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) announced it will release its fiscal second quarter 2024 financial results on July 31, 2024, at 10:00 a.m. ET. The announcement will be followed by a conference call and webcast to discuss the results. The press release with detailed financial information will be issued before the market opens on the same day.
Participants can join the call by dialing 1-877-259-5243 or 1-412-317-5176 for international calls. A replay will be available two hours after the call and can be accessed until August 7, 2024, by dialing 1-877-344-7529 (U.S.) or 1-412-317-0088 (international) and entering the replay code 7955331. Additionally, the webcast will be archived on Wingstop's investor relations website.
Wingstop Inc. (NASDAQ: WING) reported impressive fiscal first quarter 2024 financial results, showing a 36.8% increase in system-wide sales, 21.6% domestic same store sales growth, and an 83.5% surge in net income. Total revenue rose to $145.8 million, with adjusted EBITDA up 45.3% to $50.3 million. The company plans low double-digit domestic same store sales growth and 275 to 295 global net new units for 2024. Despite rising costs, Wingstop remains committed to shareholder value, approving a $0.22 quarterly dividend per share.
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