Buffalo Wild Wings shares are getting smoked.
The stock is around $164 per share, down 10.7% from Tuesday's closing price.
The move comes after the company's disappointing Q1 earnings announcement.
Quarterly revenue jumped 19.8% to $440.6 million, but that was lower than the $452.7 million estimated by analysts.
Comparable store sales jumped 7%, but fell short of the 8.6% expected.
A 41% jump in the cost of chicken wings put the squeeze on profit margin, causing earnings to climb by just 1.7% to $1.52 per share, missing expectations for $1.63.
The stock is down by around 10% in after-hours trading.
While investors and traders may be disappointed, management isn't.
"We're pleased with our first quarter same-store sales of 7.0% at company-owned restaurants and 6.0% at franchised locations," CEO Sally Smith. "Sales were exceptionally strong during the college football bowl games as well as the NFL playoffs. Buffalo Wild Wings really came alive during March Madness® and we launched a new advertising campaign with unique commercials for each round of the tournament."
Smith, however, confirmed that sales growth has been decelerating early in its second quarter.
"Same-store sales increased 4.2% at company-owned restaurants and 1.8% at franchised locations for the first four weeks of the second quarter of 2015 compared to 5.7% and 4.4%, respectively, for the same period last year."
For some context, here's a historical look at the company's same-store sales from a March investor presentation.
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