Buffalo Wild Wings ($BWLD) shares soar despite 2Q miss

Buffalo Wild Wings’ [stckqut]BWLD[/stckqut] second quarter profits were down more than 9 percent and fell short of stock analysts’ estimates, as the restaurant chain coped with higher labor and chicken wing costs.

The Golden Valley-based company, known for its wings, beer and sports motif, posted second quarter net earnings of $21.5 million or $1.12 per share, down from $23.7 million or $1.25 a year ago.

Stock analysts polled by Thomson Reuters, on average, were expecting per share profits of $1.26.

Buffalo Wild Wings announced its earnings after the stock market closed Tuesday. On Wednesday, shares were up more than 13 percent in midday trading.Buffalo Wild Wings recorded sales of $426.4 million, up 16.5 percent over a year ago but short of the $429.3 million expected by analysts.

However, same-store sales, a key financial gauge, rose 4.2 percent over a year ago at stores owned by Buffalo Wild Wings and 2.5 percent at franchised stores — a better performance than analysts expected. Comparable sales take into account newly opened and closed stores.

Source: Buffalo Wild Wings shares soar despite 2Q miss – StarTribune.com

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