Buffalo Wild Wings Earnings Miss Consensus, Outlook Lowered

Buffalo Wild Wings Inc. said Wednesday that it had second-quarter net income of $8.8 million, or 55 cents per share, down from $23.7 million, or $1.27 per share, for the same period last year. Adjusted EPS of 66 cents was below the $1.04 FactSet consensus. Revenue was $500.0 million, up from $490.2 million last year and below the $513.0 million FactSet consensus. Same-store sales at company-owned restaurants fell 1.2%, compared with a flat same-store sales consensus. Buffalo Wild Wings expects 2017 same-store sales to fall between 1% and 2% and adjusted EPS is expected to be between $4.50 and $5. The previous guidance was $5.45 to $5.90. Buffalo Wild Wings closed Wednesday down nearly 1%. Shares are down 24.5% for the last three months while the S&P 500 index is up 3.8% for the period.