Welcome to our dedicated page for Wingstop news (Ticker: WING), a resource for investors and traders seeking the latest updates and insights on Wingstop stock.
Wingstop Inc. (NASDAQ: WING) is a leading American restaurant chain specializing in indulgent chicken wings, offering both bone-in and boneless options, along with chicken tenders, fries, and a recently introduced range of chicken sandwiches. Founded in 1994 in Garland, Texas, and now headquartered in Dallas, Wingstop has grown exponentially to operate and franchise over 2,200 locations worldwide. The company prides itself on its unique flavors, with a menu that includes 11 bold and distinctive flavors, complemented by signature sides like fresh-cut seasoned fries and freshly-made ranch and bleu cheese dips.
Wingstop's business model is predominantly franchise-based, with approximately 98% of its restaurants franchised. This model allows Wingstop to generate substantial revenue from franchise royalties and advertising fees, while maintaining a lean operation with a small footprint of company-owned stores. By the end of 2023, Wingstop had become the 31st-largest restaurant brand in the U.S. by system sales.
The company has enjoyed continuous growth, marked by the impressive milestone of reaching $2.7 billion in system-wide sales in fiscal year 2022—a 16.8% increase from the previous year. Wingstop has achieved 20 consecutive years of same store sales growth, demonstrating the strength and consistency of its business model. This success is driven by a commitment to delivering flavor and an unparalleled guest experience, further supported by a best-in-class technology platform.
In 2023, Wingstop continued its upward trajectory with significant achievements. The company announced a new share repurchase program authorized to buy up to $250 million of its outstanding shares, reflecting its solid financial health and commitment to returning capital to shareholders. Wingstop's global restaurant development strategy remains robust, with a vision to become a Top 10 Global Restaurant Brand. The brand's expansion includes not only domestic growth but also international markets, with a footprint that spans both company-owned and franchised restaurants.
Wingstop's dedication to its core values—Authentic, Entrepreneurial, Service-minded, and Fun—is evident in its operational ethos, known as The Wingstop Way. This value system extends to its environmental, social, and governance (ESG) initiatives, aiming to provide value to all guests and maintain a strong community presence through Wingstop Charities.
Recent accolades highlight Wingstop's industry standing. The company earned its
Wingstop (NASDAQ: WING) has announced a $500 million expansion of its share repurchase program, following the completion of its initial $250 million authorization from August 2023. The company plans to execute a $250 million accelerated share repurchase program in Q4 2024.
Since its 2015 IPO, Wingstop has returned over $1 billion of capital to shareholders. The company will fund the repurchases using existing cash and proceeds from a recently completed $500 million financing transaction that closed on December 3, 2024. The repurchases may be conducted through open market transactions, private negotiations, or other means, with timing and amount determined by market conditions and other factors.
Wingstop (NASDAQ: WING) has announced plans for a new securitized financing transaction. The company intends to issue $500 million of new securitized notes, complementing its existing Series 2022-1 and Series 2020-1 Fixed Rate Senior Notes. Additionally, Wingstop plans to increase its variable funding note facility capacity from $200 million to $300 million. The proceeds will be used for transaction fees, strengthening liquidity, and general corporate purposes, including potential stock repurchases. Currently, there are no outstanding borrowings under the existing variable note funding facility. The transaction is expected to close in Q4 2024, subject to market conditions.
Wingstop reported strong fiscal Q3 2024 results with system-wide sales increasing 39.4% to $1.2 billion. The company achieved record growth with 106 net new openings and 17.1% unit growth. Domestic same-store sales rose 20.9%, primarily driven by transaction growth. Total revenue increased 38.8% to $162.5 million, while net income grew 31.9% to $25.7 million. Digital sales represented 69.0% of system-wide sales. The company reiterated guidance of approximately 20% domestic same-store sales growth for fiscal year 2024 and updated its global net new units target to 320-330.
Wingstop (NASDAQ: WING) has become the Official Chicken Partner of the NBA and NBA G League in a multiyear partnership, marking its first official partnership with a major U.S. professional sports league. With over 2,350 restaurants, Wingstop will gain media exposure through virtual and courtside signage during nationally televised NBA broadcasts and across league social platforms. The partnership includes a presence at NBA All-Star events, starting with NBA All-Star 2025 in San Francisco, where Wingstop will be the presenting partner of the Ruffles NBA All-Star Celebrity Game Green Carpet. The company already maintains partnerships with several NBA teams, including the Chicago Bulls, Detroit Pistons, Los Angeles Lakers, Milwaukee Bucks, and New York Knicks.
Wingstop is launching a month-long initiative in October to benefit St. Jude Children's Research Hospital. Customers can round up their checks on Wingstop.com or the Wingstop app to the nearest dollar, with 100% of donations supporting St. Jude's mission to find cures and save children. The initiative coincides with National Children's Health Day.
Donations will help fund St. Jude's research to cure childhood cancer and ensure that families impacted by pediatric cancer do not receive bills for treatment, travel, housing, or food. Wingstop's President & CEO, Michael Skipworth, emphasized the company's commitment to giving back as their business continues to grow.
Wingstop Inc. (NASDAQ: WING) has announced that it will host a conference call and webcast to discuss its fiscal third quarter 2024 financial results on Wednesday, October 30, 2024 at 10:00 a.m. ET. A press release with the financial results will be issued before the market opens that morning.
Interested parties can join the conference call by dialing 1-877-259-5243 or 1-412-317-5176 (international) and asking for the Wingstop conference call. A replay will be available two hours after the call until Wednesday, November 6, 2024, accessible by dialing 1-877-344-7529 or 1-412-317-0088 (international) with the replay code 2235392.
The conference call will also be webcast live and archived on the investor relations section of Wingstop's corporate website at ir.wingstop.com under the 'News & Events' section. The webcast can be accessed directly at https://event.choruscall.com/mediaframe/webcast.html?webcastid=dBRZsHLJ.
Wingstop (NASDAQ: WING) has introduced a new -time offer (LTO) flavor called Sweet BBQ Blaze, available nationwide from August 26, 2024. This innovative flavor combines elements of Kansas City and Nashville BBQ styles, featuring a dry rub seasoning over a wet sauce. The result is a sweet, smoky, and unexpected taste experience.
Sweet BBQ Blaze can be applied to Wingstop's cooked-to-order wings, chicken sandwiches, and tenders. Chief Brand Officer Melissa Cash emphasizes that this new flavor 'turns BBQ on its head' and offers a unique spin on a classic. The timing of the release coincides with the start of football season, making it an ideal option for watch parties and tailgates.
Wingstop Inc. (NASDAQ: WING) reported strong fiscal Q2 2024 results, with system-wide sales up 45.2% to $1.2 billion. The company saw 28.7% growth in domestic same-store sales, driven primarily by increased transactions. Total revenue rose 45.3% to $155.7 million, while net income surged 69.9% to $27.5 million. Wingstop opened 73 net new restaurants, bringing its total to 2,352 locations worldwide. The company's domestic average unit volume (AUV) reached $2.0 million, a target achieved two years ahead of schedule. Based on these results, Wingstop updated its 2024 guidance, projecting approximately 20% domestic same-store sales growth and 285-300 global net new units.
Wingstop (NASDAQ: WING) is expanding its global presence with a pop-up restaurant called 'House of Flavor' in Paris, open from July 27 to August 10, 2024. This marks the beginning of larger growth plans, with potential for over 200 Wingstop restaurants in France. The pop-up, located at La Caserne, is expected to attract over 50,000 visitors with free wings, fries, and ranch.
The 'House of Flavor' will feature various events including basketball showdowns, dance performances, DJ sets, fashion experiences, and art installations. Meanwhile, in the U.S., Wingstop is offering the Summer of Flavor Bundle for $24.99, which includes 25 boneless wings, fries, Cajun Corn, dips, and drinks.
This expansion aligns with Wingstop's mission to 'Serve the World Flavor' and its goal to become a Top 10 Global Restaurant Brand.
Wingstop (NASDAQ: WING) has made its popular Hot Honey Rub flavor a permanent menu item. This decision follows enthusiastic support from fans, celebrities, and athletes, including basketball star Giannis Antetokounmpo. The Hot Honey Rub, a sweet and spicy dry rub, has been a top-performing -time offer (LTO) flavor since its debut in 2022. It will now be available nationwide on classic and boneless wings, tenders, and the chicken sandwich. Wingstop's Chief Brand Officer, Melissa Cash, highlighted the overwhelming demand and fanfare as key reasons for this permanent addition.
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