Buffalo Wild Wings profit misses estimates, shares down

Tue Oct 23, 2012 4:35pm EDT

Oct 23 (Reuters) - U.S. casual dining chain Buffalo Wild Wings Inc reported a lower-than-expected quarterly profit on high costs related to store openings, sending its shares down 11 percent after the bell.

Third-quarter profit fell to $10.7 million, or 57 cents per share, from $11.3 million, or 61 cents per share, a year earlier.

The company, which operates more than 850 restaurants in the United States and Canada, said sales rose 25 percent to $246.9 million.

Analysts on average had expected earnings of 60 cents per share on revenue of $253.9 million, according to Thomson Reuters I/B/E/S.

Shares of the Minneapolis, Minnesota-based company fell to $74.30 in extended trade after closing at $83.46 on Tuesday on the Nasdaq.

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