"Sellers are coming out of the woodwork. Why? Because same-store sales declined," Cramer said on "Squawk on the Street" Wednesday. "I couldn't believe it. [They have] wing prices going the wrong way."
"It fell off a cliff," he said.
First-quarter earnings for the restaurant chain came in at $1.73 per share on revenue of $508.3 million. Analysts polled by Reuters expected the firm to post earnings per share of $1.78 on revenue of $530.3 million.