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Wingstop

From Wikipedia, the free encyclopedia

Wingstop Inc.
Company typePublic
IndustryRestaurants
GenreFast casual fast food restaurant
Founded1994; 30 years ago (1994)
Garland, Texas, U.S.
Founders
  • Antonio Swad
  • Bernadette Fiaschetti
HeadquartersAddison, Texas, U.S.[1]
Number of locations
1,413 as of March 28, 2020[1]
Area served
[2]
Key people
Michael J. Skipworth (CEO)
ProductsChicken wings, chicken tenders, french fries, soft drinks
RevenueIncrease US$$282.5 million (FY 2021)[3]
Increase US$73.7 million (FY 2021)[3]
Increase US$42.6 million (FY 2021)[3]
Total assetsIncrease US$249.2 million (FY 2021)[3]
Total equityIncrease US$249.2 million (FY 2021)[3]
Number of employees
4,000 (2021)
Websitewingstop.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.

The restaurant chain was founded in 1993 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

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Wingstop was founded in 1993 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]

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Wings and fries from Wingstop
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

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  1. ^ a b Ruggless, Ron (June 25, 2019). "Wingstop to relocate headquarters". Nations Restaurant News. Archived from the original on June 26, 2019. Retrieved June 26, 2019.
  2. ^ "Wingstop pushes international expansion". Nation's Restaurant News. February 12, 2014. Archived from the original on May 15, 2022. Retrieved May 15, 2022.
  3. ^ a b c d e "WING Financials". Nasdaq. January 30, 2021. Retrieved March 5, 2022.
  4. ^ "Wingstop Inc. Announces New Corporate Headquarters in Addison, TX". Wingstop. June 25, 2019. Archived from the original on December 7, 2019. Retrieved December 7, 2019.
  5. ^ "Roark Capital Group Acquires Wingstop" (PDF) (Press release). Roark Capital Group. Archived from the original (PDF) on January 20, 2013. Retrieved April 18, 2012.
  6. ^ Nasr, Reem (June 12, 2015). "Wingstop surges in IPO to close 61% higher". CNBC. Archived from the original on April 25, 2019. Retrieved April 25, 2019.
  7. ^ "Wingstop". wingstop.com. Archived from the original on May 9, 2019. Retrieved April 27, 2021.
  8. ^ "Wingstop Rolls Out Boneless Wings". QSR magazine. Archived from the original on April 23, 2021. 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). Archived from the original on April 23, 2021. 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. Archived from the original on August 6, 2024. Retrieved May 15, 2022.
  11. ^ "2016 Top 100: Why Wingstop is the No. 3 fastest-growing chain". Nation's Restaurant News. June 28, 2016. Archived from the original on May 15, 2022. Retrieved May 15, 2022.
  12. ^ Carnette, Jamal (December 28, 2020). "Up 600% in 5 Years, Is Wingstop Just Getting Started?". NASDAQ. Archived from the original on April 23, 2021. Retrieved April 23, 2021.
  13. ^ "Wingstop's profit more than doubles in 2015". Nation's Restaurant News. March 3, 2016. Archived from the original on October 3, 2022. 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. Archived from the original on April 23, 2021. 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. Archived from the original on August 18, 2022. 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). Archived from the original on August 30, 2022. 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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