Buffalo Wild Wings Inc. rose the most in nine months after second-quarter same-store sales beat analysts’ estimates, helped by a promotion meant to attract American diners to sports that are more popular abroad.
Sales at company-owned restaurants open at least 15 months rose 4.2 percent while sales at franchised locations rose 2.5 percent, Minneapolis-based Buffalo Wild Wings said Tuesday in a statement. Analysts estimated a 3.6 percent gain at company locations and a 2.1 percent increase at franchises, according to Consensus Metrix.
Buffalo Wild Wings relies heavily on live sporting events to draw customers who’ll drink beer and eat chicken wings for hours. While the quarter featured fewer NBA and NHL playoff games than a year earlier, traffic was helped by the Women’s World Cup soccer tournament and the company’s “World of Sports” promotion, which highlighted sports like Australian rules football, hurling and badminton.
The shares climbed 11 percent to $189.74 at the close in New York, the biggest one-day gain since Oct. 28. The stock is now up 5.2 percent this year.