Buffalo Wild Wings Grill & Bar is “investigating potential concepts for acquisition that would provide additional growth,” according to Sally Smith, president and chief executive officer of the 835-store chain. In the company’s first quarter 2012 earnings report, Smith noted that “our plans include a development pace to achieve 1,500 locations in North America in the next five to seven years.” She noted that “though leveraging expenses at the restaurant level, we limited the impact of higher wing costs. For the first quarter, we achieved net earnings growth of over 22 percent and provided value to our shareholders with earnings per diluted share of $0.98.”
Total revenue increased 37.9 percent to $251.1 million in the first quarter compared to $182.2 million in the first quarter of 2011. Average weekly sales for company-owned restaurants were $55,131 for the first quarter of 2012 compared to $48,845 for the same quarter last year, a 12.9-percent increase. Franchised restaurants averaged $57,282 for the period versus $52,744 in the first quarter a year ago, an 8.6 percent increase.
For the first quarter, net earnings increased 22.8 percent to $18.2 million versus $14.9 million in the first quarter of 2011. Earnings per diluted share were $0.98, compared with $0.81 for first quarter 2011. Smith added that she expects net earnings growth of 20 percent for 2012.
