Buffalo Wild Wings, Inc. Announces Fourth Quarter Earnings per Share of $1.32

2016 Earnings Per Diluted Share Outlook of $5.95 to $6.20 

MINNEAPOLIS - February 3, 2016 - (BUSINESS WIRE) - Buffalo Wild Wings, Inc. (NASDAQ: BWLD) announced today financial results for the fourth quarter and fiscal year ended December 27, 2015. Highlights for the fourth quarter, versus the same period a year ago, were:

  • Total revenue increased 19.9% to $490.2 million
  • Company-owned restaurant sales increased 21.3% to $466.4 million
  • Same-store sales grew 1.9% at company-owned restaurants and 0.1% at franchised restaurants
  • Net earnings increased 24.4% to $25.3 million from $20.3 million, and earnings per diluted share increased 23.4% to $1.32 from $1.07

Sally Smith, President and Chief Executive Officer, commented, "Our 2015 same-store sales increased 4.2% at company-owned restaurants and 2.5% at franchised locations. Same-store sales growth in the fourth quarter of 1.9% at company-owned restaurants and 0.1% at franchised locations did not meet our expectations, although they continued to outpace the casual dining industry. We estimate the holiday shifts for Halloween and Christmas negatively impacted fourth quarter same-store sales by 30 basis points. Our restaurant sales increase of 21.3% in the fourth quarter was driven by 105 additional company-owned restaurants this year."

Ms. Smith continued, "Net earnings increased 24.4% during the fourth quarter primarily from increased revenue and leveraging food and labor costs as a percentage of restaurant sales. Depreciation and amortization as a percentage of total revenue increased compared to the prior year as a result of our new restaurant development and franchise acquisitions. We also recorded $3.3 million in pre-tax loss on asset disposals and impairments during the quarter. These non-cash charges tempered our net earnings growth for the year."

Total revenue increased 19.9% to $490.2 million in the fourth quarter, compared to $408.9 million in the fourth quarter of 2014. Company-owned restaurant sales for the quarter increased 21.3% over the same period in 2014, to $466.4 million, driven by a same-store sales increase at company-owned Buffalo Wild Wings restaurants of 1.9% and 103 additional company-owned Buffalo Wild Wings restaurants at the end of the fourth quarter of 2015 relative to the same period in 2014.

Franchise royalties and fees decreased (2.9)% to $23.8 million for the quarter, versus $24.5 million in the fourth quarter of 2014, driven by a decrease of 11 franchised locations at the end of the fourth quarter of 2015 relative to the same period in 2014.

Average weekly sales for company-owned Buffalo Wild Wings restaurants were $61,971 for the fourth quarter of 2015 compared to $62,119 for the same quarter last year, a 0.2% decrease. Franchised Buffalo Wild Wings locations in the United States averaged $64,032 for the period versus $63,949 in the fourth quarter a year ago, a 0.1% increase.

We recorded a $3.3 million loss on asset disposal and impairments in the quarter which included the impairment for one company-owned Buffalo Wild Wings and two company-owned PizzaRev restaurants, and writedowns for experimental technology.

Under the $200 million share repurchase authorization, announced in November 2015, 155,623 shares were repurchased during the fourth quarter of 2015 for a total of $25 million.

For the fourth quarter, net earnings increased 24.4% to $25.3 million, versus $20.3 million in the fourth quarter of 2014. Earnings per diluted share were $1.32, compared to fourth quarter 2014 earnings per diluted share of $1.07.

For the fiscal year 2015, net earnings increased 1.0% to $95.1 million, versus $94.1 million in the fiscal year of 2014. Earnings per diluted share were $4.97, compared to fiscal year 2014 earnings per diluted share of $4.95.

2016 Outlook

Ms. Smith remarked, "Same-store sales increased 0.3% at company-owned restaurants and decreased 1.5% at franchised locations for the first four weeks of the first quarter of 2016, compared to increases of 12.7% and 12.4%, respectively, for the same period last year. We're currently running a new national TV commercial and are looking forward to a fully-integrated campaign for college basketball. Our restaurants continue their commitment to operational excellence and are focused on the beer experience, lunch, and takeout as sales-driving initiatives for 2016."

Ms. Smith concluded, "The Buffalo Wild Wings brand is strong and vibrant and we continue to invest to drive sales and deliver earnings growth for our shareholders. With our ongoing unit growth and operational diligence, our earnings per share goal for 2016 is $5.95 to $6.20, representing 20% to 25% growth over fiscal 2015."

  • For 2016, the company expects the following new unit development:
  • 45 to 50 company-owned Buffalo Wild Wings restaurants
  • 30 to 35 franchised Buffalo Wild Wings locations in the United States
  • 12 to 15 franchised Buffalo Wild Wing locations internationally
  • 6 company-owned and 4 franchised R Taco restaurants
  • Continued unit expansion by PizzaRev

For 2016, the company expects the following:

  • Single-digit same-store sales growth, including modestly positive traffic
  • Deflationary food costs, excluding traditional chicken wings
  • Depreciation and amortization expense of $155 to $160 million
  • Share repurchases of approximately $100 million
  • Earnings per diluted share of $5.95 to $6.20
  • Capital expenditures of approximately $200 million, excluding franchise acquisitions and emerging brand investments

We will discontinue disclosing quarter-to-date same-store sales trends after this quarter as a four-week trend is not predictive of quarterly same-store sales.

Buffalo Wild Wings will be hosting a conference call today, February 3, 2016 at 4:00 p.m. Central Standard 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 February 10, 2016. To access this replay, please dial 1.858.384.5517 password 2094542.

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 1,170 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

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on current expectations or beliefs and can be identified by the use of terminology such as "continue," "could," "estimate," "expect," "goal," "may," "ongoing," "plan," "predict," "project," "should," "will," and similar words or expressions. Forward-looking statements in this press release include those relating to our future financial and restaurant performance measures, including but not limited to those relating to sales trends and projected unit and earnings growth, our growth strategy, planned sales efforts, unit development and expansion, share repurchase activity and cash requirements. 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 non-U.S. 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, our capital allocation plans, 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 28, 2014, as updated by subsequent reports filed with the SEC. Investors should take such risks into account when making investment decisions. You 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 statement.

BUFFALO WILD WINGS, INC. AND SUBSIDIARIES

 

 

 

 

 

 

 

CONSOLIDATED STATEMENTS OF EARNINGS

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

(unaudited)

 

 

 

 

 

 

 

 

 

Three months ended

 

Twelve months ended

 

 

December 27,

 

December 28,

 

December 27,

 

December 28,

 

 

2015

 

2014

 

2015

 

2014

Revenue:

 

 

 

 

 

 

 

 

 

 

Restaurant sales

 

466,405

 

 

384,380

 

 

1,715,000

 

 

1,422,990

 

Franchise royalties and fees

 

23,818

 

 

24,536

 

 

97,722

 

 

93,233

 

Total revenue

 

490,223

 

 

408,916

 

 

1,812,722

 

 

1,516,223

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

Restaurant operating costs:

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

137,414

 

 

117,680

 

 

507,812

 

 

413,890

 

Labor

 

144,262

 

 

119,569

 

 

542,847

 

 

444,232

 

Operating

 

72,039

 

 

58,164

 

 

250,755

 

 

209,583

 

Occupancy

 

26,015

 

 

20,883

 

 

94,569

 

 

78,931

 

Depreciation and amortization

 

36,616

 

 

27,100

 

 

127,503

 

 

98,454

 

General and administrative

 

31,196

 

 

31,875

 

 

129,133

 

 

118,038

 

Preopening

 

4,903

 

 

5,175

 

 

14,154

 

 

13,544

 

Loss on asset disposals and impairment

 

3,282

 

 

458

 

 

7,462

 

 

3,827

 

Total costs and expenses

 

455,727

 

 

380,904

 

 

1,674,235

 

 

1,380,499

 

Income from operations

 

34,496

 

 

28,012

 

 

138,487

 

 

135,724

 

Interest and other income (expense)

 

(912

)

 

(189

)

 

(2,346

)

 

(317

)

Earnings before income taxes

 

33,584

 

 

27,823

 

 

136,141

 

 

135,407

 

Income tax expense

 

8,292

 

 

7,540

 

 

41,265

 

 

41,352

 

Net earnings including noncontrolling interests

 

25,292

 

 

20,283

 

 

94,876

 

 

94,055

 

Net income (loss) attributable to noncontrolling interests

 

21

 

 

(39

)

 

(193

)

 

(39

)

Net earnings attributable to Buffalo Wild Wings

 

25,271

 

 

20,322

 

 

95,069

 

 

94,094

 

Earnings per common share - basic

 

$

1.33

 

 

1.07

 

 

5.00

 

 

4.98

 

Earnings per common share - diluted

 

$

1.32

 

 

1.07

 

 

4.97

 

 

4.95

 

Weighted average shares outstanding - basic

 

19,036

 

 

18,931

 

 

19,013

 

 

18,908

 

Weighted average shares outstanding - diluted

 

19,173

 

 

19,051

 

 

19,131

 

 

19,002

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

Twelve months ended

 

 

December 27,

 

December 28,

 

December 27,

 

December 28,

 

 

2015

 

2014

 

2015

 

2014

Revenue:

 

 

 

 

 

 

 

 

Restaurant sales

 

95.1

%

 

94.0

%

 

94.6

%

 

93.9

%

Franchise royalties and fees

 

4.9

 

 

6.0

 

 

5.4

 

 

6.1

 

Total revenue

 

100.0

 

 

100.0

 

 

100.0

 

 

100.0

 

Costs and expenses:

 

 

 

 

 

 

 

 

Restaurant operating costs:

 

 

 

 

 

 

 

 

Cost of sales

 

29.5

 

 

30.6

 

 

29.6

 

 

29.1

 

Labor

 

30.9

 

 

31.1

 

 

31.7

 

 

31.2

 

Operating

 

15.4

 

 

15.1

 

 

14.6

 

 

14.7

 

Occupancy

 

5.6

 

 

5.4

 

 

5.5

 

 

5.5

 

Depreciation and amortization

 

7.5

 

 

6.6

 

 

7.0

 

 

6.5

 

General and administrative

 

6.4

 

 

7.8

 

 

7.1

 

 

7.8

 

Preopening

 

1.0

 

 

1.3

 

 

0.8

 

 

0.9

 

Loss on asset disposals and impairment

 

0.7

 

 

0.1

 

 

0.4

 

 

0.3

 

Total costs and expenses

 

93.0

 

 

93.1

 

 

92.4

 

 

91.0

 

Income from operations

 

7.0

 

 

6.9

 

 

7.6

 

 

9.0

 

Interest and other income (expense)

 

(0.2

)

 

(0.0

)

 

(0.1

)

 

(0.0

)

Earnings before income taxes

 

6.9

 

 

6.8

 

 

7.5

 

 

8.9

 

Income tax expense

 

1.7

 

 

1.8

 

 

2.3

 

 

2.7

 

Net earnings including noncontrolling interests

 

5.2

 

 

5.0

 

 

5.2

 

 

6.2

 

Net income (loss) attributable to noncontrolling interests

 

0.0

 

 

(0.0

)

 

(0.0

)

 

(0.0

)

Net earnings attributable to Buffalo Wild Wings

 

5.2

%

 

5.0

%

 

5.2

%

 

6.2

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BUFFALO WILD WINGS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET

(Dollar amounts in thousands) (unaudited)

 

 

 

 

 

 

 

December 27,

 

December 28,

 

 

2015

 

2014

Assets

 

 

 

 

Current assets:

 

 

 

 

Cash and cash equivalents

 

$

11,220

 

 

93,329

 

Marketable securities

 

9,043

 

 

19,547

 

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

 

34,087

 

 

28,322

 

Inventory

 

15,351

 

 

11,893

 

Prepaid expenses

 

6,386

 

 

4,215

 

Refundable income taxes

 

21,591

 

 

9,779

 

Deferred income taxes

 

 

 

15,807

 

Restricted assets

 

100,073

 

 

81,037

 

Total current assets

 

197,751

 

 

263,929

 

 

 

 

 

 

Property and equipment, net

 

604,712

 

 

494,401

 

Reacquired franchise rights, net

 

129,282

 

 

37,631

 

Other assets

 

26,536

 

 

19,399

 

Goodwill

 

114,101

 

 

38,106

 

Total assets

 

$

1,072,382

 

 

853,466

 

Liabilities and Stockholders' Equity

 

 

 

 

Current liabilities:

 

 

 

 

Unearned franchise fees

 

$

2,144

 

 

2,099

 

Accounts payable

 

44,760

 

 

37,241

 

Accrued compensation and benefits

 

55,578

 

 

59,161

 

Accrued expenses

 

21,678

 

 

16,573

 

Current portion of long-term debt and capital lease obligations

 

2,147

 

 

 

Current portion of deferred lease credits

 

59

 

 

743

 

Due to related party

 

36,179

 

 

 

System-wide payables

 

101,078

 

 

79,668

 

Total current liabilities

 

263,623

 

 

195,485

 

Long-term liabilities:

 

 

 

 

Other liabilities

 

16,473

 

 

6,388

 

Deferred income taxes

 

23,351

 

 

39,815

 

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

 

70,954

 

 

 

Deferred lease credits, net of current

 

41,869

 

 

37,479

 

Total liabilities

 

416,270

 

 

279,167

 

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 18,917,776 and 18,937,131, respectively

 

160,353

 

 

148,114

 

Retained earnings

 

499,085

 

 

427,695

 

Accumulated other comprehensive loss

 

(3,719

)

 

(2,096

)

Total stockholders' equity

 

655,719

 

 

573,713

 

Noncontrolling interest

 

393

 

 

586

 

Total equity

 

656,112

 

 

574,299

 

Total liabilities and equity

 

$

1,072,382

 

 

853,466

 

 

 

 

 

 

 

 

 

 

BUFFALO WILD WINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Dollar amounts in thousands)

(unaudited)

 

 

 

 

 

Twelve months ended

 

 

December 27,

 

December 28,

 

 

2015

 

2014

Cash flows from operating activities:

 

 

 

 

Net earnings including noncontrolling interests

 

$

94,876

 

 

94,055

 

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

 

 

 

 

Depreciation

 

120,060

 

 

93,773

 

Amortization

 

7,443

 

 

4,681

 

Loss on asset disposals and impairment

 

7,462

 

 

3,827

 

Deferred lease credits

 

4,052

 

 

4,331

 

Deferred income taxes

 

155

 

 

(3,946

)

Stock-based compensation

 

13,647

 

 

14,253

 

Excess tax benefit from stock issuance

 

(5,455

)

 

(2,500

)

Loss on investments in affiliates

 

687

 

 

 

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

 

 

 

 

Trading securities

 

(495

)

 

(972

)

Accounts receivable

 

(4,313

)

 

(3,443

)

Inventory

 

(2,407

)

 

(2,178

)

Prepaid expenses

 

(691

)

 

383

 

Other assets

 

(6,381

)

 

(139

)

Unearned franchise fees

 

100

 

 

191

 

Accounts payable

 

4,445

 

 

5,343

 

Income taxes

 

(6,356

)

 

(2,948

)

Accrued expenses

 

10,867

 

 

13,155

 

Net cash provided by operating activities

 

237,696

 

 

217,866

 

Cash flows from investing activities:

 

 

 

 

Acquisition of property and equipment

 

(172,548

)

 

(137,466

)

Acquisition of businesses/investments in affiliates

 

(203,642

)

 

(30,572

)

Purchase of marketable securities

 

(12,301

)

 

(22,991

)

Proceeds from marketable securities

 

23,300

 

 

12,000

 

Net cash used in investing activities

 

(365,191

)

 

(179,029

)

Cash flows from financing activities:

 

 

 

 

Proceeds from line of credit

 

352,678

 

 

 

Repayments of line of credit

 

(318,148

)

 

 

Proceeds from related party borrowing

 

36,179

 

 

 

Repurchases of common stock

 

(25,000

)

 

 

Other financing activities

 

(3,173

)

 

 

Issuance of common stock

 

5,355

 

 

3,032

 

Excess tax benefit from stock issuance

 

5,455

 

 

2,500

 

Tax payments for restricted stock units

 

(7,847

)

 

(7,474

)

Net cash provided by (used in) financing activities

 

45,499

 

 

(1,942

)

Effect of exchange rate changes on cash and cash equivalents

 

(113

)

 

(1,068

)

Net increase (decrease) in cash and cash equivalents

 

(82,109

)

 

35,827

 

Cash and cash equivalents at beginning of year

 

93,329

 

 

57,502

 

Cash and cash equivalents at end of year

 

$

11,220

 

 

93,329

 

 

 

 

 

 

 

 

 

 

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

2015

 

501

 

517

 

573

 

596

2014

 

443

 

449

 

463

 

491

2013

 

397

 

407

 

415

 

434

2012

 

327

 

330

 

343

 

381

2011

 

263

 

277

 

288

 

319

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q2

 

Q3

 

Q4

2015

 

593

 

593

 

569

 

579

2014

 

569

 

579

 

588

 

591

2013

 

514

 

525

 

534

 

559

2012

 

505

 

505

 

511

 

510

2011

 

488

 

492

 

498

 

498

 

Restaurant Count Rollforward:

 

 

 

 

 

 

 

 

 

Twelve months ended

 

 

December 27, 2015

 

December 28, 2014

 

 

Corporate

 

Franchise

 

Total

 

Corporate

 

Franchise

 

Total

Buffalo Wild Wings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning of period

 

487

 

 

584

 

 

1,071

 

 

434

 

 

559

 

 

993

 

Opened

 

51

 

 

50

 

 

101

 

 

46

 

 

47

 

 

93

 

Acquired

 

54

 

 

(54

)

 

 

 

13

 

 

(13

)

 

 

Closed/Relocated

 

(2

)

 

(7

)

 

(9

)

 

(6

)

 

(9

)

 

(15

)

End of period

 

590

 

 

573

 

 

1,163

 

 

487

 

 

584

 

 

1,071

 

R Taco

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning of period

 

2

 

 

7

 

 

9

 

 

 

 

 

 

 

Opened

 

1

 

 

 

 

1

 

 

 

 

 

 

 

Acquired

 

1

 

 

(1

)

 

 

 

2

 

 

7

 

 

9

 

Closed/Relocated

 

 

 

 

 

 

 

 

 

 

 

 

End of period

 

4

 

 

6

 

 

10

 

 

2

 

 

7

 

 

9

 

PizzaRev

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning of period

 

2

 

 

n/a

 

 

2

 

 

 

 

n/a

 

 

 

Opened

 

 

 

n/a

 

 

 

 

2

 

 

n/a

 

 

2

 

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

 

596

 

 

579

 

 

1,175

 

 

491

 

 

591

 

 

1,082

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BUFFALO WILD WINGS, INC. AND SUBSIDIARIES

Supplemental Information

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

Company-owned Restaurants:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Year

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%

2011

 

 

3.9%

 

5.9%

 

5.7%

 

8.9%

 

6.1%

 

 

 

 

 

 

 

 

 

 

 

 

Franchised Restaurants:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Year

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%

2011

 

 

1.6%

 

2.7%

 

4.2%

 

5.9%

 

3.6%

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

Company-owned Restaurants:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Year

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

2011

 

 

48,845

 

47,970

 

49,461

 

51,983

 

49,627

 

 

 

 

 

 

 

 

 

 

 

 

Franchised Restaurants:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Year

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

2011

 

 

52,744

 

50,995

 

51,350

 

53,385

 

52,081

 

 

 

 

 

 

 

 

 

 

 

 

SOURCE Buffalo Wild Wings, Inc.

Contact:

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

###

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