CNBC Television
Wingstop CEO on Q3 earnings and the company's 10,000-locations goal
11/4/2025, 11:24:44 PM
Economic Summary
- Wingstop (WING) reported Q3 with same-store sales down 5.6% and lowered full-year guidance, yet shares rose as investors focus on growth initiatives.
- Expansion remains rapid: 114 openings this quarter, guidance for 475–485 new restaurants this year, on track for a 3,000-restaurant milestone, and targeting 10,000+ globally (roughly 6,000 U.S., 4,000 international) with a >1,000-unit opportunity in India.
- Operational improvements from Wingstop Smart Kitchen—2,000+ restaurants live and markets like Dallas–Fort Worth and the Southwest showing mid-single-digit same-store sales outperformance—are expected to drive speed, consistency, and throughput gains over time.
- Management cites disciplined pricing with line of sight into food costs into 2026, plans a new ad campaign and a loyalty launch in Q2 2026, and notes average sales per restaurant have grown by about $0.5M, supporting franchise unit economics.
Bullish
- Record 114 openings; expanding over one restaurant per day.
- Smart Kitchen rollout boosting same-store sales and operational consistency.
- Loyalty program launching Q2 2026 and large long-term expansion potential.
Bearish
- Same-store sales declined 5.6% and company lowered full-year guidance.
- Consumer pullback broadened to middle-income, pressuring demand.
Bullish tickers
WING
Bearish tickers
WING
WING
Bullish
Strong unit economics, record openings, Smart Kitchen rollout, upcoming loyalty program, and sizable international pipeline (including India) provide multi-year growth runway.
Bearish
Short-term risk from declining same-store sales (down 5.6%) and a lowered guidance; a broader consumer pullback could extend weak comps.
People mentioned
Michael SkipworthKate