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) generates frequent news as a fast-growing, highly franchised chicken restaurant brand headquartered in Dallas, Texas. Founded in 1994, the company focuses on cooked-to-order wings, crispy tenders and chicken sandwiches, and reports operating and franchising more than 3,000 restaurants worldwide with approximately 98% owned by brand partners.
News about Wingstop often centers on unit development and global expansion. Recent releases highlight record net new openings in consecutive quarters, rapid growth from roughly 2,800 to over 3,000 system-wide restaurants, and entry into new international markets such as Australia, Bahrain, Kuwait, Puerto Rico, Saudi Arabia and The Netherlands, along with plans to open in Thailand, Italy and Ireland.
Investors also follow quarterly financial results, where Wingstop reports system-wide sales, domestic average unit volume (AUV), domestic same store sales trends and non-GAAP metrics like Adjusted EBITDA. These earnings updates are typically accompanied by guidance on global unit growth, same store sales expectations, SG&A, stock-based compensation and other outlook items.
On the brand and menu side, Wingstop issues news on limited-time flavors and promotions, including Wingstop Drop campaigns, buy-one-get-one offers on tenders and chicken sandwiches, and special flavors such as Fiery Lime and Hot Lemon. The company also announces marketing partnerships, such as collaborations with athletes like Paige Bueckers and its designation as the Official Chicken Partner of the NBA.
For followers of WING stock, this news feed provides a single place to review restaurant openings, international expansion, promotional activity, brand collaborations and financial performance updates that shape Wingstop’s growth story.
Wingstop Inc. (NASDAQ: WING) announced on October 8, 2020, an increase in its senior term notes offering from $400 million to approximately $480 million. This refinancing plan aims to strengthen liquidity and may include capital returns to shareholders. As of September 26, 2020, the Company had an outstanding balance of $317 million in senior term notes. The refinancing transaction, expected to close in Q4 2020, is subject to market conditions and may not be finalized. The proceeds from this offering will be used to pay off existing debts and transaction costs.
Wingstop reported strong preliminary results for Q3 2020, showcasing resilience amid industry challenges. Key highlights include a 25.4% increase in domestic same-store sales and a 32.8% rise in system-wide sales to approximately $509.2 million. The company opened 43 new restaurants globally, contributing to a total of 1,479 locations as of September 26, 2020. Digital sales surged to 62.0% of total revenue, underscoring a shift in consumer behavior. Wingstop will discuss these results in detail during a conference call on November 2, 2020.
Wingstop Inc. (NASDAQ: WING) announced its plan to refinance its existing securitized financing facility, targeting approximately $400 million in senior term notes and $50 million in senior variable funding notes. As of September 26, 2020, the outstanding balance was $317 million and $16 million respectively. The refinancing aims to repay existing debt, enhance liquidity, and is expected to close in Q4 2020, subject to market conditions. No assurance is given on the completion or the interest rate of the refinancing.
Wingstop reported strong financial results for Q2 2020, with system-wide sales up 37.0% to $509.0 million and total revenue increasing 36.1% to $66.1 million. The net income surged 134.6% to $11.5 million, or $0.39 per diluted share. Domestic same store sales grew 31.9% and Adjusted EBITDA rose 54.2% to $20.9 million. Wingstop also opened 23 new restaurants and plans to expand further, anticipating 120-130 net openings for the fiscal year. Additionally, the Board approved a 27% increase in the quarterly dividend to $0.14 per share.
Wingstop Inc. (NASDAQ: WING) has launched its first domestic ghost kitchen in Dallas, responding to the evolving dining habits due to COVID-19. The company shifted to 100% off-premise operations, showing resilience with a 33.4% increase in same-store sales in April 2020 and a 65% surge in digital sales. The ghost kitchen, under 400 sq. ft., will provide deliveries from a full menu, aligning with Wingstop's goal of digitizing 100% of transactions. The brand's digital channels accounted for 47% of sales as of March 2020.
Wingstop Inc. (NASDAQ: WING) has appointed Stacy Peterson Androes as Chief Technology Officer. She previously served in various technology roles, contributing to Wingstop's robust digital strategy. During her tenure, the brand achieved significant domestic same-store sales growth of 9.9% in Q1 2020 and over 33% in April. Digital orders surged to nearly 65% of total sales as Wingstop adapted to COVID-19 challenges. Stacy aims to enhance digital transactions domestically and internationally as the company strives to digitize 100% of its transactions.
Wingstop reported impressive fiscal Q1 2020 results, with system-wide sales up 18.6% to $429.9 million and net income increasing 22.6% to $8.1 million, or $0.27 per diluted share. Domestic same-store sales rose 9.9%, and digital sales surged to 47%. A strong performance in April saw same-store sales growth exceed 30%. However, the company withdrew 2020 guidance due to COVID-19 uncertainties. A quarterly dividend of $0.11 per share was declared, reflecting strong cash flow generation. Liquidity was improved with a $16 million funding draw, raising unrestricted cash to $31 million.