Buffalo Wild Wings will test restructuring with sale of about 60 company-owned outlets
Buffalo Wild Wings Inc. executives said Tuesday they would sell a portion of its company-owned restaurants, a step sought by an activist investor, as part of a broader response to a leveling of growth.
The news came as the company reported that its fourth-quarter profit fell 38 percent, well below expectations, due to a decline in sales at comparable restaurants and a sharp jump in the cost of chicken wings, the main item on the chain’s menu.
In discussing the results with investors and analysts on a conference call, executives announced they are exploring the sale of about 10 percent of the chain’s 631 company-owned restaurants to franchisees. . . . more