Restaurant Winners and Losers: Buffalo Wild Wings

Updated from 3:00 p.m. ET

Shares of several restaurant companies climbed Thursday after reporting mostly better-than-expected financial results despite a dismal environment for consumers.

Shares of Buffalo Wild Wings (BWLD Quote) shares closed up the most, rising $7.51, or 34.3%, to $29.42.

The company reported its fiscal fourth quarter earnings Wednesday night, beating Wall Street analysts' profit estimates by 4 cents per share with strong same-store sales growth of 4.5% at company-owned restaurants.

The company also said its same-store sales, or sales at stores open at least a year, to date in the first quarter have jumped 8% at company-owned restaurants, helped by the Super Bowl and the NFL playoffs.

Buffalo Wild Wings said it still expects to post earnings growth between 20% and 25% in fiscal 2009.

Standard & Poor's analyst Mark Basham said the company's profit growth in the quarter was "solid, with no reliance on gimmicks" such as more gift card redemptions or sudden changes in the tax rate which can both boost earnings.

Chipotle Mexican Grill(CMG Quote) also reported better-than-anticipated profit after the market closed Wednesday. The company said its fourth-quarter earnings slipped 3%, but it still beat Wall Street estimates by 3 cents per share.

Chipotle shares jumped $5.83, or 12.3%, to $53.25.

Same-store sales at Chipotle grew 3.5% for the quarter, but much of that growth came from higher menu prices and not more guests.

Most restaurants are struggling to keep sales growing as consumers continue to cut back on spending due to the recession. Many companies, also faced with higher commodity and fuel costs in the past year, have raised menu prices to try to protect profit. The higher prices help increase revenue but can also depress traffic since many customers are looking for the lowest price.

At P.F. Chang's China Bistro(PFCB Quote), fourth-quarter profit -- which the company also reported Wednesday -- beat Wall Street's estimates by 5 cents per share even as net income dropped 23% on charges from closing underperforming stores.

But the company's same-store sales fell 7.1% at Bistro restaurants and 6.1% at the Pei Wei chain because of declining traffic.

Thomas Weisel Partners analyst Fitzhugh Taylor said in a note to investors that the company's new promotion of a four-course meal for two for $39.95 may help boost traffic in future quarters.

"This price point suggests a strong value that management hopes will draw new customers and entice repeat guests to expand their menu experience and try some additional items on the menu," he said.

Shares rose $1.47, or 8.2%, to $19.39.