By Chris Chesky/Murphy News Service
Duke might have defeated Wisconsin to win the NCAA tournament Monday night, but Minneapolis-based Buffalo Wild Wings, thanks to its impressive financial success over the past month, just might be the biggest March Madness winner.
Buffalo Wild Wings stocks have gone up by nearly 28.31 percent in the last year and its stock prices have risen from as low as $122.15 to as high as $195.83, according to CNN Money. Sales were up more than 11 percent in January and customers purchased 11 million wings during The Super Bowl in February, according to Bloomberg Business.
What is their key to success? The atmosphere the restaurant creates.
“We consider ourselves to have 1,100 stadiums,” Ben Nelsen, Buffalo Wild Wings’ vice president for guest experience and innovation said to Bloomberg Business. “We want to have a piece not only of that food dollar but that entertainment dollar.”
Buffalo Wild Wings, commonly called B-Dubs by its customers, has more than 1,000 locations worldwide, according to Entrepreneur. The sports-centric restaurant is a popular spot for fans of any type of game or match, as every Buffalo Wild Wings is equipped with numerous televisions that show different sports events so that every fan can find what they desire to see.
The Buffalo Wild Wings near the University of Minnesota East Bank campus at 2001 SE University Ave. also experienced success throughout the Final Four, but the managers believe they could have been busier if the situation was different.
“It would have helped if the Gophers had made it into the tournament,” location manager Sammi Ladd said. “It wasn’t too crazy, but for the game being on a Monday night it was nice. Usually Monday nights are super slow and we were really busy.”
The location near the University of Minnesota may not have seen as many customers as other restaurants, but one thing is for certain. Buffalo Wild Wings’ business model isn’t only working, but it is helping push the restaurant past their closest competitors.
While the stock prices of Buffalo Wild Wings continue to soar, the stock prices of DineEquity, Inc., the company that owns Applebee’s, and Darden Restaurants Inc., owners of Olive Garden, Red Lobster, LongHorn Steakhouse, Bahama Breeze, and Seasons 52, have continued to fall, as they sit at $105.01 and $67.18 a share respectively, compared to Buffalo Wild Wings stock price of $182.68 on Thursday April 9.
Chris Chesky is studying journalism at the University of Minnesota.