Buffalo Wild Wings’ stock took a major hit Thursday, the biggest drop in four years according to Bloomberg.On Wednesday, the stocks closed at $166.66, and by Thursday, the cost of a share dropped about 17 percent to $137.75.The popular chicken wing chain restaurant cut its profit forecast after missing analysts’ estimates. It was expected to increase profits by 13 percent this year but is now expecting that number to be in the single digits.”We had a challenging third quarter,” President and CEO Sally Smith said in an interview with Bloomberg. “…We saw a shift in some of the sporting events happening in September, a week less football, a week less pay-per-view. That and some pressure and some costs resulted in a miss on our earnings this quarter.”Last year, Week One of the NFL schedule fell on Sept. 4 as opposed to this year’s that fell on Sept. 10.”If you looked at September as a month, there were six days in which we didn’t have college or pro football when we did last year, and then also a UFC fight and a boxing match,” COO James M. Schmidt said in an earnings call according to Yahoo! Finance. “That really impacted both… Read full this story
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