Buffalo Wild Wings via Foodbeast
Buffalo Wild Wings shares fell as much as 11% in after-hours trading on Tuesday after the company reported earnings that missed estimates pretty much across the board.
The fast-food chain posted adjusted earnings per share of $1.73, short of the forecast for $1.77, according to Bloomberg.
Revenues came in at $508.3 million, also missing the estimate for $530.8 million.
The company lowered its forecast for profits this year. It forecast full-year earnings per share in a range of $5.65 to $5.85, missing the projection for $6.10.
Same-store sales — at locations open for at least one year — also fell, by 1.7%.
"We are dissatisfied to report a same-store sales decline and we're undertaking several sales-driving initiatives to regain momentum," said CEO Sally Smith in the earnings release.
"We were able to manage costs and improve our restaurant-level margin, and earnings per diluted share increased 13.5% year-over-year to $1.73."
It was a big quarter for the company, with key sporting events including the Superbowl and March Madness. In the earnings statement, the company said it's counting on a growing soccer fan base in the US to boost sales.
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