Wingstop Explained

Wingstop Inc.
Type:Public
Industry:Restaurants
Genre:Fast casual fast food restaurant
Founded:
Garland, Texas, U.S.
Founders:
  • Antonio Swad
  • Bernadette Fiaschetti
Location:Addison, Texas, U.S.
Locations:1,413 as of March 28, 2020[1]
Area Served:[2]
Key People:Michael J. Skipworth (CEO)
Products:Chicken wings, chicken tenders, french fries, soft drinks
Revenue: US$$282.5 million (FY 2021)[3]
Operating Income: US$73.7 million (FY 2021)
Net Income: US$42.6 million (FY 2021)
Assets: US$249.2 million (FY 2021)
Equity: US$249.2 million (FY 2021)

Wingstop Inc. is an American international chain of restaurants that primarily sells buffalo wings. Wingstop locations are decorated with a 1930s and 1940s pre-jet aviation theme. The restaurant chain was founded in 1994 in Garland, Texas, and began offering franchises in 1997. As of 2022, Wingstop had over 1,400 restaurants. The chain is headquartered in Addison, Texas.[4] In 2003, the chain was acquired by Gemini Investors, which sold it to Roark Capital Group in 2010.[5] Wingstop went public in 2015.[6]

History

Wingstop was founded in 1994 in Garland, Texas by Antonio Swad. The first franchised location opened in 1997, and by 2002, the brand claimed to have served two million wings.[7] In 2005, Wingstop began serving lunch, and in 2009 it began selling a boneless product.[8] Wingstop opened its first international restaurant in Mexico in 2010.[9]

Between 2014 and 2016, Wingstop was the third-fastest-growing restaurant chain in the US as measured by both system-wide sales and unit growth, according to Nation's Restaurant News.[10] [11] In 2015, Wingstop went public at an initial public offering price of $19 per share.[12] That year, their profits more than doubled.[13]

In 2019, Wingstop began using the tagline Where Flavor Gets Its Wings.[14] The next year, Wingstop became available for delivery in Dallas, Texas through DoorDash[15] As of 2019, the Wingstop Team Member Foundation acted as an employee-funded nonprofit that gave money to other employees experiencing financial hardship due to an emergency.[16]

On June 21, 2021, WingStop announced a digital-only restaurant called ThighStop, which sells chicken thighs instead of wings. The company cited cost-saving measures as the reason for the change.[17]

Menu

The menu includes a range of chicken products, such as wings with sauces and sandwiches.[18] Some sauces are available for limited periods as part of marketing efforts.[19] [20]

See also

Notes and References

  1. Web site: Wingstop to relocate headquarters. Ruggless. Ron. June 25, 2019. Nations Restaurant News. June 26, 2019. June 26, 2019. https://web.archive.org/web/20190626012532/https://www.nrn.com/fast-casual/wingstop-relocate-headquarters. live.
  2. Web site: 2014-02-12 . Wingstop pushes international expansion . 2022-05-15 . Nation's Restaurant News . en . May 15, 2022 . https://web.archive.org/web/20220515173319/https://www.nrn.com/international/wingstop-pushes-international-expansion . live .
  3. Web site: WING Financials. January 30, 2021. Nasdaq. March 5, 2022.
  4. Web site: Wingstop Inc. Announces New Corporate Headquarters in Addison, TX. 2019-06-25. Wingstop. en. 2019-12-07. 2019-12-07. https://web.archive.org/web/20191207222252/https://ir.wingstop.com/news-and-events/news/press-release-details/2019/Wingstop-Inc-Announces-New-Corporate-Headquarters-in-Addison-TX/default.aspx. dead.
  5. Roark Capital Group Acquires Wingstop . Roark Capital Group . April 18, 2012 . January 20, 2013 . https://web.archive.org/web/20130120125023/http://www.roarkcapital.com/images/file/Wingstop%20Press%20Release.pdf . dead .
  6. Web site: Nasr. Reem. Wingstop surges in IPO to close 61% higher. CNBC. 2019-04-25. 2015-06-12. April 25, 2019. https://web.archive.org/web/20190425151938/https://www.cnbc.com/2015/06/12/wingstop-ipo-opens-up-62-at-3050.html. live.
  7. Web site: Wingstop. 2021-04-27. wingstop.com. May 9, 2019. https://web.archive.org/web/20190509172259/https://www.wingstop.com/about-us. live.
  8. Web site: Wingstop Rolls Out Boneless Wings. 2021-04-27. QSR magazine. en. April 23, 2021. https://web.archive.org/web/20210423210213/https://www.qsrmagazine.com/news/wingstop-rolls-out-boneless-wings. live.
  9. Inc. Wingstop Restaurants. 2019-09-23. Wingstop to Double Current Presence in Mexico. 2021-04-27. GlobeNewswire News Room. fr. April 23, 2021. https://web.archive.org/web/20210423210212/https://www.globenewswire.com/news-release/2019/09/23/1919120/35902/en/Wingstop-to-Double-Current-Presence-in-Mexico.html. live.
  10. Web site: 2014-07-03 . 2014 Top 100: Why Wingstop is the No. 3 fastest-growing chain . 2022-05-15 . Nation's Restaurant News . en . August 6, 2024 . https://web.archive.org/web/20240806084055/https://www.nrn.com/us-top-100/2014-top-100-why-wingstop-no-3-fastest-growing-chain . live .
  11. Web site: 2016-06-28 . 2016 Top 100: Why Wingstop is the No. 3 fastest-growing chain . 2022-05-15 . Nation's Restaurant News . en . May 15, 2022 . https://web.archive.org/web/20220515172855/https://www.nrn.com/us-top-100/2016-top-100-why-wingstop-no-3-fastest-growing-chain . live .
  12. Web site: Carnette. Jamal. December 28, 2020. Up 600% in 5 Years, Is Wingstop Just Getting Started?. NASDAQ. April 23, 2021. April 23, 2021. https://web.archive.org/web/20210423210212/https://www.nasdaq.com/articles/up-600-in-5-years-is-wingstop-just-getting-started-2020-12-28. live.
  13. Web site: 2016-03-03 . Wingstop's profit more than doubles in 2015 . 2022-05-15 . Nation's Restaurant News . en . October 3, 2022 . https://web.archive.org/web/20221003152647/https://www.nrn.com/finance/wingstop-s-profit-more-doubles-2015 . live .
  14. Web site: Wingstop. 2021-04-27. wingstop.com.
  15. Web site: Wingstop Begins Nationwide Rollout of Delivery with DoorDash in Dallas-Fort Worth. 2021-04-27. QSR magazine. en. April 23, 2021. https://web.archive.org/web/20210423210213/https://www.qsrmagazine.com/news/wingstop-begins-nationwide-rollout-delivery-doordash-dallas-fort-worth. live.
  16. Web site: 2019-06-07. Wingstop Foundation Supports Team Members in Need. 2021-04-27. WINGSIDER. en.
  17. Web site: Wiener-Bronner . Danielle . June 21, 2021 . There's a chicken wing shortage. So this chain wants you to start loving thighs . 2021-07-15 . CNN . August 18, 2022 . https://web.archive.org/web/20220818144655/https://www.cnn.com/2021/06/21/business/chicken-thighs-wingstop/index.html . live .
  18. Fall in Love with Wingstop's New Chicken Sandwich Offered in 12 Bold Flavors, Now Available Nationwide. 2022-08-30. prnewswire.com. en-US. August 30, 2022. https://web.archive.org/web/20220830182109/https://www.prnewswire.com/news-releases/fall-in-love-with-wingstops-new-chicken-sandwich-offered-in-12-bold-flavors-now-available-nationwide-301614264.html. live.
  19. Web site: Wingstop Celebrates 25th Anniversary with 25 Days of Flavor. 2021-04-27. ir.wingstop.com. en-US.
  20. Web site: Wingstop. February 11, 2021. Wingstop's "Remix" Flavors Hot Lemon, Lemon Garlic, and Bayou BBQ are BACK!. 2021-04-27. wingsider.wingstop.com.

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