=Buffalo Wild Wings (BWLD) reported earnings on Wed 26 July 2017 (a/h)

Buffalo Wild Wings misses by $0.39, misses on revs; lowers FY17 EPS below consensus; Q2 comps -1.2% (shares halted will resume 16:35 ET) :

• Reports Q2 (Jun) earnings of $0.66 per share, excluding non-recurring items, $0.39 worse than the Capital IQ Consensus of $1.05; revenues rose 2.0% year/year to $500 mln vs the $512.68 mln Capital IQ Consensus. Company-owned restaurant sales for the second quarter increased 1.9% over the same period in 2016 to $475.7 million, driven by 26 additional company-owned restaurants. Same-store sales decreased 1.2% at company-owned restaurants.
• Co issues lowered guidance for FY17, sees EPS of $4.50-5.00 from $5.45-5.90, excluding non-recurring items, vs. $5.28 Capital IQ Consensus Estimate. Co sees FY17 Same-store sales growth of approximately -1% to -2%
•  "As traditional chicken wing costs remain at historically high levels, we're adapting our value day on Tuesday to feature our boneless wings at company-owned restaurants. In addition, we continue to implement our cost savings plan to improve margins and profitability in areas we can control. Due to our disappointing second quarter earnings and an outlook for slowing traffic as we manage through the Tuesday promotional change, we are lowering our 2017 earnings outlook. We are optimistic about the transition to boneless wings which provides a more stable promotional platform for the future."