(Restaurant Losers article updated with Buffalo Wild Wings earnings.)
NEW YORK (
are tanking, following disappointing outlooks out of the sector.
Buffalo Wild Wings
is one of the biggest losers of the day, plunging 18.7% to $41.48 in afternoon trading.
The company said on Tuesday that while its first-quarter profit climbed 24%, comparable sales in April weakened, raising doubts about its ability to meet its prior forecast of a 20% surge in 2010.
Comparable sales in April for Buffalo Wild Wings fell more than 2% at both company-owned and franchised locations.
Buffalo Wild Wings said it earned $10.6 million, or 58 cents a share, a penny above consensus.
is also declining, by 6.6% to $80.39, as its second-quarter forecast fell short of expectations -- a fact that is overshadowing what was a successful first-quarter for the company.
Panera said on Tuesday that it expects second-quarter earnings between 81 cents and 83 cents a share. This compares with Wall Street's guidance of 84 cents a share.
Still, during the first quarter, the company nearly doubled its profit, as comparable sales jumped 10%.
P.F. Chang's China Bistro
is also tumbling, after it reported today lower-than-predicted first-quarter earnings, hurt by aggressive discounting. It too provided a weak 2010 forecast.
During the quarter profit fell to $8.7 million, or 38 cents a share, from $13.3 million, or 56 cents a share, a year earlier. Analysts expected earnings of 48 cents a share.
Revenue inched up slightly to $310.4 million, but it too just missed estimates of $310.6 million.
Looking ahead, P.F. Chang's expects to earn $2 in 2010, just shy of analysts' forecast of $2.03 a share.
Shares of P.F. Chang's are dropping 3.4% to $44.87 in afternoon trading.
The Cheesecake Factory
issued second-quarter guidance that missed estimates when it reported its first-quarter earnings last week.
The company said it is looking for second-quarter earnings between 34 cents and 36 cents a share, while analysts are expecting a profit of 38 cents a share.
During the first-quarter, however, profit soared 87% to $18.7 million, or 31 cents a share, significantly higher than the 5 cents predicted by analysts.
The Cheesecake Factory is currently being dragged down 5.9% to $27.80.
is decreasing 4.7% to $20.64 ahead of its first-quarter earnings report, which is scheduled to be released on Thursday.
Analysts expect the fast-food chain will post a lower profit from last year, even though sales trends have improved. Wall Street is calling for earnings of 29 cents a share on revenue of $598 million.
last week reported profit of $1.03 a share, higher than the 96 cents analysts forecast. The fast-food giant received a boost from its coffee business, after introducing new lower-priced frappes during the quarter.
Revenue shot up 10.5% to $5.61 billion, while sales at restaurants open at least a year grew 4.2%. Same-store sales in the U.S. increased 1.5%.
Other notable decliners include
, which is falling 1% to $42.35,
, which is slipping 2.6% to $5.17,
, which is spiraling 6.4% to $14.56 and
, which is losing 3.2% to $19.
-- Reported by Jeanine Poggi in New York.
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