Wingstop

Last updated

Wingstop Inc.
Company type Public
Industry Restaurants
GenreFast casual fast food restaurant
Founded1994;30 years ago (1994)
Garland, Texas, U.S.
Founders
  • Antonio Swad
  • Bernadette Fiaschetti
Headquarters Addison, Texas, U.S. [1]
Number of 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
RevenueIncrease2.svg US$$282.5 million (FY 2021) [3]
Increase2.svg US$73.7 million (FY 2021) [3]
Increase2.svg US$42.6 million (FY 2021) [3]
Total assets Increase2.svg US$249.2 million (FY 2021) [3]
Total equity Increase2.svg US$249.2 million (FY 2021) [3]
Number of employees
4,000 (2021)
Website wingstop.com

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.

Contents

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]

Wings and fries from Wingstop Wingstop chicken and chips.jpg
Wings and fries from Wingstop
A Wingstop in Springfield, Virginia Wingstop storefront, Springfield, Virginia.jpg
A Wingstop in Springfield, Virginia

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

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References

  1. 1 2 Ruggless, Ron (June 25, 2019). "Wingstop to relocate headquarters". Nations Restaurant News . Retrieved June 26, 2019.
  2. ↑ "Wingstop pushes international expansion". Nation's Restaurant News. February 12, 2014. Retrieved May 15, 2022.
  3. 1 2 3 4 5 "WING Financials". Nasdaq. January 30, 2021.
  4. ↑ "Wingstop Inc. Announces New Corporate Headquarters in Addison, TX". Wingstop. June 25, 2019. Retrieved December 7, 2019.
  5. ↑ "Roark Capital Group Acquires Wingstop" (PDF) (Press release). Roark Capital Group.
  6. ↑ Nasr, Reem (June 12, 2015). "Wingstop surges in IPO to close 61% higher". CNBC . Retrieved April 25, 2019.
  7. ↑ "Wingstop". wingstop.com. Retrieved April 27, 2021.
  8. ↑ "Wingstop Rolls Out Boneless Wings". QSR magazine. Retrieved April 27, 2021.
  9. ↑ Inc, Wingstop Restaurants (September 23, 2019). "Wingstop to Double Current Presence in Mexico". GlobeNewswire News Room (Press release) (in French). Retrieved April 27, 2021.{{cite press release}}: |last= has generic name (help)
  10. ↑ "2014 Top 100: Why Wingstop is the No. 3 fastest-growing chain". Nation's Restaurant News. July 3, 2014. Retrieved May 15, 2022.
  11. ↑ "2016 Top 100: Why Wingstop is the No. 3 fastest-growing chain". Nation's Restaurant News. June 28, 2016. Retrieved May 15, 2022.
  12. ↑ Carnette, Jamal (December 28, 2020). "Up 600% in 5 Years, Is Wingstop Just Getting Started?". NASDAQ .
  13. ↑ "Wingstop's profit more than doubles in 2015". Nation's Restaurant News. March 3, 2016. Retrieved May 15, 2022.
  14. ↑ "Wingstop". wingstop.com. Retrieved April 27, 2021.
  15. ↑ "Wingstop Begins Nationwide Rollout of Delivery with DoorDash in Dallas-Fort Worth". QSR magazine. Retrieved April 27, 2021.
  16. ↑ "Wingstop Foundation Supports Team Members in Need". WINGSIDER. June 7, 2019. Retrieved April 27, 2021.
  17. ↑ Wiener-Bronner, Danielle (June 21, 2021). "There's a chicken wing shortage. So this chain wants you to start loving thighs". CNN. Retrieved July 15, 2021.
  18. ↑ "Fall in Love with Wingstop's New Chicken Sandwich Offered in 12 Bold Flavors, Now Available Nationwide". prnewswire.com (Press release). Retrieved August 30, 2022.
  19. ↑ "Wingstop Celebrates 25th Anniversary with 25 Days of Flavor". ir.wingstop.com. Retrieved April 27, 2021.
  20. ↑ Wingstop (February 11, 2021). "Wingstop's "Remix" Flavors Hot Lemon, Lemon Garlic, and Bayou BBQ are BACK!". wingsider.wingstop.com. Retrieved April 27, 2021.
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