Wingstop's stock surges 66% after launching 12 new chicken sandwiches and reporting strong sales growth.
Sectors & Industries
September 19, 2024
Wingstop has officially launched its 12 new chicken sandwiches, offering flavor varieties to satisfy every taste. These sandwiches were a hit during market tests and part of Wingstop’s plan to drive sales growth, which also includes their core chicken wings and value bundles.
Wingstop’s stock has been soaring, up 66% over the last month. In 2023, they reported 18% same store sales growth and total sales growth of 27.1% to $3.5 billion.
At the end of 2023, there were over 2,200 Wingstop locations and the CEO intends to grow the company to over 7,000 in the coming years. Each restaurant is estimated to make $1.67 million yearly revenue and $250,500 EBITDA annually for its franchise operators.
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