Buffalo Wild Wings Inc. on Tuesday posted a 16 percent earnings gain in its second quarter but failed to meet analysts' earnings expectations.
With the National Football League labor dispute now over, the sports-reliant restaurant chain was hopeful for the rest of the year.
Sally Smith, Buffalo Wild Wings chief executive, said in a news release that with the NFL lockout's end she believes the company will reach its goal of growing annual profit by more than 20 percent. The company had been conducting a Facebook campaign to "Save our season," getting 45,000 people to sign on online petition urging NFL owners and players to settle.
"Our restaurant teams are gearing up to deliver the great game-day experience we're known for," Smith said.
The St. Louis Park-based wings chain posted profits of $10.7 million, or 58 cents per share, up from 50 cents a year ago, but below analysts' expectations of 60 cents per share. Revenue grew 26 percent to $184.1 million, beating analysts' forecasts by more than $7 million.
Same-store sales increased by 5.9 percent during the quarter at company-owned restaurants and 2.7 percent at franchised ones. Same-store sales exclude new restaurants.
The company reported results after the market closed. Its stock closed at $65.25, down just more than 2 percent, and fell another 1.5 percent in after-hours trading.
Marissa Evans • 612-673-4211
