Buffalo Wild Wings 2011 profit rises 31%

Buffalo Wild Wings 2011 profit rises 31%
Staff Writer

A strong fourth quarter of sales and unit growth helped drive a more than 31-percent increase in Buffalo Wild Wings 2011 annual net income compared with a year earlier.

For the fourth quarter ended Dec. 25, 2011, the Minneapolis-based casual-dining chain recorded net income of $13.6 million, or 73 cents per share, a 34-percent increase from $10.2 million, or 55 cents per share, a year earlier.

Revenue for the quarter rose 34.5 percent to $220.5 million, compared with $163.9 million a year earlier. That figure reflected a same-store sales gain of 8.9 percent at company-owned locations and 60 more corporate units compared with the fourth quarter of 2010.

Same-store sales grew 5.9 percent at franchised locations, of which there were 25 more than at the end of 2010’s fourth quarter.

Full-year net income rose to $50.4 million from $38.4 million in fiscal 2010. Revenue for the year rose 27.9 percent to $784.5 million, or $2.73 per share, from $613.3 million, from $2.10 per share, a year earlier.

For the full year, same-store sales increased 6.1 percent at company-owned locations and 3.6 percent at franchised locations.

Chief executive Sally Smith said in a statement that sales momentum was continuing into the first quarter of 2012, with same-store sales for the first six weeks of the year up 12.9 percent at corporate units and 10.8 percent at franchised restaurants.

She added that the chain would debut a new marketing campaign this year and would execute a phased rollout of online ordering.

Buffalo Wild Wings operates or franchises 827 restaurants in 47 states and Canada.

Contact Mark Brandau at mark.brandau@penton.com.
Follow him on Twitter: @Mark_from_NRN

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