Buffalo Wild Wings, Inc. (BWLD) Tops Q1 EPS by 15c

Buffalo Wild Wings, Inc. (NASDAQ: BWLD) reported Q1 EPS of $1.49, $0.15 better than the analyst estimate of $1.34. Revenue for the quarter came in at $367.9 million versus the consensus estimate of $362.96 million. Same-store sales increased 6.6% at company-owned restaurants and 5.0% at franchised restaurants.

Sally Smith, President and Chief Executive Officer, commented, "Our first quarter was a great start to 2014. We're pleased with our strong revenue growth of 20.9%. For the quarter, same-store sales at company-owned restaurants increased 6.6% and same-store sales at franchised locations increased 5.0%. Sales momentum grew during February and March with the excitement of the Winter Olympics and March Madness bringing guests into our restaurants."

Ms. Smith continued, "Our net earnings increased 72.9%, outpacing the top line growth. Strong net earnings growth is primarily attributable to 46 additional company-owned restaurants compared to the prior year, the strength of same-store sales, and a 440-basis point improvement in cost of sales that was the result of significantly lower traditional chicken wing prices and our July 2013 transition to selling wings by portion."

2014 Outlook

Ms. Smith remarked, "We're pleased with our strong same-store sales to date in the second quarter of 5.7% at our company-owned restaurants and 4.4% at franchised locations. We estimate that Easter occurring in the first four weeks of the second quarter of 2014 had a negative impact of 90 basis points. During the second quarter, sports fans continue their enthusiasm with the growing excitement around the NBA and NHL playoffs. Later in the quarter, we'll promote Buffalo Wild Wings as the place to watch the 2014 FIFA World Cup™ tournament through increased advertising spend and unique games centered on the World Cup."

Ms. Smith concluded, "Based on our first quarter results, second quarter trends in same-store sales, and anticipated food costs, we believe we will achieve net earnings growth of 25% for 2014, an increase from our previous goal for the year. We are building for long-term earnings growth by investing in Buffalo Wild Wings in the United States and Canada, international franchising, and emerging brands. These investments will allow us to achieve our vision of being a company of 3,000 restaurants worldwide creating the ultimate experience for our guests, and providing sustained growth for our shareholders."

For earnings history and earnings-related data on Buffalo Wild Wings, Inc. (BWLD) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Pro Diversity Network (IPDN) Reports Q2 Loss of $0.15
• Sinda raises $331M in IPO, reports Q2 net loss of $16.6M