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Buffalo Wild Wings posted earnings nearly in line with expectations on Wednesday, despite declining sales in the third quarter.
The restaurant chain posted earnings of $1.23 per share, slightly above analysts expectations of $1.22 per share. Revenue came in lighter than expected at $494 million against expectations of $500 million.
Sales for the chain were down from the same quarter a year ago by 1.6%, but this was a bit less than the 1.7% drop expected by analysts.
“As we look forward to 2017, we remain committed to continued innovation in delivering a differentiated experience in casual dining and we’re identifying areas of opportunity to improve margins,” said CEO Sally Smith in a press release accompanying earnings. “Our new menu launches next week and we are excited for our new burger launch.”
The company’s outlook for the full year earnings per share was $5.65 to $5.85 per share, while analysts expect $5.70 per share.
Following the news, the stock was up around 3% in post-market trading at $140.50 a share.
- Markets Insider