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
As National Chicken Wing Day approaches on July 29, Thighstop, a virtual brand by Wingstop (WING), is introducing 'Thighstop Thigh Day' due to a national chicken wing crisis. To celebrate, Thighstop offers two free bone-in thighs with a qualifying purchase of $15. The deal is available via Thighstop.com or DoorDash. A new limited-time flavor, Jamaican Jerk BBQ, will also debut. Additionally, Thighstop is donating $100,000 to Wingstop Charities to benefit local youth. Launched in June 2021, Thighstop serves crispy thighs and has over 1,400 locations nationwide.
Wingstop Inc. (NASDAQ: WING) will host a conference call on July 28, 2021, at 10:00 AM EST to discuss its fiscal second quarter 2021 financial results. The call will feature CEO Charlie Morrison and CFO Michael Skipworth. A press release with the results will be issued before the market opens on the same day. The conference call can be accessed by phone or via a live webcast, with a replay available afterward. Wingstop, headquartered in Dallas, operates over 1,500 locations and reported a 28.8% increase in system-wide sales in fiscal 2020, to approximately $2.0 billion.
Thighstop, a new virtual brand launched on June 21, 2021, offers chicken thigh dishes as an alternative to chicken wings amid concerns of a potential shortage. With over 1,400 locations, the brand provides flavorful options like bone-in and breaded boneless thighs, available through Thighstop.com and DoorDash. Customers can enjoy thighs in 11 distinct flavors inspired by Wingstop. CEO Charlie Morrison emphasizes Thighstop's goal of delivering familiar dining experiences conveniently, catering to a growing consumer demand for flavorful chicken offerings.
On May 25, 2021, Wingstop (NASDAQ: WING) announced a minority investment in its UK franchisee, Lemon Pepper Holdings Ltd. (LPH), reflecting confidence in the UK market's growth potential. This follows LPH's successful openings, including seven locations during lockdowns and a new site in Reading. Wingstop aims to become a Top 10 Global Restaurant Brand, exploring further expansion in Europe, China, and Canada. In fiscal year 2020, the company recorded system-wide sales of approximately $2.0 billion, marking a 28.8% year-over-year increase and 17 consecutive years of same-store sales growth.
Wingstop reported strong fiscal Q1 2021 results, with system-wide sales increasing by 30.0% to $558.9 million and net income rising 62.5% to $13.2 million, or $0.44 per diluted share. Domestic same-store sales grew 20.7%, and digital sales reached 63.6% of total sales. The company opened 41 new restaurants, marking an increase of 11.7% year-over-year. Adjusted EBITDA soared 46.2% to $23.9 million. The company also announced a quarterly dividend of $0.14 per share, demonstrating confidence in its cash flow generation.
Wingstop (NASDAQ: WING) has announced a significant expansion into Canada, partnering with JPK Capital to open 100 locations over the next decade, starting with Toronto in early 2022. This move follows Wingstop's successful 2020, marked by 21.4% same-store sales growth and over 700% stockholder return since its IPO in 2015. Wingstop aims to leverage its tech capabilities for a superior customer experience as it seeks to become a Top 10 Global Brand, capitalizing on the increasing demand for its offerings in the Canadian market.
Wingstop Inc. (NASDAQ: WING) reported preliminary results for Q1 2021, showcasing strong growth metrics. The company opened 41 new locations, boosting its total to 1,579 restaurants, marking an 11.7% increase. Same-store sales surged by 20.7%, while system-wide sales rose 30.0%, reaching approximately $558.9 million. Digital sales also surged to 63.6%, up from 43.3% in Q1 2020. The company will discuss detailed financial results on April 28, 2021. CEO Charlie Morrison expressed confidence in achieving top global brand status.
Wingstop reported strong financial results for Q4 and fiscal year 2020 despite a net loss of $6.4 million, reflecting a loss per diluted share of $0.21. Key metrics included a 26.5% increase in system-wide sales to $502.5 million, an 18.2% rise in domestic same-store sales, and a domestic average unit volume (AUV) growth to $1.49 million. Total revenue rose 19.0% to $63.3 million. Adjusted net income was $5.3 million, with adjusted EBITDA up 14.7% to $16.2 million. Wingstop also plans to continue expanding, with a positive 3-5 year growth outlook.
Wingstop (NASDAQ: WING) is bringing back three popular remix flavors—Hot Lemon, Bayou BBQ, and Lemon Garlic—to its menus nationwide starting February 14, just in time for Valentine's Day. These flavors, inspired by fan feedback and social media buzz, will be available until June 21. Additionally, Wingstop will reward select fans with promo codes for $10 off their favorite remixes as part of its 'Return the Flavor' initiative. The brand aims to leverage the love and loyalty of its customers, marking another milestone in its successful marketing strategy.
Wingstop Inc. (NASDAQ: WING) will host a conference call on February 17, 2021, at 10:00 AM EST to discuss its fiscal fourth quarter and full year 2020 financial results. A press release with these results will be available the same day before market opening. The call will feature CEO Charlie Morrison and CFO Michael Skipworth. The public can access the call via phone or through a live webcast.
Wingstop operates over 1,500 locations globally, achieving a 20.1% increase in system-wide sales in 2019.
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