Buffalo Wild Wings, Inc.(BWLD)- NASDAQ
  • 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 | 11 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
  • Wed, Aug. 17, 8:00 AM
    • Jefferies analyst Alexander Slagle sticks with a Hold rating on Buffalo Wild Wings (NASDAQ:BWLD) after taking in the company's analyst day event.
    • "While we applaud these first steps, we suspect some investors may have expected more, hence the stock's negative reaction. We think the stock remains range-bound as visibility on accelerating SSS trends remains dim," writes Slagle.
    • The investment firm keeps a price target of $135 on BWLD.
    • Buffalo Wild Wings Analyst Day slides (.pdf)
    | Wed, Aug. 17, 8:00 AM
  • Wed, Aug. 17, 7:59 AM
    • Jefferies analyst Alexander Slagle sticks with a Hold rating on Buffalo Wild Wings (NASDAQ:BWLD) after taking in the company's analyst day event.
    • "While we applaud these first steps, we suspect some investors may have expected more, hence the stock's negative reaction. We think the stock remains range-bound as visibility on accelerating SSS trends remains dim," writes Slagle.
    • The investment firm keeps a price target of $135 on BWLD.
    | Wed, Aug. 17, 7:59 AM
  • Tue, Aug. 16, 12:55 PM
    • Buffalo Wild Wings (BWLD -2.1%) announces that it increased its share repurchase program by an additional $300M.
    • The repurchase authorization replaces the previously approved $200M share repurchase program, of which approximately $75M dollars remains.  The company's total buyback firepower is now $375M.
    • Buffalo Wild Wings also announced that it is targeting a debt to EBITDA leverage ratio of up to 1.5X and that it intends to increase its line of credit facility to $500M by Q4.
    • Source: Press Release
    | Tue, Aug. 16, 12:55 PM
  • Thu, Aug. 11, 2:57 PM
    • Wendy's (WEN +0.4%) CEO Todd Penegor confirmed that a consumer trend of eating home is at play, although he pointed to pricing not civil discontent as the larger factor.
    • "The continued gap in the cost of eating at home and dining out is at the widest point since the recession," stated Todd Penegor.
    • Just a partial list of restaurant chains that disappointed with their Q2 comparable sales growth marks includes Brinker International (NYSE:EAT), Bojangles (NASDAQ:BOJA), Red Robin Gourmet Burgers (NASDAQ:RRGB), Habit Restaurants (NASDAQ:HABT), Bravo Brio Restaurant Group (NASDAQ:BBRG), Cosi (NASDAQ:COSI), Bloomin' Brands (NASDAQ:BLMN), Buffalo Wild Wings (NASDAQ:BWLD), and Noodles (NASDAQ:NDLS).
    • Wendy's earnings call transcript
    • Related: Consumers trade down to fast food (Aug. 4)
    | Thu, Aug. 11, 2:57 PM | 3 Comments
  • Tue, Aug. 9, 8:24 AM
    • Credit Suisse upgrades Buffalo Wild Wings (NASDAQ:BWLD) to Neutral after having an Underperform stance on the restaurant stock.
    • The company is cruising into a period of easier sales comparisons and lower chicken wing costs, notes CS. The presence of activist shareholders is also seen as a positive driver.
    • The upgrade from Credit Suisse leaves BWLD with only one Sell rating on Wall Street out of the 26 firms covering the stock.
    • Last week, BMO Capital issued an optimistic outlook on BWLD.
    • Shares of Buffalo Wild Wings trade near the mid-point of their 52-week range of $122.25 to $205.83.
    | Tue, Aug. 9, 8:24 AM
  • Mon, Aug. 8, 8:46 AM
    • BMO Capital keeps an Outperform rating on Buffalo Wild Wings (NASDAQ:BWLD) on a favorable view of the impact of wing pricing
    • Wing prices fell modestly last week to mark the 12th consecutive week of lower prices.
    • The investment firm thinks the setup for wing prices looks attractive for BWLD over the next 12 to 18 months.
    • BMO sticks with a price target of $165 on the restaurant chain.
    • The positive outlook on wing pricing is also of interest to Wingstop (NASDAQ:WING) shareholders.
    | Mon, Aug. 8, 8:46 AM
  • Sat, Aug. 6, 11:06 AM
    • The heavy investment by the automobile industry on self-driving technology could end up benefiting restaurants and beer companies, according to some conjecture from Morgan Stanley.
    • The math from MS works out like this: You take the 39% of the 2.1B global drinking population that drives and factor in that their average intake of alcohol would increase from 1.5 drinks to 2.5 drinks per week with a self-driving car to haul them home. Assign a value per drink of $2.32 and you have an incremental annual benefit of $98B for the restaurant and alcohol industry.
    • There's conflicting data on the impact of Uber (Private:UBER) and Lyft (Private:LYFT) on alcohol consumption, so the Morgan Stanley theory has a ways before playing out. Still, Morgan's Adam Jonas is convinced the automobile industry is heading toward a future of fully autonomous transport in which the driving experience is nostalgic. The buying habits of younger millennials support the thesis to a degree.
    • During the Tesla Motors (NASDAQ:TSLA) earnings call earlier this week, Elon Musk predicted global demand for self-driving cars would reach 2.5B. Execs with General Motors (NYSE:GM), BMW (OTCPK:BMWYY), and Toyota (NYSE:TM) also talked autonomous models in their CCs.
    • If Jonas and Musk are anywhere close to correct, the list of companies that could benefit from the autonomous push includes Buffalo Wild Wings (NASDAQ:BWLD), Dine Equity (NYSE:DIN), Anheuser-Busch InBev (NYSE:BUD), Molson Coors (NYSE:TAP), Boston Beer (NYSE:SAM), Brinker International (NYSE:EAT), Bloomin' Brands (NASDAQ:BLMN), Ignite Restaurant Group (NASDAQ:IRG), Kona Grille (NASDAQ:KONA), Diageo (NYSE:DEO), Constellations Brands (NYSE:STZ), and Craft Brew Alliance (NASDAQ:BREW).
    • Related ETF: BITE.
    | Sat, Aug. 6, 11:06 AM | 108 Comments
  • Mon, Aug. 1, 12:48 PM
    • PizzaRev announces it signed a franchise agreement to develop new stores in the northern part of Lousiana.
    • The fast-casual pizza chain already operates in California, Colorado, Minnesota, Nevada, New York, Ohio, South Dakota, Tennessee, Texas, Utah, and Mexico through a mix of franchised locations and company-owned stores.
    • PizzaRev backer Buffalo Wild Wings (NASDAQ:BWLD) is under increasing pressure to deliver value from its PizzaRev and R Taco concepts with activist investors nipping at its heel.
    | Mon, Aug. 1, 12:48 PM
  • Wed, Jul. 27, 10:18 AM
    • Buffalo Wild Wings (BWLD +12.1%) says on its earnings call that takeout sales jumped 25% in Q2. Digital orders accounted for 16% of takeout and generated a higher average ticket.
    • The company says the Fast Break lunch program (15 minutes or free) is going well so far in Q3.
    • A key point as always with the restaurant chain is chicken wing costs. So far in Q3, chicken wing prices are averaging $1.69 per pound vs. $1.79 last year.
    • The company is saving on labor costs through the use of handhelds in some key markets. The company is limiting the program to high labor cost regions.
    • The most curious part of the call might have been CEO Sally Smith's observation that Q2 same-store sales fell over 2% in part due to the lack of deep runs by the Chicago Bulls and Chicago Blackhawks in the playoffs. The two teams played 28 fewer playoff games this year which hurt the company in one of its best markets. Apparently, BWLD shareholders need to root harder for the Windy City teams.
    • Previously: Buffalo Wild Wings beats by $0.01, misses on revenue (July 26)
    • Previously: Buffalo Wild Wings higher despite another same-store sales drop (July 26)
    • Buffalo Wild Wings earnings call transcript
    | Wed, Jul. 27, 10:18 AM | 5 Comments
  • Tue, Jul. 26, 4:21 PM
    • Same-store sales were negative for Buffalo Wild Wings (NASDAQ:BWLD) in Q2 for the second straight month. Total revenue was up 15% with more stores in the system.
    • The comp for company-owned restaurants was -2.1%, while the franchised comp was -2.6%. Average weekly sales decreased at company-owned stores 3.3% to $59,894.
    • Expenses: Cost of sales as a percentage of total sales were up 40 bps to 29.3%. Labor costs -20 bps to 32.0%. Operating costs +50 bps to 14.6%.
    • 2016 store growth plans: ~40 company-owned Buffalo Wild Wings restaurants; 30 to 35 franchised Buffalo Wild Wings locations in the U.S.; 12 to 15 franchised Buffalo Wild Wing locations internationally; 6 company-owned and 4 franchised R Taco restaurants.
    • Previously: Buffalo Wild Wings beats by $0.01, misses on revenue (July 26)
    • BWLD +2.22% AH to $150.27.
    | Tue, Jul. 26, 4:21 PM | 5 Comments
  • Tue, Jul. 26, 4:06 PM
    • Buffalo Wild Wings (NASDAQ:BWLD): Q2 EPS of $1.27 beats by $0.01.
    • Revenue of $490.18M (+15.0% Y/Y) misses by $8.14M.
    • Shares -0.76%.
    • Press Release
    | Tue, Jul. 26, 4:06 PM | 1 Comment
  • Mon, Jul. 25, 5:35 PM