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 Inc. (NASDAQ: WING) celebrates the opening of its 1,500th restaurant in Las Vegas, a significant milestone in its expansion strategy. This achievement follows the company’s adjustment of guidance for net new openings in 2020, increasing estimates from 120-130 to 135-140. With strong growth in its development pipeline and a goal of over 6,000 restaurants globally, Wingstop continues to thrive, having generated 62% of its sales through digital channels in Q3 2020. The company aims to solidify its position as a top 10 global restaurant brand.
Wingstop Inc. (NASDAQ: WING) reported strong financial results for Q3 2020, with system-wide sales up 32.8% to $509.2 million, and net income increasing 70.7% to $10.1 million, or $0.34 per diluted share. The company opened 43 new restaurants and saw domestic same-store sales grow by 25.4%. Additionally, a special dividend of $5.00 per share was approved, payable on December 3, 2020. The outlook includes 135-140 new openings for the year, enhancing its strong franchised business model.
Wingstop Inc. (NASDAQ: WING) announced a partnership with DoorDash to provide free delivery from October 30 to November 13 and again from November 27 to December 4 on orders via Wingstop.com and the app. This initiative follows a successful collaboration with DoorDash that began in 2017, expanding nationwide offerings after the pandemic shifted Wingstop's focus to off-premise dining. The brand reported digital sales making up 62.0% of total sales in the latest quarter, highlighting the growing importance of delivery services.
Wingstop Inc. (NASDAQ: WING) announced on October 8, 2020, an increase in its senior term notes offering from $400 million to approximately $480 million. This refinancing plan aims to strengthen liquidity and may include capital returns to shareholders. As of September 26, 2020, the Company had an outstanding balance of $317 million in senior term notes. The refinancing transaction, expected to close in Q4 2020, is subject to market conditions and may not be finalized. The proceeds from this offering will be used to pay off existing debts and transaction costs.
Wingstop reported strong preliminary results for Q3 2020, showcasing resilience amid industry challenges. Key highlights include a 25.4% increase in domestic same-store sales and a 32.8% rise in system-wide sales to approximately $509.2 million. The company opened 43 new restaurants globally, contributing to a total of 1,479 locations as of September 26, 2020. Digital sales surged to 62.0% of total revenue, underscoring a shift in consumer behavior. Wingstop will discuss these results in detail during a conference call on November 2, 2020.
Wingstop Inc. (NASDAQ: WING) announced its plan to refinance its existing securitized financing facility, targeting approximately $400 million in senior term notes and $50 million in senior variable funding notes. As of September 26, 2020, the outstanding balance was $317 million and $16 million respectively. The refinancing aims to repay existing debt, enhance liquidity, and is expected to close in Q4 2020, subject to market conditions. No assurance is given on the completion or the interest rate of the refinancing.
Wingstop reported strong financial results for Q2 2020, with system-wide sales up 37.0% to $509.0 million and total revenue increasing 36.1% to $66.1 million. The net income surged 134.6% to $11.5 million, or $0.39 per diluted share. Domestic same store sales grew 31.9% and Adjusted EBITDA rose 54.2% to $20.9 million. Wingstop also opened 23 new restaurants and plans to expand further, anticipating 120-130 net openings for the fiscal year. Additionally, the Board approved a 27% increase in the quarterly dividend to $0.14 per share.
Wingstop Inc. (NASDAQ: WING) has launched its first domestic ghost kitchen in Dallas, responding to the evolving dining habits due to COVID-19. The company shifted to 100% off-premise operations, showing resilience with a 33.4% increase in same-store sales in April 2020 and a 65% surge in digital sales. The ghost kitchen, under 400 sq. ft., will provide deliveries from a full menu, aligning with Wingstop's goal of digitizing 100% of transactions. The brand's digital channels accounted for 47% of sales as of March 2020.
Wingstop Inc. (NASDAQ: WING) has appointed Stacy Peterson Androes as Chief Technology Officer. She previously served in various technology roles, contributing to Wingstop's robust digital strategy. During her tenure, the brand achieved significant domestic same-store sales growth of 9.9% in Q1 2020 and over 33% in April. Digital orders surged to nearly 65% of total sales as Wingstop adapted to COVID-19 challenges. Stacy aims to enhance digital transactions domestically and internationally as the company strives to digitize 100% of its transactions.
Wingstop reported impressive fiscal Q1 2020 results, with system-wide sales up 18.6% to $429.9 million and net income increasing 22.6% to $8.1 million, or $0.27 per diluted share. Domestic same-store sales rose 9.9%, and digital sales surged to 47%. A strong performance in April saw same-store sales growth exceed 30%. However, the company withdrew 2020 guidance due to COVID-19 uncertainties. A quarterly dividend of $0.11 per share was declared, reflecting strong cash flow generation. Liquidity was improved with a $16 million funding draw, raising unrestricted cash to $31 million.
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