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. (WING) reported a 13.2% increase in total revenue to $83.8 million for Q2 2022, with net income rising 17.6% to $13.3 million, or $0.44 per diluted share. Despite a 3.3% decline in domestic same-store sales, the company experienced a 14.4% growth in unit openings, totaling 1,858 restaurants. Digital sales made up 60.5% of total sales. The company reiterated its 2022 guidance, anticipating low-single digit growth in same-store sales and increasing its projected net openings to 220-235 restaurants. A quarterly dividend was also raised to $0.19 per share.
On July 29, Wingstop celebrates National Chicken Wing Day by offering fans five free wings with a qualifying purchase. Customers can redeem this promotion using the code FREEWINGS at participating locations. Each redemption will trigger a donation of $1 to Wingstop Charities up to $100,000, supporting local youth programs. During the fiscal year 2021, Wingstop reported a 20.2% increase in system-wide sales, totaling approximately $2.3 billion. The promotion aims to enhance customer engagement and community support.
Wingstop Inc. (NASDAQ: WING) will host a conference call on July 28, 2022, at 10:00 AM EST to discuss its fiscal Q2 2022 financial results. A press release will precede the call, revealing key financial metrics. Investors can join by phone or via a live webcast, with a replay available after the call until August 4, 2022. Founded in 1994, Wingstop operates over 1,700 locations and achieved system-wide sales of approximately $2.3 billion in fiscal 2021, marking an 18th consecutive year of same-store sales growth.
Wingstop (Nasdaq: WING) has signed an agreement for development rights in South Korea, aiming to open 60 restaurants over ten years, with potential for a total of 200-250 locations. The first restaurant is set to launch in early 2023. This expansion supports Wingstop's goal of becoming a Top 10 Global Restaurant Brand, leveraging its strong digital platform and the demand for western brands in Korea's tech-savvy market. The company also plans additional growth in Canada and Indonesia, targeting over 7,000 global restaurants, predominantly outside the U.S.
Wingstop (Nasdaq: WING) has reintroduced three popular flavor remixes: Hot Lemon, Bayou BBQ, and Lemon Garlic, available for a limited time. The flavors were inspired by consumer suggestions and highlight the company's dedication to innovation. In fiscal year 2021, Wingstop saw system-wide sales increase by 20.2% to around $2.3 billion, marking its 18th consecutive year of same-store sales growth. The company opened 60 net new restaurants in Q1 2022 and reported a 1.2% increase in domestic same-store sales. Digital channels accounted for 62.3% of sales during this period.
Wingstop reported a 12.7% increase in system-wide sales, reaching $630 million for Q1 2022. Despite a 7.8% rise in total revenue to $76.2 million, net income fell to $8.7 million or $0.29 per diluted share, down from $13.2 million or $0.44 the previous year. Domestic same-store sales grew 1.2%, and adjusted EBITDA decreased to $22.1 million. The company reported 60 new openings and raised full-year guidance to over 220 units. A quarterly dividend of $0.17 per share was also declared.
Wingstop Inc. (NASDAQ: WING) has expanded its development agreement in Indonesia, increasing its commitment from 60 to 120 restaurants by 2028. The brand, which currently operates 50 locations in Indonesia, has opened five new restaurants this year. This growth strategy is part of Wingstop's vision to become a top global restaurant brand, with plans for over 7,000 locations worldwide. Digital sales have surged from 35% to 65% during the pandemic, demonstrating the brand's adaptability and resilience in a challenging market.
Wingstop Inc. (NASDAQ: WING) is launching a limited-edition flavor, Blazed & Glazed, in celebration of 4/20, available from April 18 to 22 in restaurants nationwide. This flavor, crafted with hemp seeds, terpenes, strawberry, and cayenne pepper, is designed to capture the essence of the cannabis holiday without psychoactive effects. The brand aims to engage cannabis-loving fans and will also participate in the 4/20 celebrations at Hippie Hill in San Francisco. This initiative reflects Wingstop's strategy to expand its audience as it continues to grow its sales and brand presence.
Wingstop Inc. (NASDAQ: WING) announced a conference call for its fiscal first quarter 2022 financial results on May 4, 2022, before the market opens. The call will start at 10:00 AM EST and will be accessible via phone and webcast. Additionally, an investor day is scheduled for May 17, 2022, at 10:30 AM EST, where leadership will discuss strategic priorities and growth catalysts. These events highlight Wingstop's commitment to transparency and engagement with its investors.
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