BWLD
Buffalo Wild Wings, Inc.NASDAQ
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  • Thu, Nov. 17, 11:49 AM
    • It's been a frisky few weeks for restaurant stocks as 41 out of 51 companies with a market cap of over $50M are in positive territory for the period. Some pleasing reports during the earnings season and a positive read on the sector post-election have factored in to the gains for the previously beaten-down sector.
    • +20% gainers over the last month include Red Robin Gourmet Burgers (NASDAQ:RRGB), Fogo De Chao (NASDAQ:FOGO) and Texas Roadhouse (NASDAQ:TXRH).
    • +10% risers include Denny's (NASDAQ:DENN), Buffalo Wild Wings (NASDAQ:BWLD), Cracker Barrel (NASDAQ:CBRL), Chuy's Holdings (NASDAQ:CHUY), Ruth's Hospitality (NASDAQ:RUTH), Popeyes Louisiana Kitchen (NASDAQ:PLKI), Darden Restaurants (NYSE:DRI), Bojangles (NASDAQ:BOJA), Del Frisco's Restaurant Group (NASDAQ:DFRG), Cheesecake Factory (NASDAQ:CAKE) and Wendy's (NYSE:WEN).
    • A piece in the WSJ today argues that investors may want to consider selling out of restaurant names after the recent rally.
    • Related ETF: BITE.
    | Thu, Nov. 17, 11:49 AM | 2 Comments
  • Wed, Nov. 16, 7:17 AM
    • Buffalo Wild Wings (NASDAQ:BWLD) announces that Santiago Abraham was hired to be its chief information officer, effective December 5.
    • Abraham will be responsible for the company’s technology strategy, policies, processes and practices to support the company's evolving business.
    • Abraham previously worked at  Royal Caribbean Cruises, where he was a top IT exec.
    • Source: Press Release
    | Wed, Nov. 16, 7:17 AM
  • Wed, Nov. 9, 6:47 AM
    | Wed, Nov. 9, 6:47 AM | 110 Comments
  • Thu, Oct. 27, 11:23 AM
    • There is some evidence that Buffalo Wild Wings (BWLD +5.3%) is paying attention to the unsolicited advice from activist investor Marcato Capital by focusing on margins.
    • "Our goal is to achieve a 20% restaurant level margin by the end of 2018 and we've identified several opportunities in cost of sales, labor, and operating expenses for 2017," CEO Sally Smith said on the earnings call yesterday. Restaurant-level margin was 17.6% in Q3 and is 18.3% YTD.
    • "We negotiated reduced pricing on our boneless wings and other chicken that will improve our cost of sales as a percent of restaurant sales by 20 basis points in 2017," she added.
    • "On cost of sales, we're focusing on waste reduction at the restaurant level and this will improve cost of sales as a percentage of restaurant sales by another 20 basis points," Smith pointed out.
    • Here's the Marcato Capital letter to BWLD as a refresher.
    • Earnings call transcript
    | Thu, Oct. 27, 11:23 AM | 3 Comments
  • Wed, Oct. 26, 4:33 PM
    • Buffalo Wild Wings (NASDAQ:BWLD) saw another quarter of falling comparable sales.
    • Same-store sales at company-owned restaurants fell 1.8%, while the franchised comp was -1.6%.
    • Average weekly sales at company-owned stores fell 3.5% to $59,690.
    • Expenses: Cost of sales as a percentage of total sales were down 50 bps to 28.9%. Labor costs -20 bps to 32.0%. Operating costs +90 bps to 15.6%.
    • 2016 store growth plans: ~35 company-owned Buffalo Wild Wings restaurants; 30 franchised Buffalo Wild Wings locations in the U.S.; 10 franchised Buffalo Wild Wing locations internationally; 5 company-owned and 2 franchised R Taco restaurants.
    • Previously: Buffalo Wild Wings EPS in-line, misses on revenue (Oct. 26)
    • BWLD +2.59% AH to $138.60.
    | Wed, Oct. 26, 4:33 PM | 2 Comments
  • Wed, Oct. 26, 4:08 PM
    • Buffalo Wild Wings (NASDAQ:BWLD): Q3 EPS of $1.23 in-line.
    • Revenue of $494.17M (+8.5% Y/Y) misses by $7.34M.
    • Shares +4.85%.
    • Press Release
    | Wed, Oct. 26, 4:08 PM | 1 Comment
  • Tue, Oct. 25, 5:35 PM
  • Tue, Oct. 25, 10:01 AM
    • Restaurant stocks are reeling after disappointing reports from Sonic (SONC -19.5%) and Brinker International (EAT -6.6%) to follow on some sluggish reads from other chains last week.
    • The two companies operate in different restaurant categories, but both cited some of the same traffic and labor costs issues.
    • Early decliners include Jack In The Box (JACK -3.4%), Wendy's (WEN -2.7%), Buffalo Wild Wings (BWLD -1.6%), Habit Restaurants (HABT -3.5%) and The Cheesecake Factory (CAKE -3.2%).
    • Chipotle (CMG +0.2%) and Panera Bread (PNRA -2.1%) are next in line, with their earnings due later today after the market closes in what are highly-anticipated reports.
    • Related ETF: BITE.
    | Tue, Oct. 25, 10:01 AM | 9 Comments
  • Tue, Oct. 18, 10:02 AM
    • A pretty interest pullout from today's release of consumer price numbers from the Bureau of Labor Statistics was the comparison between food prices at home and at restaurants (H/T Jonathan Maze of Nations Restaurant News).
    • September CPI data: Food at home -2.2% Y/Y and -0.1% M/M, food away from home +2.4% Y/Y and +0.2% M/M
    • The high cost of eating out is seen by analysts as a major factor in why traffic has been falling this year. Rising healthcare and labor costs have pressured restaurant chains to ratchet up prices.
    • Some related stocks: MCD, WEN, DIN, EAT, CBRL, QSR, JACK, BWLD, NDLS, PNRA, BJRI, BLMN, IRG, CAKE.
    • Related ETF: BITE.
    | Tue, Oct. 18, 10:02 AM | 6 Comments
  • Mon, Oct. 17, 1:18 PM
    | Mon, Oct. 17, 1:18 PM | 5 Comments
  • Tue, Oct. 11, 8:30 AM
    • Buffalo Wild Wings (NASDAQ:BWLD) announces the appointment of three new independent directors to the company’s board of directors.
    • CBS Radio president Andre Fernandez,  eBay exec Hal Lawton and Levis Strauss VP Harmit Singh join the board, effective immediately.
    • With the appointments, Buffalo Wild Wings has expanded the board from eight to nine slots, eight of whom are independent.
    • The actions came after activist investor Marcato Capital Management built up a 5.1% position in BWLD earlier this year.
    • Source: Press Release
    | Tue, Oct. 11, 8:30 AM | 1 Comment
  • Wed, Sep. 28, 10:06 AM
    • Restaurant stocks are out of favor after a brutal assessment on current trends by Sonic (SONC -6.2%) as part of its early look at FQ4 results.
    • "The shortfall was largely driven by lower-than-expected traffic, reflecting lower consumer spending in restaurants and continued aggressive competitive activity," noted Sonic CEO Cliff Hudson.
    • Only 5 restaurant stocks out of the 49 publicly-listed chains with a market cap of over $50M are in positive territory on the day. More than half the sector is showing a negative YTD return, despite a steady 6% return for the S&P 500 Index.
    • Decliners today include Dave & Buster's Entertainment (PLAY -3.5%), Jack in the Box (JACK -2.4%), Buffalo Wild Wings (BWLD -1.7%), Fiesta Restaurant Group (FRGI -1%), McDonald's (MCD -1.7%), Denny's (DENN -1.3%), and Kona Grill (KONA -0.9%).
    • Related ETF: BITE.
    | Wed, Sep. 28, 10:06 AM | 13 Comments
  • Sat, Sep. 10, 12:17 PM
    • The sluggish trend continues in the restaurant sector with same-store sales down 0.6% in August, according to the latest read from Black Box Intelligence.
    • Same-store traffic was 2.7% lower Y/Y during the month to improve on the 3.9% drop recorded in July. Average guest check across the industry was up 2.3% to help offset for some of the loss of customers.
    • Another weak month in the Southwest (sales -5%, traffic -7%) doesn't bode well for chains with a high concentration of stores in Texas.
    • Though the broad read from analysts is that consumer spending is still tight in the U.S., there are also some concerns that restaurant chains are having trouble building brand loyalty with millennials giving their business to independent eateries.
    • Restaurant stocks: CAKE, CBRL, DNKN, DPZ, DRI, EAT, JACK, MCD, RRGB, RT, SONC, WEN, BWLD, BDL, QSR, CHUY, BLMN, PZZA, TXRH, DENN, KKD, BBRG, DFRG, BOBE, RUTH, IRG, DIN, HABT, NDLS, BOJA, PBPB, PLKI, FRSH, RAVE, LOCO, TACO, PZZA, KONA, BGR, BJRI, CHUY, FRS, CBRL, GTIM, TAST, WING, BOJA, ZOES, PLAY, FOGO, ARCO, STKS, WING.
    • Related ETF: BITE.
    | Sat, Sep. 10, 12:17 PM | 12 Comments
  • Mon, Aug. 29, 10:52 AM
    • Keybanc says mixed beverage revenue at restaurants in Texas fell harder in July than the national average.
    • The analyst team led by Christopher O'Cull notes that Texas Roadhouse (NASDAQ:TXRH) already updated investors on its July trends during a guidance update, but warns on decelerating same-restaurant sales for Buffalo Wilds Wings (NASDAQ:BWLD), Olive Garden (NYSE:DRI), and Kona Grill (NASDAQ:KONA) during the month. Analysis suggests that Chili's (NYSE:EAT) outperformed and may end up with a positive SRS mark.
    • O'Cull ranks #847 out of the 4,127 analysts listed on TipRanks.com.
    | Mon, Aug. 29, 10:52 AM
  • Mon, Aug. 22, 5:51 PM
    • Canaccord Genuity dove into the restaurant sector after the market closed to pick out some favorites.
    • Sonic (NASDAQ:SONC), Dave & Buster's (NASDAQ:PLAY), Panera Bread (NASDAQ:PNRA), and Darden Restaurants (NYSE:DRI) were lined up with Buy ratings, with trends seen working in the favor of the chains.
    • Fogo De Chao (NASDAQ:FOGO), McDonald's (NYSE:MCD), Brinker International (NYSE:EAT), Del Frisco's Restaurants (NASDAQ:DFRG), and Buffalo Wild Wings (NASDAQ:BWLD) were assigned Hold ratings by the investment firm.
    • Traffic pressure in the U.S. is an ongoing concern for the restaurant industry.
    • Related ETF: BITE.
    | Mon, Aug. 22, 5:51 PM | 10 Comments
  • Wed, Aug. 17, 2:07 PM
    • Marcato Capital Management sent a biting letter to the Buffalo Wing Wings (BWLD +1.9%) chairman asking the company to shake up its executive roster and board due to poor performance.
    • "Suboptimal capital allocation behavior is symptomatic of a larger organizational deficiency: a tendency to favor gut feel and thematic proclamations without tangible evidence or appropriate analytical support," suggests Marcato.
    • The firm thinks the restaurant operator's share price could almost triple if a new direction was taken.
    • Buffalo Wild Wings issued a boiler plate response to the Marcato missive.
    • Marcato's letter and its detailed analysis on BWLD is posted in a SEC filing.
    | Wed, Aug. 17, 2:07 PM