Strong same-store sales, the addition of 46 company-owned locations from a year earlier, and a 4.4-percent improvement in cost of goods sold powered a 72.9-percent increase in net income for Buffalo Wild Wings Inc. during the first quarter ended March 30. The Minneapolis-based operator of 1,012 casual-dining restaurants said sales picked up momentum in February and March during the Winter Olympics and the March Madness college basketball season.
1Q NET INCOME
Result: $28.3 million, or $1.49 per share% Increase: 72.9% (from $16.4 million, or 87 cents per share)
1Q REVENUE
Result: $367.9 million% Increase: 20.9% (from $304.4 million)
1Q SAME-STORE SALES
% Increase at company-owned units: 6.6%
% Increase at franchised units: 5.0%
Source: Company report
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