How many chicken wings did you sell on Super Bowl?
Smith: I can tell you what we sold last year, we're still waiting for the numbers to come in from Sunday. Last year we sold 8.8 million. We do know that with more locations and positive same-store sales we expect that that number will increase over prior year and its always a big takeout day for us as well as in-restaurant. Last year takeout was 45% of our sales and we'll have a little bit more color on that hopefully the by the end of the week.
Are you feeling the pressure from fast-casual chains like Chipotle (CMG)? Is the full service dining model still en vogue?
Smith: I do think there is still that occasion [dining]. I think that fast casual has done a really nice job of providing some other opportunities maybe [when] you don't want to take quite as much time. But I can't really answer what the competition are doing. I think our occasion is perhaps a little bit different in that you're not going to get that same experience in a fast-casual restaurant. I mean if you're going to go watch a sporting event or get together with friends and family, which is what our guests tell us they like to use Buffalo Wild Wings for, I don't know that you're going to get that same feel [at] fast casual.You spoke on the call about potential investments by Buffalo Wild Wings in additional concepts and later talked about preferring fast-casual concepts? Why fast casual? Smith: As we look at the segment -- quick service, fast casual, casual and fine dining -- we don't really have experience in quick service or fine dining and it doesn't meet our parameters in terms of ease of kitchen -- that kind of thing so it leaves fast casual and casual dining. If we saw the right small casual dining we'd certainly take a look at that. It just seems that more of the emerging brands happening today tend to be a little bit more in that fast-casual arena. We're always looking and as soon as we have a deal we're certainly going to announce it.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV