Buffalo Wild Wings' Boneless Wings Are Such a Success Its Stock Is Up
The chicken-wing chain started offering boneless wings as part of its popular buy-one, get-one free special
Buffalo Wild Wings’ stock soared this week thanks to boneless wings.
Buffalo Wild Wings Inc. shares jumped more than 20 percent Wednesday after the food chain announced a successful third quarter due, largely, to its cheaper boneless wings and cost saving initiatives.
The chicken-wing chain started offering boneless wings as part of its popular buy-one, get-one free special on Tuesdays. They replaced the higher-cost regular, bone-in wings with the boneless ones — resulting in more savings.
Mid-day on Thursday, Buffalo Wild Wings stock was still up by around 20 percent.
“The recent Tuesday promotion shift from traditional to boneless wings at company-owned restaurants will continue to improve cost of sales while traditional wing prices remain elevated,” said Buffalo Wild Wings president and CEO Sally Smith in a statement.
The company saw higher revenue over the past few months than they did at the same time last year. Still, net earnings for Buffalo Wild Wings decreased by 19.7 percent compared to the same quarter last year.
Buffalo Wild Wings has initiated a number of cost-saving efforts, with the boneless special on Tuesdays perhaps the most successful. According to the company, prices for traditional wings had risen up to $2.16 per pound — about $0.44 per pound higher than it was at the same time last year.