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 has appointed Donnie Upshaw as its first Chief People Officer, effective December 16, 2021. Upshaw, who has been with the company since 2018 and previously served as Senior Vice President of People, is recognized for his significant contributions to the company's talent framework and culture. Wingstop's Chairman and CEO Charlie Morrison praised Upshaw's role in leading culture and strategy for talent management. The company continues to experience strong growth, achieving record sales and expansion during recent quarters, underscoring the importance of its people-centric approach.
Wingstop (Nasdaq: WING) has launched a new limited-time flavor, Orange Szechuan, at all its locations. This sauce blends mandarin orange, soy, and Szechuan peppers for a unique taste experience. The introduction follows customer requests for this trending flavor and reflects Wingstop's innovative approach to menu development. With over 1,600 locations, Wingstop continues to focus on digital sales, which accounted for 61.6% of total sales in the last fiscal quarter. The company remains committed to enhancing customer experience with exciting new flavors.
Wingstop (NASDAQ: WING) is set to expand in Manhattan, NY, planning over 20 new openings in the next three years. This initiative combines traditional locations and ghost kitchens, tapping into the brand's successful UK strategy, which has seen average unit volumes of over two million dollars. The brand's robust development pipeline has led to record openings, including 49 new restaurants in Q3 2021 and a total of 153 new restaurants in 2020. Wingstop aims to enhance shareholder returns through its strategic investments in high-demand urban markets.
Wingstop announced its fiscal third quarter 2021 financial results, showing a 16.7% increase in system-wide sales to $594.3 million and 49 net new openings, a 13.1% rise year-on-year. Domestic same-store sales rose 3.9%, with total revenue increasing 2.8% to $65.8 million. Net income climbed 12.0% to $11.3 million or $0.38 per diluted share. Despite high chicken prices, adjusted EBITDA grew 16.2% to $21.4 million. The company anticipates 7-8% same-store sales growth for the fiscal year.
Wingstop Inc. (NASDAQ: WING) will announce its fiscal third quarter 2021 financial results on November 3, 2021, before market opening. A conference call to discuss these results is scheduled for 10:00 AM EST on the same day. The call can be accessed by dialing 1-844-200-6205, with a replay available until November 10, 2021. Wingstop operates over 1,600 locations globally and has seen significant growth, with a 28.8% increase in system-wide sales for fiscal year 2020, totaling approximately $2.0 billion.
Wingstop (Nasdaq: WING) announced that Nicolas Boudet has been promoted to Senior Vice President of Global Development while retaining his position as President of International. This move reflects his significant contributions to Wingstop's global expansion, notably in the UK and through the introduction of ghost kitchens. The company expects to double its presence in Mexico and enter Canada by 2022. Wingstop has achieved remarkable financial performance, with 2020 system-wide sales soaring 28.8% to $2 billion, marking 17 consecutive years of same-store sales growth.
Wingstop (Nasdaq: WING) has officially added crispy bone-in thighs and boneless Thigh Bites to its menu, responding to customer demand after the successful launch of its virtual brand, Thighstop. The new offerings will be available in various meal options alongside Wingstop's classic wings. To celebrate, Wingstop is introducing 'Thigh Thursday' where customers can enjoy special pricing on Thigh Bites. This expansion aims to enhance the menu and amplify the flavor experience for guests, demonstrating Wingstop's commitment to innovation and customer satisfaction.
Wingstop (NASDAQ: WING) has announced a new executive leadership structure to enhance its digital strategy. Stacy Peterson has been appointed as EVP, Chief Digital and Technology Officer, while Marisa Carona and Stevie Benjamin have been promoted to SVP roles focused on growth and digital marketing, respectively. This restructuring aims to drive 100% digital transactions and improve one-to-one customer engagement. The company reported that nearly 65% of sales are now digital and expects to leverage first-party data to optimize marketing efforts, positioning itself for future growth.
Wingstop reported a 15.8% increase in system-wide sales to $589.7 million for Q2 2021, driven by 45 new openings and a 2.1% rise in domestic same-store sales. Revenue rose 11.9% to $74 million, while net income was $11.3 million or $0.38 per diluted share. The company has opened over 200 restaurants in the past year and continues to project mid-single digit same-store sales growth. Notably, the quarterly dividend increased by 21% to $0.17 per share.
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