By TREVOR DELANEY
Buffalo Wild Wings reported quarterly earnings that fell short of Wall Street expectations Tuesday, yet the stock is having one of its best weeks ever — shares were up 15.1 percent through Thursday.
On a per-share basis, the Minneapolis-based company posted a profit of $1.12 for the second quarter. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.
Even so, in a note to clients analyst Robert Derrington of Wunderlich Securities wrote that there were "rays of sunshine," in the second quarter, including strong same-store-sales growth at the start of the third quarter — at company-owned restaurants, sales grew 4.8 percent. That number impressed many because a year prior the company had benefited from the men's World Cup finals.
Some analysts remain cautious. Jason West of Credit Suisse maintains an "underperform" rating, expressing concern about a few factors, including potential customer pushback from planned price increases.Associated Press