News

Wingstop reports strong year of growth

March 4, 2019

Thanks, in part, to its digital sales increasing to 27.6 percent of domestic system-wide sales, Wingstop Inc. today announced solid financial results for the fiscal fourth quarter and fiscal year ending Dec. 29, 2018.

"Driven by our vision to become a top 10 global restaurant brand and our mission to serve the world flavor, we are pleased to report another year of strong growth across all key metrics," Chairman and CEO Charlie Morrison, said in a company press release. "Additionally, 2018 marked another year where we continued to demonstrate our dedication to returning capital to shareholders by returning over $192 million in dividends.

Highlights for the fiscal fourthquarter2018 compared to the fiscal fourthquarter2017:

System-wide sales increased 15 percent to $328 million

• System-wide restaurant count increased 10.5 percent to 1,252 global locations.
• System-wide domestic same-store sales increased 6 percent.
• Digital sales increased to 27.6 percent of domestic system-wide sales.
• Total revenue increased 15.1 percent to $40.5 million.
• Net income was $2.4 million compared to $8.1 million in the prior fiscal fourth quarter. 
• Opened 37 units

Highlights for the fiscal year 2018 compared to the fiscal year 2017:

• System-wide sales increased 16 percent to $1.3 billion.
• Added 119 net restaurants in fiscal year 2018.
• System-wide domestic same-store sales increased 6.5 percent, making fiscal year 2018 the 15th consecutive year of same-store sales growth.
• Total revenue increased 14.9 percent to $153.2 million.
• Net income was $21.7 million, or $0.73 per diluted share, while adjusted net income**, a non-GAAP measure, increased 21.8 percent to $24.7 million.

"We remain focused on our strategic long-term growth drivers of national advertising, digital innovation, delivery and unit expansion, and we believe we are executing against a strategy that will continue to deliver strong same-store sales growth, best-in-class unit economics and strong shareholder returns in 2019 and the years to come," Morrison said.

Financial outlook

Wingstop is reiterating its long-term targets of:

• 10 percent+ system-wide unit growth
• Low single digit domestic same-store sales growth

As of Dec. 29, 2018, there were 1,252 Wingstop restaurants system-wide.