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. reports developments for a fast-casual chicken restaurant brand built around classic and boneless wings, tenders, chicken sandwiches, sauces, sides, and housemade ranch and bleu cheese dips. The company operates an asset-light, highly franchised restaurant system with brand partners owning most locations worldwide.
Recurring news includes quarterly financial results, system-wide sales, same-store sales, domestic average unit volume, restaurant openings, royalty and advertising-fee trends, capital allocation, share repurchase authorizations, leadership updates, limited-time flavors, beverage pairings, and brand collaborations.
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.
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.