Buffalo Wild Falls After Cutting Forecast on Higher Costs
Buffalo Wild Wings Inc. (BWLD), the casual- dining chain that gained 54 percent last year, dropped after yesterday lowering its full-year net income forecast because of rising food costs.
Profit for 2012 will increase 15 percent, Chief Executive Officer Sally Smith said in a statement. The company had previously estimated earnings growth of as much as 20 percent. The chicken-wing seller yesterday forecast net income growth of 20 percent in 2013.
Buffalo Wild Wings, along with other restaurant operators, has been facing higher costs for raw ingredients such as chicken wings. The company, which has about 860 stores in the U.S. and Canada, can expand to 1,700 North American locations, Smith said in the statement.
To contact the reporter on this story: Leslie Patton in Chicago at email@example.com
To contact the editor responsible for this story: Robin Ajello at firstname.lastname@example.org
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.