This is why Buffalo Wild Wings’ stock price is tanking
Buffalo Wild Wings’ (BWLD) stock price is dropping sharply this morning, after the restaurant chain said it missed both earnings and revenue estimates in its most recent quarter.
Analysts had projected earnings per share of $1.29 on revenue of $465 million, but the company only posted earnings of $1 and $456 million in revenue. The company’s stock dropped more than 15% in after-hours trading on Wednesday following its earnings report.
The company did manage to increase revenue 22% from the same quarter in 2014 and boost same-store sales 3.9% at company-owned stores and 1.2% at franchised stores. However, guidance for the upcoming quarter was also weak because a shift in the calendar means there will be one less week of football than last year and fewer pay-per view events, CNBC reported.