Buffalo Wild Wings 2015 Annual Report Download - page 17

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Our quarterly operating results may fluctuate due to the timing of special events and other factors, including the
recognition of impairment losses.
Our quarterly operating results depend, in part, on special events, such as the Super Bowl® and other sporting events
viewed by our guests in our Buffalo Wild Wings restaurants such as the NFL, MLB, NBA, NHL, and NCAA. Interruptions in
the viewing of these professional and collegiate sporting league events due to strikes, lockouts, or labor disputes may impact
our results. Additionally, our results are subject to fluctuations based on the dates of sporting events and their availability for
viewing through broadcast, satellite and cable networks. Historically, sales in most of our restaurants have been higher during
fall and winter months based on the relative popularity and extent of national, regional and local sporting and other events.
Further, our quarterly operating results may fluctuate significantly because of other factors, including:
• Fluctuations in food costs, particularly chicken wings;
• The timing of new restaurant openings, which may impact margins due to the related preopening costs and
initially higher restaurant level operating expense ratios;
• Potential distraction or unusual expenses associated with our expansion into international markets;
• Our ability to operate effectively in new markets domestically and internationally in which we or our
franchisees have limited operating experience;
• Labor availability and costs for hourly and management personnel;
• Changes in competitive factors;
• Disruption in supplies;
• General economic conditions, consumer confidence, and fluctuations in discretionary spending;
• Claims experience for self-insurance programs;
• Increases or decreases in labor or other variable expenses;
• The impact of inclement weather, natural disasters, and other calamities;
• Fluctuations in interest rates;
• The timing and amount of asset impairment loss and restaurant closing charges; and
• Tax expenses and other non-operating costs.
As a result of the factors discussed above, our quarterly and annual operating results may fluctuate significantly.
Accordingly, results for any one quarter are not necessarily indicative of results to be expected for any other quarter or for any
year. These fluctuations may cause future operating results to fall below the expectations of securities analysts and
shareholders. In that event, the price of our common stock could decrease.
We may not be able to attract and retain qualified Team Members and key executives to operate and manage our
business.
Our success and the success of our individual restaurants and business depends on our ability to attract, motivate,
develop and retain a sufficient number of qualified key executives and restaurant employees, including restaurant managers,
and hourly Team Members. The inability to recruit, develop and retain these individuals may delay the planned openings of
new restaurants or result in high employee turnover in existing restaurants, thus increasing the cost to efficiently operate our
restaurants. This could inhibit our expansion plans and business performance and, to the extent that a labor shortage may force
us to pay higher wages, harm our profitability. The loss of any of our key executive officers could jeopardize our ability to meet
our financial targets.