Restaurant chain Buffalo Wild Wings
With the restaurant group dishing out unpalatable quarterly numbers, expectations from Buffalo Wild Wings are muted.
BJ's Restaurants, Inc.
Comparable store sales fell 4 percent and traffic fell 4.2 percent, although checks rose 0.8 percent on the back of a 2.5 percent increase in pricing. Restaurant margin was underwhelming at 17.7 percent, hurt by food cost pressures. The stock has shed 5.5 percent since the earnings announcement.
Earlier Wednesday, Chipotle Mexican Grill, Inc.
Moving back to Buffalo Wild Wings, the Street is modeling earnings per share of $1.23, up from $1 in the year-ago period. Revenue growth is estimated at 10.10 percent resulting in quarterly revenue of 501.51 million.
The company will benefit in 2017 from many comp initiatives such as the roll out of half price wing Tuesdays, lunch throughput, online ordering/takeout remodels, loyalty and various technology implementations, the firm noted. Citing expense opportunities, the firm said it believes the company might be targeting 20 percent unit level margins.
At last check, Buffalo Wild Wings was trading at $135.45, down 0.62 percent.
|Oct 2016||Morgan Stanley||Maintains||Equal-Weight|
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