Buffalo Wild Wings to Spend $19 Million on New Restaurants

Minneapolis-Buffalo Wild Wings Inc. plans to spend $19 million in 2004 to open new restaurants and renovate old ones. In its annual report, filed with the Securities and Exchange Commission on Friday, the restaurant chain said it spent $10.7 million on its restaurant sites in 2003.

The company owned or franchised 245 Buffalo Wild Wings Grill & Bar restaurants in 29 states, of which 84 were company-owned and 161 were franchised. In 2004, it expects to open 20 company-owned and 45 franchised sites.

In its annual report, the company predicted its concept can support over 1,000 restaurants in the United States. The company reported earnings of $3.6 million, or 55 cents per diluted share, on revenue of $126.5 million in 2003. -Minneapolis/St. Paul Business Journal