Buffalo Wild Wings, Inc. Initiates $200 Million Share Repurchase Program
November 23 2015 - 7:30AM
Business Wire
Buffalo Wild Wings, Inc. (NASDAQ:BWLD), today announced that its
Board of Directors authorized a share repurchase program for up to
$200 million of the company's common stock. Purchases may be
completed from time to time in the open market or in privately
negotiated transactions, subject to applicable laws and
regulations. The company intends to fund the program with a
combination of cash and debt.
Sally Smith, president and chief executive officer, said, "The
authorization to repurchase Buffalo Wild Wings stock reflects the
strength of the Buffalo Wild Wings brand, our restaurant
operations, and our balance sheet. Our financial position allows us
to continue to make investments in Buffalo Wild Wings to support
our growth objectives, and now, return value to our shareholders
through a share repurchase agreement."
About the Company
Buffalo Wild Wings, Inc., founded in 1982 and headquartered in
Minneapolis, is a growing owner, operator and franchisor of Buffalo
Wild Wings® restaurants featuring a variety of boldly-flavored,
made-to-order menu items including its namesake Buffalo, New
York-style chicken wings. The Buffalo Wild Wings menu specializes
in 21 mouth-watering signature sauces and seasonings with flavor
sensations ranging from Sweet BBQ™ to Blazin’®. Guests enjoy a
welcoming neighborhood atmosphere that includes an extensive
multi-media system for watching their favorite sporting events.
Buffalo Wild Wings is the recipient of hundreds of "Best Wings" and
"Best Sports Bar" awards from across the country. There are
currently more than 1,140 Buffalo Wild Wings locations around the
world.
To stay up-to-date on all the latest events and offers for
sports fans and wing lovers, like Buffalo Wild Wings on Facebook,
follow @BWWings on Twitter and visit www.BuffaloWildWings.com.
Forward-looking Statements
Statements in this press release constitute forward-looking
statements for purposes of the Safe Harbor provisions under the
Private Securities Litigation Reform Act of 1995. These statements
relate to future purchases of shares and sources of funds for the
same. All statements other than statements of historical fact are
statements that could be deemed forward-looking statements and are
based upon the current beliefs and expectations of our management.
We have attempted to identify forward-looking statements by words
such as, “intends,” “may,” and other comparable terminology. Actual
results may vary materially from those contained in forward-looking
statements based on a number of factors, including, but not limited
to, our ability to achieve and manage our planned expansion, the
ability of our franchisees to open and manage new restaurants,
market acceptance in the new geographic regions we enter
(particularly non-U.S. locations), success of acquired restaurants,
success of investments in new or emerging concepts, unforeseen
obstacles in developing nontraditional sites or non-U.S. locations,
our ability to obtain and maintain licenses and permits necessary
to operate our existing and new restaurants, our franchisees’
adherence to our system standards, the cost of commodities such as
traditional chicken wings and supply chain consistency, the success
of our key initiatives and our advertising and marketing campaigns,
our ability to control restaurant labor and other restaurant
operating costs, the continued service of key management personnel,
our ability to protect our name and logo and other proprietary
information, economic conditions (including changes in consumer
preferences or consumer discretionary spending), the impact of
federal, state or local government regulations relating to our
employees, the sale of food and alcoholic beverages, the effect of
competition in the restaurant industry, and other factors disclosed
from time to time in our filings with the U.S. Securities and
Exchange Commission, including the factors described under “Risk
Factors” in Part I, Item 1A of our Annual Report on Form 10-K for
the fiscal year ended December 28, 2014, as updated in subsequent
reports filed with the SEC. Investors should take such risks into
account when making investment decisions. Shareholders and other
readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date on
which they are made. We undertake no obligation to update any
forward-looking statements.
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Buffalo Wild Wings, Inc.Heather Pribyl, 952-253-0731
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