Buffalo Wild Wings is blaming the National Football League for a slowdown in business

Looking ahead to the fourth quarter, Buffalo Wild Wings executives are placing the blame not on the National Football League, but on holiday festivities, forcing the company to revise 2015 net earnings goal from 13% to single-digits.

Shares fell 11.6% to $163.01 in after-hours trading.

Let’s dig in to see what happened.

During the three months ending in September, the chicken wing chain reported $455.5 million in sales, which was less than the $466.8 million expected by analysts. Same-store sales climbed 3.9% at company-owned locations, and 1.2% at franchised locations.

At the same time, Buffalo Wild Wings CEO Sally Smith was quick to point out that this growth occurred despite a shift in the sports calendar, which resulted in one less week of football and fewer pay-per-view events than in the same year-ago period. Revenue at the 41 locations acquired was negative, for instance, and while that has not impacted same-store sales, “the revenue is a little lower than we wanted to be acquiring them at”. Even so, keep in mind that’s another sequential deceleration from last quarter’s 26% year-over-year increase. The company has rolled out a new host position at its restaurants – which adds to costs – and is coping with tight labor markets, which drive up wages.

Currently, the analyst consensus on Buffalo Wild Wings is Moderate Buy and the average price target is $207.43, representing a 17.4% upside.

Analysts, on average, were anticipating revenue of $465 million, and earnings of $1.29 per diluted share.

For the first four weeks of the fourth quarter, same-store sales were up 2.8% at company-owned restaurants and 0.8% at franchised sites.

To their credit, Buffalo Wild Wings did offer a light at the end of the tunnel with a preliminary look at 2016. Combined with the modest early stage expansion of Buffalo Wild Wings’ complementary R Taco and PizzaRev concepts, and the company’s operational and sales-driving initiatives, 2016 net earnings are expected to exceed 20%.

The article Why Buffalo Wild Wings Stock Dropped Today originally appeared on Fool.com.