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) announced a conference call and webcast to discuss its fiscal Q4 and full-year 2022 financial results on February 22, 2023, at 10:00 AM EST. A press release detailing the financial outcomes will be issued prior to market open that day. Investors can join the call at 1-877-259-5243 or access the webcast via Wingstop's investor relations website. The company, founded in 1994 and headquartered in Dallas, operates around 1,900 locations globally and reported a 20.2% year-over-year increase in system-wide sales to approximately $2.3 billion in fiscal 2021.
The law firm of Federman & Sherwood has initiated an investigation into a data breach at Wing Financial, a franchise of Jackson Hewitt, based in Bartlesville, Oklahoma. The breach, reported on December 1, 2022, affected over 240,000 individuals, with sensitive information such as names, Social Security numbers, financial details, and medical history compromised. The firm is inviting those affected to discuss legal actions regarding this breach.
Wingstop (NASDAQ: WING) has launched a new limited-time flavor, Carolina Gold BBQ, inspired by Southern BBQ traditions, available from December 6 to 19. This flavor features a unique twist on the classic mustard-based sauce, emphasizing sweetness to appeal to a broader audience. The Carolina Gold BBQ can be enjoyed on various menu items, including the new Chicken Sandwich. Additionally, Wingstop is promoting a buy-one-get-one-free Chicken Sandwich offer via Uber Eats during this period, enhancing the customer experience and driving sales.
Wingstop (NASDAQ: WING) has introduced a Round-Up program on Giving Tuesday, allowing customers to round up their bills for charitable donations. The funds collected will support Wingstop Charities, focusing on youth engagement in arts, sports, education, and more. Since 2016, Wingstop Charities has distributed over $1 million across 87 cities. The program aims to generate an additional $2 million annually for community grants. CEO Michael Skipworth emphasizes the company's commitment to local community support through grants and scholarships.
On November 8, 2022, Wingstop (NASDAQ: WING) announced a 'buy one get one free' (BOGO) chicken sandwich promotion for National Chicken Sandwich Day on November 9. Customers can access this deal using code 'BOGOSAMMY' at Wingstop.com or through delivery apps like Uber Eats and DoorDash. Wingstop's sandwiches feature 12 bold flavors and are priced at $5.49 each. The brand previously sold one million sandwiches in six days during the initial launch, indicating strong consumer demand. The promotion aims to boost sales and brand engagement.
Wingstop Inc. (NASDAQ: WING) reported strong fiscal third quarter results for 2022, highlighting a 40.9% increase in total revenue to $92.7 million and a 17.7% rise in system-wide sales to $699.6 million. Net income rose 18.4% to $13.4 million, translating to $0.45 per diluted share. The company forecasted an increase in earnings per share guidance to $1.61 - $1.63. With 40 net new openings and a 6.9% growth in domestic same store sales, Wingstop is on track for its 19th consecutive year of same store sales growth, bolstered by reduced wing costs.
Wingstop (NASDAQ: WING) is celebrating its expansion in New York City with exclusive giveaways, including 'Free Chicken Sandwiches for a Year' starting October 18, 2022. The first 50 fans at specific locations will receive gift cards valued at $350. After a successful initial launch in August, the Chicken Sandwich returns to meet high consumer demand. Wingstop operates over 1,850 locations globally, with a reported system-wide sales increase of 20.2% to approximately $2.3 billion for fiscal year 2021, marking 18 consecutive years of same-store sales growth.
Wingstop Inc. (NASDAQ: WING) will host a conference call and webcast on October 26, 2022, at 10:00 AM EST, to discuss its fiscal third quarter 2022 financial results. A press release detailing these results will be issued before market opening that day. The conference call can be joined by calling 1-877-259-5243 or checking the company’s investor relations website for live streaming and archives. The company operates over 1,850 locations globally and aims to become a top global restaurant brand.
Wingstop (NASDAQ: WING) announced the appointment of Craig Sherwood as SVP of U.S. Development, aiming to expand its presence from over 1,600 locations to 4,000+ across the U.S. Sherwood's prior experience includes leadership roles at Little Caesars and Gold's Gym. The company reported an average unit volume of $1.6 million and opened a record 127 new units in the first half of 2022, contributing to a total system-wide sales increase of 20.2% to approximately $2.3 billion in fiscal 2021.
Wingstop (NASDAQ: WING) launched its Chicken Sandwich nationwide on August 30, 2022, offering 12 bold flavors. To encourage customers to switch from their current choices, they are giving away 100,000 free sandwiches to those who submit a breakup letter via ChickenSandwichSplit.com before September 5. The sandwich costs $5.49 and includes a side of Wingstop's popular ranch. The brand aims to attract new customers while rewarding loyal fans with this innovative menu item. In fiscal year 2021, Wingstop's system-wide sales rose 20.2% year-over-year to approximately $2.3 billion.
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