Buffalo Wild Wings, Inc. Announces First Quarter Earnings Per Share of $1.73

2016 Earnings Per Diluted Share Outlook of $5.65 to $5.85

MINNEAPOLIS - April 26, 2016 - (BUSINESS WIRE) - Buffalo Wild Wings, Inc. (NASDAQ: BWLD) announced today financial results for the first quarter ended March 27, 2016. Highlights for the first quarter versus the same period a year ago were:

  • Total revenue increased 15.4% to $508.3 million
  • Company-owned restaurant sales increased 16.6% to $483.9 million
  • Same-store sales decreased 1.7% at company-owned restaurants and 2.4% at franchised restaurants
  • Net earnings increased 12.8% to $32.8 million from $29.0 million, and earnings per diluted share increased 13.5% to $1.73 from $1.52

Sally Smith, President and Chief Executive Officer, commented, "Our total revenue in the first quarter increased 15.4%, when compared to the prior year, resulting from continued unit development and franchise acquisitions over the last 12 months. We are dissatisfied to report a same-store sales decline and we're undertaking several sales-driving initiatives to regain momentum. We were able to manage costs and improve our restaurant-level margin, and earnings per diluted share increased 13.5% year-over-year to $1.73."

Total revenue increased 15.4% to $508.3 million in the first quarter, compared to $440.6 million in the first quarter of 2015. Company-owned restaurant sales for the quarter increased 16.6% over the same period in 2015, to $483.9 million, driven by 100 additional Buffalo Wild Wings® restaurants at the end of the first quarter of 2016, partially offset by a same-store sales decrease of 1.7%. Franchise royalties and fees decreased 5.0% to $24.3 million for the quarter, versus $25.6 million in the first quarter of 2015. This decrease is attributed to seven fewer franchised Buffalo Wild Wings locations and a same-store sales decrease of 2.4% at franchised Buffalo Wild Wings restaurants in operation at the end of the period, compared to the same period in 2015.

Average weekly sales for company-owned Buffalo Wild Wings restaurants were $62,829 for the first quarter of 2016, compared to $64,851 for the same quarter last year, a 3.1% decrease. Franchised Buffalo Wild Wings restaurants in the United States averaged $65,636 for the period, versus $67,075 in the first quarter a year ago, a 2.1% decrease.

Other income in 2016 consisted primarily of a gain related to the valuation of contingent consideration for a franchise acquisition of $1.1 million, partially offset by interest expense of $0.9 million.

Under the previously announced share repurchase authorization, 173,892 shares were repurchased during the first quarter of 2016 for a total of $25 million.

For the first quarter, net earnings increased 12.8% to $32.8 million, versus $29.0 million in the first quarter of 2015. Earnings per diluted share were $1.73, compared to first quarter 2015 earnings per diluted share of $1.52.

2016 Outlook

Ms. Smith remarked, "We are focused on sales-driving initiatives to regain momentum in 2016. To strengthen our FastBreak™ lunch program, we're piloting a speed of service guarantee. We're promoting Wing Tuesdays® while evaluating different pricing and bundling options for this value day. Soccer is a growing sport in the United States and we'll be the place to watch all the action on the pitch for the major tournaments this summer."

Ms. Smith concluded, "The Buffalo Wild Wings brand remains strong and poised to deliver long-term earnings growth. In 2016, we're continuing our development of new company-owned and franchised Buffalo Wild Wings restaurants in the United States and we are aggressively remodeling locations. Given our recent sales trends and an increasing outlook for the cost of traditional chicken wings, we believe earnings per diluted share in 2016 should be $5.65 to $5.85."

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

  • Approximately 40 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:

  • Improving same-store sales
  • Deflationary food costs, excluding traditional chicken wings
  • Depreciation and amortization expense of $150 to $155 million
  • Share repurchase activity of approximately $100 million
  • Earnings per diluted share of $5.65 to $5.85
  • Capital expenditures of approximately $190 million, excluding additional franchise acquisitions or emerging brand investments

Buffalo Wild Wings will be hosting a conference call today, April 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 May 3, 2016. To access this replay, please dial 1.858.384.5517 password 5721467.

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 1,180 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 second quarter trends and projected unit and net earnings growth rates for 2016, and beyond. 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

 

 

 

March 27,

 

 

March 29,

 

 

 

2016

 

 

2015

Revenue:

 

 

 

 

 

 

Restaurant sales

 

 

$

483,911

 

 

 

414,972

 

Franchise royalties and fees

 

 

 

24,346

 

 

 

25,614

 

Total revenue

 

 

 

508,257

 

 

 

440,586

 

Costs and expenses:

 

 

 

 

 

 

Restaurant operating costs:

 

 

 

 

 

 

Cost of sales

 

 

 

143,823

 

 

 

125,677

 

Labor

 

 

 

149,129

 

 

 

130,394

 

Operating

 

 

 

69,680

 

 

 

58,551

 

Occupancy

 

 

 

26,723

 

 

 

21,990

 

Depreciation and amortization

 

 

 

37,549

 

 

 

28,069

 

General and administrative

 

 

 

31,665

 

 

 

30,522

 

Preopening

 

 

 

1,863

 

 

 

1,270

 

Loss on asset disposals

 

 

 

1,222

 

 

 

605

 

Total costs and expenses

 

 

 

461,654

 

 

 

397,078

 

Income from operations

 

 

 

46,603

 

 

 

43,508

 

Interest and other income (expense)

 

 

 

27

 

 

 

(75

)

Earnings before income taxes

 

 

 

46,630

 

 

 

43,433

 

Income tax expense

 

 

 

13,952

 

 

 

14,448

 

Net earnings including noncontrolling interests

 

 

 

32,678

 

 

 

28,985

 

Net loss attributable to noncontrolling interests

 

 

 

(95

)

 

 

(78

)

Net earnings attributable to Buffalo Wild Wings

 

 

$

32,773

 

 

 

29,063

 

Earnings per common share - basic

 

 

$

1.73

 

 

 

1.53

 

Earnings per common share - diluted

 

 

$

1.73

 

 

 

1.52

 

Weighted average shares outstanding - basic

 

 

 

18,922

 

 

 

18,993

 

Weighted average shares outstanding - diluted

 

 

 

18,957

 

 

 

19,074

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

March 27,

 

 

March 29,

 

 

 

2016

 

 

2015

Revenue:

 

 

 

 

 

 

Restaurant sales

 

 

95.2

%

 

 

94.2

%

Franchise royalties and fees

 

 

4.8

 

 

 

5.8

 

Total revenue

 

 

100.0

 

 

 

100.0

 

Costs and expenses:

 

 

 

 

 

 

Restaurant operating costs:

 

 

 

 

 

 

Cost of sales

 

 

29.7

 

 

 

30.3

 

Labor

 

 

30.8

 

 

 

31.4

 

Operating

 

 

14.4

 

 

 

14.1

 

Occupancy

 

 

5.5

 

 

 

5.3

 

Depreciation and amortization

 

 

7.4

 

 

 

6.4

 

General and administrative

 

 

6.2

 

 

 

6.9

 

Preopening

 

 

0.4

 

 

 

0.3

 

Loss on asset disposals

 

 

0.2

 

 

 

0.1

 

Total costs and expenses

 

 

90.8

 

 

 

90.1

 

Income from operations

 

 

9.2

 

 

 

9.9

 

Interest and other income (expense)

 

 

0.0

 

 

 

(0.0

)

Earnings before income taxes

 

 

9.2

 

 

 

9.9

 

Income tax expense

 

 

2.7

 

 

 

3.3

 

Net earnings including noncontrolling interests

 

 

6.4

 

 

 

6.6

 

Net loss attributable to noncontrolling interests

 

 

(0.0

)

 

 

(0.0

)

Net earnings attributable to Buffalo Wild Wings

 

 

6.4

%

 

 

6.6

%

 

 

 

 

 

 

 

 

 

 

 

BUFFALO WILD WINGS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Dollar amounts in thousands)

(unaudited)

 

 

 

 

March 27,

 

 

December 27,

 

 

 

2016

 

 

2015

Assets

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

 

$

11,693

 

 

 

11,220

 

Marketable securities

 

 

 

9,147

 

 

 

9,043

 

Accounts receivable, net of allowance of $25

 

 

 

33,873

 

 

 

34,087

 

Inventory

 

 

 

14,583

 

 

 

15,351

 

Prepaid expenses

 

 

 

5,509

 

 

 

6,386

 

Refundable income taxes

 

 

 

 

 

 

21,591

 

Restricted assets

 

 

 

22,880

 

 

 

100,073

 

Total current assets

 

 

 

97,685

 

 

 

197,751

 

 

 

 

 

 

 

 

Property and equipment, net

 

 

 

593,670

 

 

 

604,712

 

Reacquired franchise rights, net

 

 

 

128,175

 

 

 

129,282

 

Other assets

 

 

 

36,122

 

 

 

26,536

 

Goodwill

 

 

 

115,823

 

 

 

114,101

 

Total assets

 

 

$

971,475

 

 

 

1,072,382

 

 

 

 

 

 

 

 

Liabilities and Stockholders' Equity

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Unearned franchise fees

 

 

$

1,963

 

 

 

2,144

 

Accounts payable

 

 

 

40,762

 

 

 

44,760

 

Accrued compensation and benefits

 

 

 

31,943

 

 

 

55,578

 

Accrued expenses

 

 

 

19,675

 

 

 

21,678

 

Income tax payable

 

 

 

1,189

 

 

 

 

Current portion of long-term debt and capital lease obligations

 

 

 

4,787

 

 

 

2,147

 

Current portion of deferred lease credits

 

 

 

76

 

 

 

59

 

System-wide payables

 

 

 

81,220

 

 

 

137,257

 

Total current liabilities

 

 

 

181,615

 

 

 

263,623

 

 

 

 

 

 

 

 

Long-term liabilities:

 

 

 

 

 

 

Other liabilities

 

 

 

16,168

 

 

 

16,473

 

Deferred income taxes

 

 

 

24,585

 

 

 

23,726

 

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

 

 

 

42,423

 

 

 

70,954

 

Deferred lease credits

 

 

 

42,636

 

 

 

41,869

 

Total liabilities

 

 

 

307,427

 

 

 

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 18,750,276 and 18,917,776, respectively

 

 

 

159,265

 

 

 

160,353

 

Retained earnings

 

 

 

508,332

 

 

 

499,085

 

Accumulated other comprehensive loss

 

 

 

(3,847

)

 

 

(4,094

)

Total stockholders' equity

 

 

 

663,750

 

 

 

655,344

 

Noncontrolling interests

 

 

 

298

 

 

 

393

 

Total equity

 

 

 

664,048

 

 

 

655,737

 

Total liabilities and equity

 

 

$

971,475

 

 

 

1,072,382

 

 

 

 

 

 

 

 

 

 

 

 

 

BUFFALO WILD WINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Dollar amounts in thousands)

(unaudited)

 

 

 

 

Three months ended

 

 

 

March 27,

 

 

March 29,

 

 

 

2016

 

 

2015

Cash flows from operating activities:

 

 

 

 

 

 

Net earnings including noncontrolling interests

 

 

$

32,678

 

 

 

28,985

 

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

 

 

 

 

 

 

Depreciation

 

 

 

34,552

 

 

 

26,851

 

Amortization

 

 

 

2,997

 

 

 

1,218

 

Loss on asset disposals

 

 

 

1,222

 

 

 

605

 

Deferred lease credits

 

 

 

2,067

 

 

 

1,159

 

Deferred income taxes

 

 

 

858

 

 

 

(5,508

)

Stock-based compensation

 

 

 

1,404

 

 

 

2,745

 

Excess tax benefit from stock issuance

 

 

 

(33

)

 

 

(66

)

Change in fair value of contingent consideration

 

 

 

(1,106

)

 

 

 

Loss on investments in affiliates

 

 

 

158

 

 

 

 

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

 

 

 

 

 

 

Trading securities

 

 

 

(104

)

 

 

(328

)

Accounts receivable

 

 

 

(1,297

)

 

 

(2,053

)

Inventory

 

 

 

806

 

 

 

471

 

Prepaid expenses

 

 

 

889

 

 

 

(5,619

)

Other assets

 

 

 

(428

)

 

 

154

 

Unearned franchise fees

 

 

 

(181

)

 

 

362

 

Accounts payable

 

 

 

(706

)

 

 

(1,037

)

Income taxes

 

 

 

22,813

 

 

 

17,796

 

Accrued expenses

 

 

 

(19,488

)

 

 

(18,374

)

Net cash provided by operating activities

 

 

 

77,101

 

 

 

47,361

 

Cash flows from investing activities:

 

 

 

 

 

 

Acquisition of property and equipment

 

 

 

(34,094

)

 

 

(25,788

)

Acquisition of businesses

 

 

 

(3,860

)

 

 

(13,894

)

Purchase of marketable securities

 

 

 

 

 

 

(12,297

)

Proceeds from marketable securities

 

 

 

 

 

 

11,155

 

Net cash used in investing activities

 

 

 

(37,954

)

 

 

(40,824

)

Cash flows from financing activities:

 

 

 

 

 

 

Proceeds from line of credit

 

 

 

108,633

 

 

 

 

Repayments of line of credit

 

 

 

(135,514

)

 

 

 

Borrowings from restricted funds

 

 

 

22,622

 

 

 

 

Repurchases of common stock

 

 

 

(25,000

)

 

 

 

Other financing activities

 

 

 

(500

)

 

 

 

Issuance of common stock

 

 

 

434

 

 

 

231

 

Excess tax benefit from stock issuance

 

 

 

33

 

 

 

66

 

Tax payments for restricted stock units

 

 

 

(9,172

)

 

 

(7,627

)

Net cash used in financing activities

 

 

 

(38,464

)

 

 

(7,330

)

Effect of exchange rate changes on cash and cash equivalents

 

 

 

(210

)

 

 

65

 

Net increase (decrease) in cash and cash equivalents

 

 

 

473

 

 

 

(728

)

Cash and cash equivalents at beginning of period

 

 

 

11,220

 

 

 

93,329

 

Cash and cash equivalents at end of period

 

 

$

11,693

 

 

 

92,601

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

2015

 

 

593

 

 

593

 

 

569

 

 

579

2014

 

 

569

 

 

579

 

 

588

 

 

591

2013

 

 

514

 

 

525

 

 

534

 

 

559

2012

 

 

505

 

 

505

 

 

511

 

 

510

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restaurant Count Rollforward:

 

 

 

 

 

 

 

Three Months Ended

 

 

 

March 27, 2016

 

 

March 29, 2015

 

 

 

Corporate

 

 

Franchise

 

 

Total

 

 

Corporate

 

 

Franchise

 

 

Total

Buffalo Wild Wings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning of period

 

 

590

 

 

 

573

 

 

 

1,163

 

 

 

487

 

 

584

 

 

 

1,071

 

Opened

 

 

6

 

 

 

8

 

 

 

14

 

 

 

3

 

 

11

 

 

 

14

 

Acquired

 

 

1

 

 

 

(1

)

 

 

 

 

 

6

 

 

(6

)

 

 

 

Closed/Relocated

 

 

(1

)

 

 

 

 

 

(1

)

 

 

 

 

(2

)

 

 

(2

)

End of period

 

 

596

 

 

 

580

 

 

 

1,176

 

 

 

496

 

 

587

 

 

 

1,083

 

R Taco

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning of period

 

 

4

 

 

 

6

 

 

 

10

 

 

 

2

 

 

7

 

 

 

9

 

Opened

 

 

1

 

 

 

1

 

 

 

2

 

 

 

 

 

 

 

 

 

Acquired

 

 

 

 

 

 

 

 

 

 

 

1

 

 

(1

)

 

 

 

Closed/Relocated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

End of period

 

 

5

 

 

 

7

 

 

 

12

 

 

 

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

 

 

603

 

 

 

587

 

 

 

1,190

 

 

 

501

 

 

593

 

 

 

1,094

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

2016

 

 

 

(1.7%)

 

 

 

 

 

 

 

 

 

 

 

 

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%)

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SOURCE Buffalo Wild Wings, Inc.

Contact:

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

###

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