Wingstop (WING) Releases Preliminary Q1 Results
- Wall Street rises as big banks kick off earnings season
- Coinbase (COIN) direct listing IPO reference price set at $250
- Bernie Madoff, disgraced Ponzi schemer, dies at 82
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Wingstop Inc. (NASDAQ: WING) today released preliminary unit development and unaudited sales results for the fiscal first quarter 2021. The company also announced that it will host a conference call and webcast to discuss its fiscal first quarter 2021 financial results on Wednesday, April 28, 2021.
Highlights for the fiscal first quarter 2021 as compared to the fiscal first quarter 2020:
- 41 net new openings resulting in 1,579 Wingstop restaurants system-wide, an increase of 11.7%
- Domestic same-store sales increased 20.7%
- Company-owned restaurant same-store sales increased 13.4%
- System-wide sales increased 30.0% to approximately $558.9 million
- Digital sales increased to 63.6%, compared to 43.3% in fiscal first quarter 2020
"Our growth strategy continues to fuel exceptionally strong results for the brand. During the first quarter, we achieved same-store sales growth of 20.7% or 30.6% on a 2-year basis. This underscores the sequential strength in our comp from a 30.4% 2-year in Q4 2020 and the staying power of our growth drivers," stated Charlie Morrison, Chairman and Chief Executive Officer at Wingstop. "We opened 41 net new restaurants, a record-high for the first quarter. This is as a result of achieving a key milestone of over $1.5 million AUVs, translating into best in-class unit economics, and our largest development pipeline to-date. I'm confident we are well on our way to becoming a top 10 global restaurant brand."
Conference Call and Webcast Details for Fiscal First Quarter 2021 Results
Wingstop will host a conference call and webcast to discuss its fiscal first quarter 2021 financial results on Wednesday, April 28, 2021 at 10:00 AM EST.
Hosting the conference call will be Charlie Morrison, Chairman and Chief Executive Officer, and Michael Skipworth, Executive Vice President and Chief Financial Officer. A press release with fiscal first quarter 2021 results will be issued that same day, before the market opens.
The conference call can be accessed live by dialing 1-877-259-5243 or 1-412-317-5176 (international). A replay will be available two hours after the call and can be accessed by dialing 1-877-344-7529 or 1-412-317-0088 (international) and entering the passcode 10153597. The replay will be available through Wednesday, May 5, 2021.
The conference call will also be webcast live and later archived on the investor relations section of Wingstop's corporate website at ir.wingstop.com under the 'News & Events' section.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Netflix (NFLX) Becomes Profitable in South Korea After Reporting a 125% Rise in Revenue For Its Subsidiary
- JPMorgan (JPM) Tops Q1 EPS by $1.40, Revenues Beat
- C3 AI Named to The Financial Times’ List of Fastest Growing Companies in the Americas