Wingstop Breaks Its Record for Store Openings in 2008
Continues streak - now 22 consecutive quarters of comp store sales increases
DALLAS, Jan. 8 // PRNewswire // -- Despite the economy, Wingstop finished 2008 strongly. Today, Wingstop President and CEO James A. Flynn announced that the chain opened a record 71 stores during the year, bringing the total to 397, and for the 22nd consecutive quarter comp store sales increased.
The successive increase for the fourth quarter of 2008 was 4.2 percent, and the year was up 6.5 percent over the year prior. Systemwide sales for 2008 were $255,400,000, up 23.6 percent from 2007 sales of $206,600,000.
"It was a fantastic year, one that we worked hard to bring in," said Flynn. "We did a great job of containing our costs and maintaining low price points for our customers. All in all, everyone systemwide stepped up and made 2008 a real winner."
While a recent Nation's Restaurant News online survey reported that 40.5 percent of the restaurants surveyed expect that 2009 will be worse than 2008, Flynn is optimistic for the year.
"Wingstop is now selling over a million wings per day and we just surpassed the 1.5 billion wings sold mark," said Flynn. "Last year's trend of consumers gravitating toward lower price points and higher quality products will continue, and we should benefit from this trend."
Wingstop was honored in 2008 with a Golden Chain Award, one of only 6 companies to receive the distinction.
Wingstop offers restaurants with a nostalgic, aviation-themed atmosphere where the sole focus is on chicken wings. The chain also serves boneless wing strips made from 100 percent all-white meat chicken breast coated with a proprietary batter and breading. Wingstop features nine wing flavors: Original Hot, Cajun, Atomic, Mild, Teriyaki, Lemon Pepper, Hawaiian, Garlic Parmesan, and Hickory Smoked BBQ. The wings are always made-to-order and served steaming hot. Customers also can choose from homemade side dishes including fresh-cut seasoned fries, bourbon baked beans, pearl potato salad, creamy cole slaw, vegetable sticks, rolls and assorted dipping sauces.
Wingstop has more than 600 restaurants either open or under development in 32 states and consistently tops industry growth rankings. Wingstop is 125th on Entrepreneur's 2008 Franchise 500 list. In June 2008, Wingstop won an American Business Award, a 'Stevie', for Best Overall Company. In 2007, they were deemed Most Innovative Company with a Stevie. The chain was also chosen Wing King at the 2006 National Buffalo Wing Festival. Troy Aikman, three-time Super Bowl champion and Hall of Fame quarterback, has served as the chain's national spokesman since 2003.