Buffalo Wild Wings 2014 Annual Report Download - page 32

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31
The number of company-owned and franchised restaurants open are as follows:
As of
Dec 28,
2014 Dec 29,
2013 Dec 30,
2012
Total Company-owned restaurants 491 434 381
Total Franchised restaurants 591 559 510
The restaurant sales for company-owned and franchised restaurants are as follows (amounts in thousands):
Fiscal Years Ended
Dec 28,
2014 Dec 29,
2013 Dec 30,
2012
Company-owned restaurant sales $ 1,422,990 1,185,351 963,963
Franchised restaurant sales 1,858,116 1,619,526 1,510,020
Increases in comparable same-store sales are as follows (based on restaurants operating at least fifteen months):
Fiscal Years Ended
Dec 28,
2014 Dec 29,
2013 Dec 30,
2012
Company-owned same-store sales 6.5% 3.9% 6.6%
Franchised same-store sales 5.6% 3.3% 6.5%
The annual average prices paid per pound for chicken wings for company-owned Buffalo Wild Wings restaurants are as
follows:
Fiscal Years Ended
Dec 28,
2014 Dec 29,
2013 Dec 30,
2012
Average price per pound $ 1.55 1.76 1.97
The following comparison of 2014 to 2013 includes results of operations of Buffalo Wild Wings and Emerging Brands
restaurants. Any impact from our Emerging Brands is immaterial unless separately noted. There were no Emerging Brands
restaurants in fiscal years 2013 or 2012.
Fiscal Year 2014 Compared to Fiscal Year 2013
Restaurant sales increased by $237.6 million, or 20.0%, to $1.4 billion in 2014 from $1.2 billion in 2013. The increase in
restaurant sales was due to a $167.3 million increase associated with 63 company-owned restaurants that opened or were
acquired in 2014 and the company-owned restaurants that opened or were acquired before 2014 and did not meet the criteria
for same-store sales for all, or part, of the year. A same-store sales increase of 6.5% accounted for $70.3 million of the increase
in restaurant sales.
Franchise royalties and fees increased by $11.9 million, or 14.6%, to $93.2 million in 2014 from $81.4 million in 2013.
The increase was primarily due to royalties related to additional sales at 25 more franchised Buffalo Wild Wings restaurants in
operation at the end of the year compared to the prior year, and an increase in same-store sales for franchised restaurants of
5.6% in 2014.
Cost of sales increased by $50.1 million, or 13.8%, to $413.9 million in 2014 from $363.8 million in 2013, due primarily
to more restaurants being operated in 2014. Cost of sales as a percentage of restaurant sales decreased to 29.1% in 2014 from
30.7% in 2013. Cost of sales as a percentage of restaurant sales decreased primarily due to lower chicken wing prices and the
rollout of Wings by Portion. In 2014, chicken wings averaged $1.55 per pound, which was a 11.9% decrease compared to 2013.