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Wingstop

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Not to be confused with WingStreet.

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
Key people
Charles R. Morrison (CEO)
ProductsChicken wings, chicken tenders, french fries, soft drinks
RevenueIncrease US$$282.5 million (FY 2021)[2]
Increase US$73.7 million (FY 2021)[3]
Increase US$42.6 million (FY 2021)[4]
Total assetsIncrease US$249.2 million (FY 2021)[5]
Total equityIncrease US$249.2 million (FY 2021)[6]
OwnerRoark Capital Group
Number of employees
4,000 (2021)
Websitewingstop.com

Wingstop Inc. is an American multinational chain of aviation-themed restaurants specializing in chicken wings. Wingstop locations are decorated following a 1930s and 1940s pre-jet aviation theme.

The restaurant chain was founded in 1994 in Garland, Texas, and began offering franchises in 1997. Since then, Wingstop has grown into a chain with over 1,400 restaurants. The chain is headquartered in Addison, Texas.[7]

In 2003, the chain was acquired by Gemini Investors, which sold it to Roark Capital Group in 2010.[8] Wingstop went public in 2015.[9]

History

Wingstop was founded in 1994 in Garland, Texas by Antonio Swad. The first franchised location opened in 1997, and by 2002 the brand had served one billion wings.[10]

In 2005, Wingstop opened its doors for lunch and in 2009 rolled out its boneless product.[11]

Wingstop went global in 2010 with its first international restaurant opening in Mexico.[12] It currently operates in 12 countries.

Wingstop was the third-fastest-growing restaurant chain in the US from 2014 and 2016 as measured by both systemwide sales and unit growth, according to Nation's Restaurant News.[13][14]

In 2015, Wingstop went public at an initial public offering price of $19 per share.[15] That year, the franchise's profits more than doubled.[16]

In 2019, Wingstop unveiled the tagline Where Flavor Gets Its Wings.[17] The next year, Wingstop launched national delivery with DoorDash[18] and celebrated 25 years in business.[19]

Wings and fries from Wingstop

The menu consists of chicken wings, boneless wings, and chicken tenders with various dips and sides.

The flavors available in the US include Hawaiian, Garlic Parmesan, Lemon Pepper, Mild, Original Hot, Hickory Smoked BBQ, Atomic, Mango Habanero, Cajun, Louisiana Rub, and Spicy Korean Q.

Previous U.S. market limited time offer flavors include Brazilian Citrus Pepper, Harissa Lemon Pepper, Ancho Honey Glaze, and "flavor mashups" consisting of a mix of two existing flavors during the brand's 25 Days of Flavor campaign in 2019,[20] including Hot Lemon, Dragon's Breath, and more. In 2021, Wingstop brought back Hot Lemon, Lemon Garlic, and Bayou BBQ for a limited time.[21]

Wingstop Charities

Wingstop Charities encompasses youth and their passions, ranging from education, arts, sports, career development and more. The mission for Wingstop Charities is Engaging Our Youth in the Pursuit of Their Passions.

The Wingstop Team Member Foundation is funded by employees and provides direct support to team members experiencing a financial hardship due to an emergency.[22]

Locations

A Wingstop Restaurant in Irving, Texas

Wingstop opened its first international location in Mexico in 2011, where it now counts 20 locations.[23] As of 2022, Wingstop has locations in the United States, United Kingdom, Australia, Saudi Arabia, Indonesia, Malaysia, Mexico, Panama, Russia, Singapore, Colombia, and United Arab Emirates.[24]

ThighStop

On June 21, 2021, WingStop announced a digital-only restaurant called ThighStop, which includes the same menu items as WingStop, but sells thighs instead of wings. The company cited cost-saving measures as the reason for the change.[25]

See also

References

  1. ^ a b Ruggless, Ron (June 25, 2019). "Wingstop to relocate headquarters". Nations Restaurant News. Retrieved June 26, 2019.
  2. ^ "WING Financials". Nasdaq. January 30, 2021.
  3. ^ "WING Financials". Nasdaq. January 30, 2021.
  4. ^ "WING Financials". Nasdaq. January 30, 2021.
  5. ^ "WING Financials". Nasdaq. January 30, 2021.
  6. ^ "WING Financials". Nasdaq. January 30, 2021.
  7. ^ "Wingstop Inc. Announces New Corporate Headquarters in Addison, TX". Wingstop. June 25, 2019. Retrieved December 7, 2019.
  8. ^ "Roark Capital Group Acquires Wingstop" (PDF) (Press release). Roark Capital Group.
  9. ^ Nasr, Reem (June 12, 2015). "Wingstop surges in IPO to close 61% higher". Retrieved April 25, 2019.
  10. ^ "Wingstop". www.wingstop.com. Retrieved April 27, 2021.
  11. ^ "Wingstop Rolls Out Boneless Wings". QSR magazine. Retrieved April 27, 2021.
  12. ^ Inc, Wingstop Restaurants (September 23, 2019). "Wingstop to Double Current Presence in Mexico". GlobeNewswire News Room (in French). Retrieved April 27, 2021. {{cite web}}: |last= has generic name (help)
  13. ^ "2014 Top 100: Why Wingstop is the No. 3 fastest-growing chain". Nation's Restaurant News. July 3, 2014. Retrieved May 15, 2022.
  14. ^ "2016 Top 100: Why Wingstop is the No. 3 fastest-growing chain". Nation's Restaurant News. June 28, 2016. Retrieved May 15, 2022.
  15. ^ Carnette, Jamal (December 28, 2020). "Up 600% in 5 Years, Is Wingstop Just Getting Started?". NASDAQ.{{cite web}}: CS1 maint: url-status (link)
  16. ^ "Wingstop's profit more than doubles in 2015". Nation's Restaurant News. March 3, 2016. Retrieved May 15, 2022.
  17. ^ "Wingstop". www.wingstop.com. Retrieved April 27, 2021.
  18. ^ "Wingstop Begins Nationwide Rollout of Delivery with DoorDash in Dallas-Fort Worth". QSR magazine. Retrieved April 27, 2021.
  19. ^ Inc, Wingstop Restaurants (July 2, 2019). "Wingstop Celebrates 25th Anniversary with 25 Days of Flavor". GlobeNewswire News Room. Retrieved April 27, 2021. {{cite web}}: |last= has generic name (help)
  20. ^ "Wingstop Celebrates 25th Anniversary with 25 Days of Flavor". ir.wingstop.com. Retrieved April 27, 2021.
  21. ^ Wingstop (February 11, 2021). "Wingstop's "Remix" Flavors Hot Lemon, Lemon Garlic, and Bayou BBQ are BACK!". wingsider.wingstop.com. Retrieved April 27, 2021.{{cite web}}: CS1 maint: url-status (link)
  22. ^ "Wingstop Foundation Supports Team Members in Need". WINGSIDER. June 7, 2019. Retrieved April 27, 2021.
  23. ^ "Wingstop pushes international expansion". Nation's Restaurant News. February 12, 2014. Retrieved May 15, 2022.
  24. ^ "At 25, Wingstop has no plans to slow down". Nation's Restaurant News. July 22, 2019. Retrieved May 15, 2022.
  25. ^ Business, Danielle Wiener-Bronner, CNN. "There's a chicken wing shortage. So this chain wants you to start loving thighs". CNN. Retrieved July 15, 2021. {{cite web}}: |last= has generic name (help)CS1 maint: multiple names: authors list (link)
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