks we make about future expectations, plans, and prospects for the company constitute forward-looking statements for purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995. These statements relate to our future financial and restaurant performance measures and growth goals, including but not limited to those relating to our fourth quarter trends, projected unit and net earnings growth rates, and projected share repurchase activity and capital expenditures. All statements other than statements of historical fact are statements that could be deemed forward-looking statements and are based upon the current beliefs and expectations of our management. We have attempted to identify forward-looking statements by terminology, including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "goal," "intends," "may," "plans," "potential," "predicts," "should," "scheduled," or "will" or the negative of these terms or other comparable terminology. Actual results may vary materially from those contained in forward-looking statements based on a number of factors, including, but not limited to, our ability to achieve and manage our planned expansion, the ability of our franchisees to open and manage new restaurants, market acceptance in the new geographic regions we enter (particularly international locations), success of acquired restaurants, success of investments in new or emerging concepts, unforeseen obstacles in developing nontraditional sites or non-U.S. locations, our ability to obtain and maintain licenses and permits necessary to operate our existing and new restaurants, our franchisees' adherence to our system standards, the cost of commodities such as traditional chicken wings and supply chain consistency, the success of our key initiatives and our advertising and marketing campaigns, our ability to control restaurant labor and other restaurant operating costs, the continued service of key management personnel, our ability to protect our name and logo and other proprietary information, economic conditions (including changes in consumer preferences or consumer discretionary spending), the impact of federal, state or local government regulations relating to our employees, the sale of food and alcoholic beverages, the effect of competition in the restaurant industry, and other factors disclosed from time to time in our filings with the U.S. Securities and Exchange Commission, including the factors described under "Risk Factors" in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 27, 2015, as updated in subsequent reports filed with the SEC. Investors should take such risks into account when making investment decisions. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update any forward-looking statements.

BUFFALO WILD WINGS, INC. AND SUBSIDIARIES

 

CONSOLIDATED STATEMENTS OF EARNINGS

 

(Dollar and share amounts in thousands except per share data)

 

(unaudited)

 

 

 

 

 

 

 

Three months ended

 

Nine months ended

 

 

September 25,

 

September 27,

 

September 25,

 

September 27,

 

 

2016

 

2015

 

2016

 

2015

Revenue:

 

 

 

 

 

 

 

 

Restaurant sales

 

$

470,648

 

 

431,763

 

 

1,421,142

 

 

1,248,595

 

Franchise royalties and fees

 

23,519

 

 

23,763

 

 

71,460

 

 

73,904

 

Total revenue

 

494,167

 

 

455,526

 

 

1,492,602

 

 

1,322,499

 

Costs and expenses:

 

 

 

 

 

 

 

 

Restaurant operating costs:

 

 

 

 

 

 

 

 

Cost of sales

 

136,185

 

 

126,878

 

 

418,488

 

 

370,398

 

Labor

 

150,813

 

 

138,897

 

 

449,317

 

 

398,585

 

Operating

 

73,435

 

 

63,343

 

 

211,295

 

 

178,716

 

Occupancy

 

27,396

 

 

24,210

 

 

81,324

 

 

68,554

 

Depreciation and amortization

 

38,345

 

 

33,610

 

 

113,847

 

 

90,887

 

General and administrative

 

32,264

 

 

33,714

 

 

93,750

 

 

97,937

 

Preopening

 

1,490

 

 

4,777

 

 

5,191

 

 

9,251

 

Loss on asset disposals

 

1,393

 

 

1,269

 

 

4,489

 

 

4,180

 

Total costs and expenses

 

461,321

 

 

426,698

 

 

1,377,701

 

 

1,218,508

 

Income from operations

 

32,846

 

 

28,828

 

 

114,901

 

 

103,991

 

Interest and other expense

 

528

 

 

1,400

 

 

2,375

 

 

1,434

 

Earnings before income taxes

 

32,318

 

 

27,428

 

 

112,526

 

 

102,557

 

Income tax expense

 

9,814

 

 

8,261

 

 

33,799

 

 

32,973

 

Net earnings including noncontrolling interests

 

22,504

 

 

19,167

 

 

78,727

 

 

69,584

 

Net loss attributable to noncontrolling interests

 

(147

)

 

(69

)

 

(399

)

 

(214

)

Net earnings attributable to Buffalo Wild Wings

 

$

22,651

 

 

19,236

 

 

79,126

 

 

69,798

 

Earnings per common share - basic

 

$

1.24

 

 

1.01

 

 

4.25

 

 

3.67

 

Earnings per common share - diluted

 

$

1.23

 

 

1.00

 

 

4.24

 

 

3.65

 

Weighted average shares outstanding - basic

 

18,296

 

 

19,022

 

 

18,609

 

 

19,006

 

Weighted average shares outstanding - diluted

 

18,353

 

 

19,167

 

 

18,650

 

 

19,118

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The following table expresses results of operations as a percentage of total revenue for the periods presented, except for restaurant operating costs which are expressed as a percentage of restaurant sales:

 

 

Three months ended

 

Nine months ended

 

 

September 25,

 

September 27,

 

September 25,

 

September 27,

 

 

2016

 

2015

 

2016

 

2015

Revenue:

 

 

 

 

 

 

 

 

Restaurant sales

 

95.2

 %

 

94.8

 %

 

95.2

 %

 

94.4

 %

Franchise royalties and fees

 

4.8

 

 

5.2

 

 

4.8

 

 

5.6

 

Total revenue

 

100.0

 

 

100.0

 

 

100.0

 

 

100.0

 

Costs and expenses:

 

 

 

 

 

 

 

 

Restaurant operating costs:

 

 

 

 

 

 

 

 

Cost of sales

 

28.9

 

 

29.4

 

 

29.4

 

 

29.7

 

Labor

 

32.0

 

 

32.2

 

 

31.6

 

 

31.9

 

Operating

 

15.6

 

 

14.7

 

 

14.9

 

 

14.3

 

Occupancy

 

5.8

 

 

5.6

 

 

5.7

 

 

5.5

 

Depreciation and amortization

 

7.8

 

 

7.4

 

 

7.6

 

 

6.9

 

General and administrative

 

6.5

 

 

7.4

 

 

6.3

 

 

7.4

 

Preopening

 

0.3

 

 

1.0

 

 

0.3

 

 

0.7

 

Loss on asset disposals

 

0.3

 

 

0.3

 

 

0.3

 

 

0.3

 

Total costs and expenses

 

93.4

 

 

93.7

 

 

92.3

 

 

92.1

 

Income from operations

 

6.6

 

 

6.3

 

 

7.7

 

 

7.9

 

Interest and other expense

 

0.1

 

 

0.3

 

 

0.2

 

 

0.1

 

Earnings before income taxes

 

6.5

 

 

6.0

 

 

7.5

 

 

7.8

 

Income tax expense

 

2.0

 

 

1.8

 

 

2.3

 

 

2.5

 

Net earnings including noncontrolling interests

 

4.6

 

 

4.2

 

 

5.3

 

 

5.3

 

Net earnings attributable to noncontrolling interests

 

(0.0

)

 

(0.0

)

 

(0.0

)

 

(0.0

)

Net earnings attributable to Buffalo Wild Wings

 

4.6

 %

 

4.2

 %

 

5.3

 %

 

5.3

 %

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BUFFALO WILD WINGS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Dollar amounts in thousands)

(unaudited)

 

 

 

 

 

 

 

September 25,

 

December 27,

 

 

2016

 

2015

Assets

 

 

 

 

Current assets:

 

 

 

 

Cash and cash equivalents

 

$

14,758

 

 

11,220

 

Marketable securities

 

 

 

9,043

 

Accounts receivable, net of allowance of $251 and $25, respectively

 

42,707

 

 

34,087

 

Inventory

 

13,437

 

 

15,351

 

Prepaid expenses

 

7,674

 

 

6,386

 

Refundable income taxes

 

543

 

 

21,591

 

Restricted assets

 

22,240

 

 

100,073

 

Total current assets

 

101,359

 

 

197,751

 

 

 

 

 

 

Property and equipment, net

 

605,188

 

 

604,712

 

Reacquired franchise rights, net

 

122,100

 

 

129,282

 

Other assets

 

38,590

 

 

26,536

 

Goodwill

 

117,228

 

 

114,101

 

Total assets

 

$

984,465

 

 

1,072,382

 

 

 

 

 

 

Liabilities and Stockholders' Equity

 

 

 

 

Current liabilities:

 

 

 

 

Unearned franchise fees

 

$

2,621

 

 

2,144

 

Accounts payable

 

42,963

 

 

44,760

 

Accrued compensation and benefits

 

35,360

 

 

55,578

 

Accrued expenses

 

25,831

 

 

21,678

 

Current portion of long-term debt and capital lease obligations

 

7,302

 

 

2,147

 

Current portion of deferred lease credits

 

511

 

 

59

 

System-wide payables

 

59,813

 

 

137,257

 

Total current liabilities

 

174,401

 

 

263,623

 

 

 

 

 

 

Long-term liabilities:

 

 

 

 

Other liabilities

 

15,796

 

 

16,473

 

Deferred income taxes

 

24,689

 

 

23,726

 

Long-term debt and capital lease obligations, net of current portion

 

93,380

 

 

70,954

 

Deferred lease credits, net of current portion

 

44,310

 

 

41,869

 

Total liabilities

 

352,576

 

 

416,645

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

Stockholders' equity:

 

 

 

 

Undesignated stock, 1,000,000 shares authorized, none issued

 

 

 

 

Common stock, no par value. Authorized 44,000,000 shares; issued and outstanding 18,278,601 and 18,917,776 shares, respectively

 

156,872

 

 

160,353

 

Retained earnings

 

478,805

 

 

499,085

 

Accumulated other comprehensive loss

 

(3,782

)

 

(4,094

)

Total stockholders' equity

 

631,895

 

 

655,344

 

Noncontrolling interests

 

(6

)

 

393

 

Total equity

 

631,889

 

 

655,737

 

Total liabilities and equity

 

$

984,465

 

 

1,072,382

 

 

 

 

 

 

 

 

 

 

BUFFALO WILD WINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Dollar amounts in thousands)

(unaudited)

 

 

 

 

 

Nine months ended

 

 

September 25,

 

September 27,

 

 

2016

 

2015

Cash flows from operating activities:

 

 

 

 

Net earnings including noncontrolling interests

 

$

78,727

 

 

69,584

 

Adjustments to reconcile net earnings to net cash provided by operations:

 

 

 

 

Depreciation and amortization

 

113,847

 

 

90,887

 

Loss on asset disposals

 

4,489

 

 

4,180

 

Deferred lease credits

 

4,095

 

 

4,260

 

Deferred income taxes

 

962

 

 

(13,561

)

Stock-based compensation

 

2,453

 

 

11,689

 

Excess tax benefit from stock issuance

 

57

 

 

(1,088

)

Change in fair value of contingent consideration

 

(1,591

)

 

 

Loss on investments in affiliates

 

1,904

 

 

 

Change in operating assets and liabilities, net of effect of acquisitions:

 

 

 

 

Trading securities

 

 

 

(173

)

Accounts receivable

 

(5,025

)

 

(4,982

)

Inventory

 

1,954

 

 

(421

)

Prepaid expenses

 

(1,273

)

 

(868

)

Other assets

 

(4,450

)

 

74

 

Unearned franchise fees

 

477

 

 

104

 

Accounts payable

 

6,465

 

 

6,901

 

Income taxes

 

20,991

 

 

545

 

Accrued expenses

 

(10,145

)

 

(248

)

Net cash provided by operating activities

 

213,937

 

 

166,883

 

Cash flows from investing activities:

 

 

 

 

Acquisition of property and equipment

 

(117,850

)

 

(124,233

)

Acquisition of businesses

 

(3,862

)

 

(209,713

)

Purchase of marketable securities

 

(488

)

 

(12,301

)

Proceeds from marketable securities

 

1,205

 

 

23,300

 

Net cash used in investing activities

 

(120,995

)

 

(322,947

)

Cash flows from financing activities:

 

 

 

 

Proceeds from credit facility

 

464,521

 

 

197,422

 

Repayments of credit facility

 

(440,448

)

 

(150,467

)

Borrowings from restricted funds

 

1,478

 

 

31,634

 

Repurchases of common stock

 

(105,852

)

 

 

Other financing activities

 

(1,557

)

 

(580

)

Issuance of common stock

 

2,199

 

 

2,903

 

Excess tax benefit from stock issuance

 

(57

)

 

1,088

 

Tax payments for restricted stock units

 

(9,317

)

 

(7,847

)

Net cash provided by (used in) financing activities

 

(89,033

)

 

74,153

 

Effect of exchange rate changes on cash and cash equivalents

 

(371

)

 

61

 

Net increase (decrease) in cash and cash equivalents

 

3,538

 

 

(81,850

)

Cash and cash equivalents at beginning of period

 

11,220

 

 

93,329

 

Cash and cash equivalents at end of period

 

$

14,758

 

 

11,479

 

 

 

 

 

 

 

 

 

 

BUFFALO WILD WINGS, INC. AND SUBSIDIARIES

Supplemental Information

 

 

 

 

 

 

 

 

 

Restaurant Count

 

 

 

 

 

 

 

 

 

Company-owned Restaurants (includes Buffalo Wild Wings, R Taco, and Buffalo Wild Wings-owned PizzaRev locations):

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q2

 

Q3

 

Q4

2016

 

603

 

609

 

617

 

 

2015

 

501

 

517

 

573

 

596

2014

 

443

 

449

 

463

 

491

2013

 

397

 

407

 

415

 

434

2012

 

327

 

330

 

343

 

381

 

 

 

 

 

 

 

 

 

Franchised Restaurants (includes Buffalo Wild Wings and R Taco locations):

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q2

 

Q3

 

Q4

2016

 

587

 

596

 

602

 

 

2015

 

593

 

593

 

569

 

579

2014

 

569

 

579

 

588

 

591

2013

 

514

 

525

 

534

 

559

2012

 

505

 

505

 

511

 

510

 

 

 

 

 

 

 

 

 

Restaurant Count Rollforward:

 

 

Nine Months Ended

 

 

September 25, 2016

 

September 27, 2015

 

 

Corporate

 

Franchise

 

Total

 

Corporate

 

Franchise

 

Total

Buffalo Wild Wings

 

 

 

 

 

 

 

 

 

 

 

 

Beginning of period

 

590

 

573

 

1,163

 

487

 

584

 

1,071

Opened

 

19

 

25

 

44

 

29

 

37

 

66

Acquired

 

1

 

(1)

 

 

54

 

(54)

 

Closed/Relocated

 

(2)

 

(2)

 

(4)

 

(2)

 

(4)

 

(6)

End of period

 

608

 

595

 

1,203

 

568

 

563

 

1,131

R Taco

 

 

 

 

 

 

 

 

 

 

 

 

Beginning of period

 

4

 

6

 

10

 

2

 

7

 

9

Opened

 

3

 

1

 

4

 

 

 

Acquired

 

 

 

 

1

 

(1)

 

Closed/Relocated

 

 

 

 

 

 

End of period

 

7

 

7

 

14

 

3

 

6

 

9

PizzaRev

 

 

 

 

 

 

 

 

 

 

 

 

Beginning of period

 

2

 

n/a

 

2

 

2

 

n/a

 

2

Opened

 

 

n/a

 

 

 

n/a

 

Acquired

 

 

n/a

 

 

 

n/a

 

Closed/Relocated

 

 

n/a

 

 

 

n/a

 

End of period

 

2

 

n/a

 

2

 

2

 

n/a

 

2

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

End of the period

 

617

 

602

 

1,219

 

573

 

569

 

1,142

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BUFFALO WILD WINGS, INC. AND SUBSIDIARIES

Supplemental Information

 

 

 

 

 

 

 

 

 

 

 

Same-Store Sales at Buffalo Wild Wings in United States and Canada

 

 

 

 

 

 

 

 

 

 

 

Company-owned Restaurants:

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Year

2016

 

(1.7%)

 

(2.1%)

 

(1.8%)

 

 

 

 

2015

 

7.0%

 

4.2%

 

3.9%

 

1.9%

 

4.2%

2014

 

6.6%

 

7.7%

 

6.0%

 

5.9%

 

6.5%

2013

 

1.4%

 

3.8%

 

4.8%

 

5.2%

 

3.9%

2012

 

9.2%

 

5.3%

 

6.2%

 

5.8%

 

6.6%

 

 

 

 

 

 

 

 

 

 

 

Franchised Restaurants:

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Year

2016

 

(2.4%)

 

(2.6%)

 

(1.6%)

 

 

 

 

2015

 

6.0%

 

2.5%

 

1.2%

 

0.1%

 

2.5%

2014

 

5.0%

 

6.5%

 

5.7%

 

5.1%

 

5.6%

2013

 

2.2%

 

4.1%

 

3.9%

 

3.1%

 

3.3%

2012

 

7.3%

 

5.5%

 

5.8%

 

7.4%

 

6.5%

 

 

 

 

 

 

 

 

 

 

 

Average Weekly Sales Volumes at Buffalo Wild Wings locations in United States and Canada

 

 

 

 

 

 

 

 

 

 

 

Company-owned Restaurants:

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Year

2016

$

62,829

 

59,894

 

59,690

 

 

 

 

2015

 

64,851

 

61,960

 

61,831

 

61,971

 

62,529

2014

 

60,966

 

59,403

 

59,643

 

62,119

 

60,470

2013

 

56,953

 

54,759

 

55,592

 

58,204

 

56,392

2012

 

55,131

 

51,524

 

52,561

 

55,595

 

53,783

 

 

 

 

 

 

 

 

 

 

 

Franchised Restaurants:

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Year

2016

$

65,636

 

62,454

 

61,497

 

 

 

 

2015

 

67,075

 

63,904

 

62,819

 

64,032

 

64,474

2014

 

63,852

 

61,845

 

61,586

 

63,949

 

62,595

2013

 

60,050

 

58,186

 

58,926

 

61,167

 

59,594

2012

 

57,282

 

54,766

 

55,608

 

58,490

 

56,570

Restaurant-Level Profit and Restaurant-Level Margin

Restaurant-level profit and restaurant-level margin are neither required by, nor presented in accordance with U.S. GAAP and are non-GAAP financial measures. Restaurant-level profit is defined restaurant sales less restaurant operating costs (cost of sales, labor, operating, and occupancy expense). Restaurant-level margin is defined as restaurant-level profit as a percentage of restaurant sales. Restaurant-level profit and restaurant-level margin have limitations as analytical tools, and should not be evaluated in isolation or as substitutes for analysis of results as reported under U.S. GAAP. Management believes the restaurant-level profit and restaurant-level margin are important tools for investors because they are widely-used metrics within the restaurant industry to evaluate restaurant-level productivity, efficiency and performance. Management uses restaurant-level profit and restaurant-level margin as key performance indicators to evaluate the profitability of company-owned restaurants.

A reconciliation of restaurant sales to restaurant-level margin is provided below:

 

 

Three months ended

 

Nine months ended

 

 

September 25,

 

September 27,

 

September 25,

 

September 27,

 

 

2016

 

2015

 

2016

 

2015

Restaurant sales

 

$

470,648

 

 

431,763

 

 

1,421,142

 

 

1,248,595

 

Restaurant operating costs

 

387,829

 

 

353,328

 

 

1,160,424

 

 

1,016,253

 

Restaurant-level profit

 

$

82,819

 

 

78,435

 

 

260,718

 

 

232,342

 

Restaurant-level margin

 

17.6

%

 

18.2

%

 

18.3

%

 

18.6

%

SOURCE Buffalo Wild Wings, Inc

Contact:

Heather Pribyl
Buffalo Wild Wings, Inc.
Investor Relations
952-540-2095

###

Social Reach:

Viewer Response:

comments powered by Disqus

Buffalo Wild Wings »

Buffalo Wild Wings® restaurants features a variety of boldly-flavored, made-to-order menu items including its namesake Buffalo, New York-style chicken wings.

Browse:

  1. Business Overview
  2. Franchise News

Franchise News Room »


News By Industry »


Hot Opportunities

AAMCO Transmissions and Total Car Care Franchise Opportunity

AAMCO Transmissions and Total Car Care
AAMCO franchisees benefit from joining a brand that has been in business...

Add
Hungry Howie's Pizza Franchise Opportunity

Hungry Howie's Pizza
Hungry Howie's is currently EXPANDING! Top Markets are available for...

Add
Kids 'R' Kids Franchise Opportunity

Kids 'R' Kids
Kids 'R' Kids Learning Academies is a pioneer in the early childhood...

Add
Moe's Southwest Grill Franchise Opportunity

Moe's Southwest Grill
At Moe's we're all about celebrating originality. Our guests become food...

Add
Blue Coast Burrito Franchise Opportunity

Blue Coast Burrito
Bring a healthy alternative to traditional fast food to your location with...

Add
El Pollo Loco Franchise Opportunity

El Pollo Loco
The secret to El Pollo Loco is great-tasting food. Our menu has a broad...

Add
Earl of Sandwich Franchise Opportunity

Earl of Sandwich
Earl of Sandwich is a café franchise that was founded in 1762 by John...

Add
Big O Tires, LLC Franchise Opportunity

Big O Tires, LLC
With more than 50 years in the tire and automotive maintenance industry,...

Add
A Franchise Update Media Group Production
Franchise Update Media | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2016. All Rights Reserved. Site Hosting Provided By: wishVPS on FUMG3

In Loving Memory Of Timothy Gardner (1987-2014)