On another perspective, expect that analysts will come out in the next 3 hours recommending you to buy on weakness and that all is still in good working order despite a top/bottom miss and 20% growth expected.
If you actually looked at the conference call or simply followed it on twitter under $BWLD, you find there are more issues than initially thought. WingStop is gaining business while BWLD year over year actually saw a drop in comps as far as profit - small rise in revenue, but lower margins. While revenues increased due to food costs being passed to the consumer, profits fell because of lowered alcohol purchases. Simply put, the consumer ate wings and had 1-2 beers, not 3-4 because of the prices and economy.
They also admitted chicken wing prices are now 90% higher YOY, which puts them around $2/pound (1.97 in CC). This is likely going higher with corn and grain prices having spiked over the Summer which means price raising and slimmer alcohol margins (79% of sales) or leaving prices and again slimmer margins.
They are also looking to expand into another name brand...burgers or pizza or something. This is usually a blunder for most companies when they feel they need to diversify to find growth in an already saturated market.
While the business model is not dead and is profitable, there are concerns for justifying a 25+ PE.