Wingstop Flying High Despite Pandemic
The COVID-19 pandemic doesn’t seem to be grounding Wingstop.
The Dallas-based chicken wing chain recently reported net income of $10.1 million for the third quarter, up 70.7% from the third quarter last year. Its revenue increased 28.3% to $64 million. Its digital sales increased 62%. Its system-wide sales increased 32.8%, and its U.S. same-store sales increased 25.4%.
To top it off, Wingstop just celebrated the opening of its 1,500 restaurant in Las Vegas. The chain opened 43 new restaurants in the third quarter and will open about 140 new restaurants in 2020.
“The strength of our development pipeline is key for long-term success as we grow the brand to achieve our stated goal of 6,000 plus global restaurants and continue building a top 10 global restaurant brand,” Wingstop Chairman and CEO Charlie Morrison said. “We’re excited about the acceleration we’re seeing in development.”
The 1,500th Wingstop restaurant is franchised by Far West Restaurant Group LLC and CEO Danny Sonenshine. Far West Restaurant Group LLC has been a Wingstop brand partner since 2005 with 61 locations across Las Vegas, Los Angeles, San Diego and Seattle.
Wingstop is an international brand with about 1,500 locations in 44 states and nine countries outside of the U.S.