Strapped consumers are haunting retailers, but not all of them. These mid-tier companies are thriving in tough times through cost-cutting and innovative marketing.
While most casual dining establishments reported dismal sales this summer, the Minneapolis chicken wings and beer chain took flight. The company's 2Q net income increased 46%, and same-store sales (revenues at locations that have been open for at least a year) rose 8.3% at corporate-owned restaurants. Lynne Collier, an analyst at KeyBanc Capital Markets, pinned Buffalo Wild Wings' surprising success on factors including careful expense management and low-cost chicken. Buffalo Wild Wings could score even higher next quarter: The NFL season, a lucrative period for the sports bar and grill, is just getting started.
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