Wingstop Inc Stock Price, News & Analysis

Wingstop (NASDAQ: WING) launched its Chicken Sandwich nationwide on August 30, 2022, offering 12 bold flavors. To encourage customers to switch from their current choices, they are giving away 100,000 free sandwiches to those who submit a breakup letter via ChickenSandwichSplit.com before September 5. The sandwich costs $5.49 and includes a side of Wingstop's popular ranch. The brand aims to attract new customers while rewarding loyal fans with this innovative menu item. In fiscal year 2021, Wingstop's system-wide sales rose 20.2% year-over-year to approximately $2.3 billion.

Wingstop Inc. (WING) reported a 13.2% increase in total revenue to $83.8 million for Q2 2022, with net income rising 17.6% to $13.3 million, or $0.44 per diluted share. Despite a 3.3% decline in domestic same-store sales, the company experienced a 14.4% growth in unit openings, totaling 1,858 restaurants. Digital sales made up 60.5% of total sales. The company reiterated its 2022 guidance, anticipating low-single digit growth in same-store sales and increasing its projected net openings to 220-235 restaurants. A quarterly dividend was also raised to $0.19 per share.

On July 29, Wingstop celebrates National Chicken Wing Day by offering fans five free wings with a qualifying purchase. Customers can redeem this promotion using the code FREEWINGS at participating locations. Each redemption will trigger a donation of $1 to Wingstop Charities up to $100,000, supporting local youth programs. During the fiscal year 2021, Wingstop reported a 20.2% increase in system-wide sales, totaling approximately $2.3 billion. The promotion aims to enhance customer engagement and community support.

Wingstop Inc. (NASDAQ: WING) will host a conference call on July 28, 2022, at 10:00 AM EST to discuss its fiscal Q2 2022 financial results. A press release will precede the call, revealing key financial metrics. Investors can join by phone or via a live webcast, with a replay available after the call until August 4, 2022. Founded in 1994, Wingstop operates over 1,700 locations and achieved system-wide sales of approximately $2.3 billion in fiscal 2021, marking an 18th consecutive year of same-store sales growth.

Wingstop (Nasdaq: WING) has signed an agreement for development rights in South Korea, aiming to open 60 restaurants over ten years, with potential for a total of 200-250 locations. The first restaurant is set to launch in early 2023. This expansion supports Wingstop's goal of becoming a Top 10 Global Restaurant Brand, leveraging its strong digital platform and the demand for western brands in Korea's tech-savvy market. The company also plans additional growth in Canada and Indonesia, targeting over 7,000 global restaurants, predominantly outside the U.S.

Wingstop (Nasdaq: WING) has reintroduced three popular flavor remixes: Hot Lemon, Bayou BBQ, and Lemon Garlic, available for a limited time. The flavors were inspired by consumer suggestions and highlight the company's dedication to innovation. In fiscal year 2021, Wingstop saw system-wide sales increase by 20.2% to around $2.3 billion, marking its 18th consecutive year of same-store sales growth. The company opened 60 net new restaurants in Q1 2022 and reported a 1.2% increase in domestic same-store sales. Digital channels accounted for 62.3% of sales during this period.

Wingstop reported a 12.7% increase in system-wide sales, reaching $630 million for Q1 2022. Despite a 7.8% rise in total revenue to $76.2 million, net income fell to $8.7 million or $0.29 per diluted share, down from $13.2 million or $0.44 the previous year. Domestic same-store sales grew 1.2%, and adjusted EBITDA decreased to $22.1 million. The company reported 60 new openings and raised full-year guidance to over 220 units. A quarterly dividend of $0.17 per share was also declared.

Wingstop Inc. (NASDAQ: WING) has expanded its development agreement in Indonesia, increasing its commitment from 60 to 120 restaurants by 2028. The brand, which currently operates 50 locations in Indonesia, has opened five new restaurants this year. This growth strategy is part of Wingstop's vision to become a top global restaurant brand, with plans for over 7,000 locations worldwide. Digital sales have surged from 35% to 65% during the pandemic, demonstrating the brand's adaptability and resilience in a challenging market.