Wingstop Accelerates Growth In First Quarter
- Same store sales increase 9.6 percent during first three months of 2014
- Development announces 25 new franchise agreements
DALLAS, May 5, 2014 /PRNewswire/ -- Fresh off a record breaking year for growth, Wingstop continued to outperform industry averages in the first quarter of 2014 with a 9.6 percent increase in same store sales and an 8.2 percent increase in traffic.
In addition, Wingstop signed 25 new development agreements over the first three months of the year. The signings represent commitments for 57 new restaurants over nine states including Wingstop's first entry into Kansas and Minnesota.
Wingstop also continued its international expansion with a 50-restaurant development agreement in the Philippines. Based on the experience and expertise of their new Brand Partners, Wingstop expects a minimum of four restaurants to open in the Philippines in 2014.
Other first quarter highlights included:
- Record sales of 6.6 million wings sold during Super Bowl weekend
- Opening of 14 new restaurants
- Successful introduction of a new limited time only flavor, Chili Lime
In 2013, Wingstop enjoyed its most successful year of growth in the 20-year history of the company with the opening of 74 new restaurants as well as development agreements representing another 182 domestic and 35 international restaurant commitments. In addition, Wingstop recorded its 10th consecutive year of positive same store sales increases, at 9.9 percent, and an increase in domestic average unit volume to $974,000. The company now has over 625 restaurants worldwide with signed commitments for more than 550 additional restaurants.
"It is exciting to see that the momentum from last year is carrying over into 2014," Wingstop President and CEO Charlie Morrison said. "Our average unit volumes are quickly approaching the million dollar level. And with an investment of less than $400,000, we believe we are one of the best franchise opportunities in the industry."
With a sole focus on cooked-to-order chicken, the Wingstop menu features classic and boneless wings, chicken strips and Glider sandwiches – all sauced and hand-tossed in 10 original flavors. Homemade side dishes include fresh-cut seasoned fries, made daily from Idaho potatoes, baked beans, coleslaw, potato salad, veggie sticks and house-made ranch and bleu cheese dips.
Founded in 1994 and headquartered in Dallas, Texas, Wingstop has more than 625 restaurants open across the United States, Mexico, Russia and Singapore. The "Wing Experts" menu features classic and boneless wings with 10 bold, distinctive flavors including Original Hot, Cajun, Atomic, Mild, Teriyaki, Lemon Pepper, Hawaiian, Garlic Parmesan, Hickory Smoked BBQ and Louisiana Rub. Wingstop's wings are always cooked to order, sauced and tossed and served with a variety of house-made sides including Wingstop's award winning hand-cut seasoned fries. Wingstop has experienced 10 consecutive years of positive same store sales increases, was named a Top 10 Best Franchise Deal by QSR magazine, and has been voted "best wings" in markets across the country. Wingstop is owned by Roark Capital Group, an Atlanta-based private equity firm that specializes in business and consumer service companies with attractive growth potential and revenues ranging from $20 million to over $3 billion. For more information visit wingstop.com, wingstopfranchise.com, twitter.com/wingstop or facebook.com/Wingstop.