Buffalo Wild Wings, Inc. (NASDAQ: BWLD), announced today financial results for the second quarter ended June 27, 2010. Highlights for the second quarter versus the same period a year ago were:
Total revenue increased 12.4% to $145.7 million
Company-owned restaurant sales grew 11.7% to $131.5 million
Same-store sales decreased 0.1% at company-owned restaurants and 0.7% at franchised restaurants
Net earnings increased 31.4% to $9.2 million from $7.0 million, and earnings per diluted share increased 28.2% to $0.50 from $0.39
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Wednesday, July 28, 2010
Chinese Government approves Cable Beach (Bahamas) project
THE Government of the People’s Republic of China yesterday formally approved the $2.6 billion investment in the Baha Mar project on Cable Beach, bringing an end to speculation on the viability of the resort development.
In a statement from the Cabinet office yesterday, Prime Minister Hubert Ingraham confirmed that His Excellency Dingxian Hu, the Ambassador of the People’s Republic of China, had advised that his government has given formal approval for “various agencies of the Chinese government to enter into a joint venture with Baha Mar Ltd for the redevelopment of Cable Beach.”
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In a statement from the Cabinet office yesterday, Prime Minister Hubert Ingraham confirmed that His Excellency Dingxian Hu, the Ambassador of the People’s Republic of China, had advised that his government has given formal approval for “various agencies of the Chinese government to enter into a joint venture with Baha Mar Ltd for the redevelopment of Cable Beach.”
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Eurazeo Gets At Least Three Final Bids For B&B Hotels
LONDON (Dow Jones)--French private equity firm Eurazeo SA (RF.FR) has received at least three final bids for its B&B budget hotel chain, people familiar with the situation told Dow Jones Newswires Wednesday.
Buyout companies PAI Partners, Carlyle Group and Bridgepoint submitted bids by Monday's deadline, the people said. It is unclear whether LBO France and U.S. hotel and real estate company Starwood Capital, which were previously interested, participated in the final round.
Eurazeo has hired Rothschild to run the sale which includes 181 hotels in France, 32 in Germany and three in Italy. The company had EUR202 million in revenue last year and earnings before interest, taxes, depreciation and amortization are estimated at around EUR46 million for 2010.
The business was put on the market for EUR450 million but bids could come in at up to EUR500 million, one person said
Buyout companies PAI Partners, Carlyle Group and Bridgepoint submitted bids by Monday's deadline, the people said. It is unclear whether LBO France and U.S. hotel and real estate company Starwood Capital, which were previously interested, participated in the final round.
Eurazeo has hired Rothschild to run the sale which includes 181 hotels in France, 32 in Germany and three in Italy. The company had EUR202 million in revenue last year and earnings before interest, taxes, depreciation and amortization are estimated at around EUR46 million for 2010.
The business was put on the market for EUR450 million but bids could come in at up to EUR500 million, one person said
Wyndham Worldwide Reports Second Quarter 2010 Earnings Results
HIGHLIGHTS:
Second quarter 2010 diluted earnings per share (EPS) was $0.51, compared with Company-issued guidance of $0.38 – $0.42 and $0.39 in the second quarter of 2009.
Free cash flow, which the Company defines as net cash from operations less capital expenditures, equity investments and development advances, increased 32% to $486 million in the first half of 2010, compared with $368 million during the same period in 2009.
The Company's Board of Directors authorized an increase to the current share repurchase program by $300 million. For the quarter, the Company repurchased approximately 2.2 million shares of its common stock at an average price of $24.33.
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Second quarter 2010 diluted earnings per share (EPS) was $0.51, compared with Company-issued guidance of $0.38 – $0.42 and $0.39 in the second quarter of 2009.
Free cash flow, which the Company defines as net cash from operations less capital expenditures, equity investments and development advances, increased 32% to $486 million in the first half of 2010, compared with $368 million during the same period in 2009.
The Company's Board of Directors authorized an increase to the current share repurchase program by $300 million. For the quarter, the Company repurchased approximately 2.2 million shares of its common stock at an average price of $24.33.
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Construction progresses on Pittsburgh Hilton Hotel
The long-stalled Pittsburgh Hilton Hotel expansion, including installation of a third-floor swimming pool will celebrate its grand opening in less than a year, the new construction manager predicted Tuesday.
Frank Amedia, head of TC Solutions of Miami, walked the ground floor of the project yesterday with Comm Steel of Cleveland and its owner Robert Ciofani, giving the new construction timetable. Comm Steel is fabricating the project's steel and will be erecting the girders when delivered.
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Frank Amedia, head of TC Solutions of Miami, walked the ground floor of the project yesterday with Comm Steel of Cleveland and its owner Robert Ciofani, giving the new construction timetable. Comm Steel is fabricating the project's steel and will be erecting the girders when delivered.
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Business Travel Bolsters Wyndham
Wyndham Worldwide reported better-than-expected results Wednesday with net income of $95 million, or 51 cents per share, versus $71 million, or 39 cents per share a year ago. The results, which exclude a one-time charge of $1 million from an acquisition of the Tryp hotel brand, exceeded the company's anticipated EPS of 38 cents to 42 cents for the second quarter. Revenues totaled $963, up from $920 last year.
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