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Will management announce the elephant in the room on the earnings call next Tuesday?  They did not do so during a conference presentation three weeks ago. We believe they have to; at 20% of sales, the cost of bone-in chicken wings is too critical a factor for the company's EPS this year.  

BWLD: THE ELEPHANT IN THE RESTAURANT - chicken wings1

Howard Penney

Managing Director

Rory Green

Analyst