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 its expansion into Spain, opening four ghost kitchens in Madrid, starting March 31, 2022. This marks Wingstop's entry into the Spanish market, aiming to replicate its success seen in the UK and the US. The company expects to establish a traditional franchise model in Spain over time, emphasizing its unique flavor offerings. Wingstop's recent strong performance includes a system-wide sales increase to $2.3 billion in 2021, reflecting a 20.2% growth from 2020. The brand plans further international expansion, targeting markets in EMEA.
Wingstop announced the resignation of Charlie Morrison as CEO and Chairman, effective March 13, 2022. Michael Skipworth, previously President and COO, will take over as CEO. Morrison leaves to become CEO of Salad And Go after a significant tenure at Wingstop. Under Skipworth's leadership since 2014, the brand achieved a successful IPO in 2015 and recorded a 20.2% increase in system-wide sales to approximately $2.3 billion in fiscal 2021. Lynn Crump-Caine is appointed as Chair of the Board.
Wingstop completed a $250 million securitized financing transaction on March 9, 2022, issuing new 3.734% Notes with a 2029 repayment date. A $200 million variable funding note facility was also established to enhance liquidity. The Board approved a special dividend of $4.00 per share, payable to stockholders of record by March 24, 2022. This brings total capital returns to over $645 million since the IPO. Fiscal 2022 guidance includes $23.5 million interest expense and a 27-28% effective tax rate.
Wingstop Inc. (Nasdaq: WING) celebrates National Ranch Day on March 10, 2022, by offering complimentary ranch dip for digital purchases through Wingstop.com/app using the code "RANCHDAY." Fans are encouraged to share their ranch moments on social media. Chef Larry Bellah shares tips for enhancing ranch flavors, suggesting combinations with various sauces. In 2021, Wingstop achieved a 20.2% increase in system-wide sales, totaling approximately $2.3 billion, marking 18 consecutive years of same-store sales growth. The company aims to enhance digital sales through ongoing tech investments.
Wingstop Inc. (Nasdaq: WING) is enhancing fan experiences during the basketball tournament with a free delivery promotion and bundle offer, while also supporting women's athletics through 11 NIL partnerships with standout female players. The initiative aims to give visibility to women in sports, addressing historical disparities in media coverage and sponsorship. The promotion includes offers from March 17-20, March 24-27, and April 1-4, and a Big Night In Bundle for $19.99. Wingstop's extensive advertising will be featured on ESPN and ESPN 2, aligning with its commitment to diversity and inclusion.
Wingstop Inc. (NASDAQ: WING) announced plans for a securitized financing transaction, intending to issue $250 million in new securitized notes. The funds will enhance liquidity and cover transaction fees. Additionally, a new variable funding note facility will replace the existing $50 million facility, with a potential increase in borrowing capacity up to $200 million. The transaction is contingent on market conditions and is expected to close in Q1 2022. Wingstop aims to strengthen its financial standing while supporting potential shareholder returns.
Wingstop's Q4 2021 results show a 13.8% increase in total revenue to $72.0 million, with net income rising to $6.9 million or $0.23 per diluted share, recovering from a loss of $6.4 million a year prior. Same-store sales grew by 7.5%, supported by a 19.8% surge in system-wide sales, totaling $601.9 million. The company opened 58 new locations in Q4, contributing to an increase in domestic average unit volume to $1.6 million. For 2021, total revenue reached $282.5 million, marking a 13.5% rise.
Wingstop (Nasdaq: WING) is introducing a special Valentine's Day promotion for singles on February 14, featuring $0.70 boneless wings and $4.49 regular Thigh Bites. With over 1,600 locations, this limited-time offer will be available for in-restaurant and delivery orders. Wingstop also aims to connect with singles through targeted advertising on Tinder, enhancing engagement around this promotion. Additionally, couples can enjoy a special meal for two, underlining Wingstop's commitment to broadening its appeal. This initiative reflects Wingstop's focus on customer experience and flavor.
Wingstop (NASDAQ: WING) has unveiled its "restaurant of the future" in Dallas, a prototype designed for rapid testing of equipment and layouts, focusing on enhancing customer experience through digital transactions. This 1,300 square foot location promotes a carryout and delivery-only model, aiming for 100% digital orders. Key features include a cashless environment, energy-efficient equipment, and innovative ordering solutions. With nearly 100% of orders being delivery or carryout, this model reflects Wingstop's commitment to efficiency and customer preferences as it aims to become a top global restaurant brand.
Wingstop Inc. (NASDAQ: WING) announced a conference call on February 16, 2022, at 10:00 AM EST, to discuss its fiscal fourth quarter and full year 2021 financial results. A press release will be issued prior to market opening that day. The conference call will be available via phone and webcast, with a replay accessible for a week after the call. Wingstop operates over 1,600 locations and reported significant sales growth in previous years, with system-wide sales soaring 28.8% to approximately $2.0 billion in 2020.
FAQ
What is the current stock price of Wingstop (WING)?
What is the market cap of Wingstop (WING)?
What is Wingstop Inc. known for?
When was Wingstop founded?
How many locations does Wingstop have?
What is Wingstop's business model?
What were Wingstop's system-wide sales in 2022?
What are some recent achievements of Wingstop?
What are Wingstop's core values?
What is The Wingstop Way?
What is Wingstop’s long-term vision?
How does Wingstop support its community?
