Restaurants

Buffalo Wild Wings shares tumble on earnings miss

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Buffalo Wild Wings misses estimates by a lot

Buffalo Wild Wings' stock traded sharply lower Wednesday after the company reported profit and sales that missed analysts' expectations.

The restaurant chain posted earnings per share of $1 on revenue of $456 million for its fiscal third quarter. Analysts expected Buffalo Wild Wings to post profit per share of $1.29 on revenue of $465 million.

The company's stock fell more than 14 percent in after-hours trading. (Click here to see where the shares are trading now.)

Buffalo Wild Wings' forward-looking guidance also came in weaker than expected, with management citing a shift in the calendar that has led to one week less of football and fewer pay-per-view events.

"We estimate this negatively impacted our same-store sales by 80 basis points. Cost of sales and labor as a percentage of restaurant sales were higher compared to the prior year," said Sally Smith, the company's CEO, in a statement.

"Based on our year-to-date results and updated outlook for the fourth quarter, we are now anticipating single-digit net earnings growth for the year," she said.

— CNBC's Seema Mody contributed to this report.