Buffalo Wild Wings Misses Estimates; Stock Plunges

Buffalo Wild Wings BWLD released its fiscal second-quarter earnings results after the closing bell on Tuesday. The company reported net earnings of $11.7 million or $0.62 per share, compared to $10.7 million or $0.58 per share, in the year ago period. This missed Wall Street consensus EPS estimates of $0.68 per share by $0.06. Total revenues were up 29.7 percent to $238.7 million, compared to $184.1 million last year. This also missed analysts' consensus revenue estimates of $240.33 million. Same-store sales were up 5.3 percent at company-operated stores and 5.5 percent at franchised restaurants. In Tuesday's after hours trading session, BWLD shares have fallen almost 14% to $68.00. Sally Smith, President and Chief Executive Officer of the company, said, "Our focus for the remainder of the year is on driving strong sales and disciplined expense management. Like industries across the country, we are facing rising commodity costs. We are responding to the challenge with menu price increases and marketing and operations strategies that will help lessen the bottom-line impact of wings in the near future and long term. Considering these factors, and provided sales remain strong, we should achieve net earnings growth between 15% and 20% for 2012."