Buffalo Wild Wings, Inc. Announces Second Quarter 2009 Results.

- Same-store sales increases of 2.8% at company-owned and 3.7% at franchised restaurants -

- Earnings per diluted share increase of 25.8% to $0.39 -

MINNEAPOLIS -- Buffalo Wild Wings, Inc. (NASDAQ: BWLD), announced today financial results for the second quarter ended June 28, 2009. Highlights for the second quarter versus the same period a year ago were:

* Total revenue increased 32.4% to $129.6 million

* Company-owned restaurant sales grew 34.6% to $117.8 million

* Same-store sales increased 2.8% at company-owned restaurants and 3.7% at franchised restaurants

* Net earnings increased 24.2% to $7.0 million from $5.6 million, and earnings per diluted share increased 25.8% to $0.39 from $0.31

Sally Smith, President and Chief Executive Officer, commented, "We're very pleased with our ongoing success and the strong second quarter results. Our revenue growth of 32.4% produced impressive net earnings growth of 24.2% over the same period in the prior year, achieving earnings per diluted share of $0.39. With the unsettling and ever-changing economic backdrop, our results are testament that we provided our Guests with an unparalleled dining experience and that Team Members at all levels of our organization were tenacious in delivering strong operational and financial performance."

Total revenue increased 32.4% to $129.6 million in the second quarter compared to $97.9 million in the second quarter of 2008. Company-owned restaurant sales for the quarter increased 34.6% over the same period in 2008, to $117.8 million driven by a company-owned same-store sales increase of 2.8% and 46 additional company-owned restaurants in operation at the end of second quarter 2009 relative to the same period in 2008. Franchise royalties and fees increased 14.0% to $11.9 million versus $10.4 million in the second quarter of 2008. This increase was the result of a franchised same-store sales increase of 3.7% and 37 additional franchised restaurants at the end of the period versus a year ago.

Average weekly sales for company-owned restaurants were $42,938 for the second quarter of 2009 compared to $40,572 for the same quarter last year, a 5.8% increase. Franchised restaurants averaged $48,619 for the period versus $46,390 in the second quarter a year ago, a 4.8% increase.

For the second quarter, net earnings increased 24.2% to $7.0 million versus $5.6 million in the second quarter of 2008. Earnings per diluted share were $0.39, as compared to second quarter 2008 earnings per diluted share of $0.31.

2009 Outlook

Ms. Smith continued, "We're heading into our favorite time of the year - football season! We're investing in our brand with enhanced facilities, craveable new products, and expanded national media campaigns, and our Operations Team is prepared to deliver the You Have To Be Here[R] experience to our Guests."

Ms. Smith concluded, "We continue on pace to meet each of our 2009 annual goals of 15% unit, 25% revenue, and 20 to 25% net earnings growth. Since going public nearly six years ago, you've heard us speak about our goal of becoming a restaurant chain of 1,000 units in the United States, which we believe we will achieve in 2013. We continue expansion into all fifty states, which will include small towns and urban markets, and development of nontraditional sites such as airports. With the groundwork underway for international development, this 1,000-unit goal is a stepping stone on our way to becoming a global brand."

Buffalo Wild Wings will be hosting a conference call today, July 27, 2009 at 4:00 p.m. Central Daylight Time to discuss these results. There will be a simultaneous webcast conducted at our website www.buffalowildwings.com.

A replay of the call will be available until August 3, 2009. To access this replay, please dial 1.303.590.3030, password 4116719.

About the Company

Buffalo Wild Wings, Inc., founded in 1982 and headquartered in Minneapolis, Minnesota, is a growing owner, operator and franchisor of restaurants featuring a variety of boldly-flavored, made-to-order menu items including Buffalo-style chicken wings spun in one of 14 signature sauces. Buffalo Wild Wings is an inviting neighborhood destination with widespread appeal and is the recipient of dozens of "Best Wings" and "Best Sports Bar" awards from across the country. There are currently 601 Buffalo Wild Wings locations across 41 states.

Forward-looking Statements 

Certain statements in this release that are not historical facts are forward-looking statements that involve risks and uncertainties. These statements include, without limitation, those relating to our projected unit, revenue and earnings growth rates for 2009 and beyond, the projected timeline for and nature of our expansion activities, and our anticipated marketing activities. Forward-looking statements are based upon the current beliefs and expectations of our management. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, the actual number of locations opening in the future, the sales at these and our other company-owned and franchised locations, our ability to successfully operate in new markets, unforeseen obstacles in developing nontraditional sites, the cost of commodities, the success of our marketing and other initiatives, our ability to control restaurant labor and other restaurant operating costs, economic conditions (including changes in consumer preferences or consumer discretionary spending), the availability of financing to real estate developers and franchisees, competition, the impact of applicable regulations, and other factors disclosed from time to time in our filings with the U.S. Securities and Exchange Commission. 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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(1) Includes stock-based compensation of $1,689, $904, $2,490, and $1,924, respectively

The following table expresses results of operations as a percentage of total revenue for the periods presented, except for restaurant operating costs which are expressed as a percentage of restaurant sales:

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