Buffalo Wild Wings soars in pre-market on better-than-expected Q2 earnings
Buffalo Wild Wings Inc. (Nasdaq:BWLD) has jumped 16% in pre-market trading today after the restaurant chain reported after Tuesday’s close second quarter earnings that beat Wall Street estimates. For the quarter ended June 29, net earnings were $5.6 million, or $0.31 per share, compared with $3.8 million, or $0.22 per share, for the same period a year ago. Revenues were up 29% from a year ago to $97.9 million. Analysts were expecting earnings per share of $0.27 on revenues of $94.5 million.
“Same-store sales continue to be strong in July, with increases of over 6% at company-owned and over 2% at franchised restaurants. We are in final preparation for the start of football season, with a redesigned menu rolling throughout the system this week, our HDTV and remodel projects nearing completion, our media and local marketing plans set, and our operations team trained and energized. We expect the purchase of our nine Las Vegas franchised locations to close in late September, said Sally Smith, president and CEO, in a statement.
Ahead of today’s opening, shares are at $35.69 at 9:06 a.m. ET, up $4.65 from Tuesday’s close. The stock has ranged from $18.25 to $43.85 during the past year.
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