4 new international markets for Wingstop

Wingstop, a Texas-based chicken wing restaurant chain, is expanding its international reach, identifying four new global markets where it is planning to create a presence.

Roy Graber Headshot
Photo courtesy of Wingstop
Photo courtesy of Wingstop

Wingstop, a Texas-based chicken wing restaurant chain, is expanding its international reach, identifying four new global markets where it is planning to create a presence.

Presently, there are 112 Wingstop locations in eight international markets, Wingstop CEO Charlie Morrison said on May 3 during a conference call in which the company released its financial results for the first quarter of fiscal year 2018. However, Morrison said that it plans tur further extend its international reach with restaurant openings in the U.K., France, Australia and Panama.

“Our focus in 2018 is centered around ensuring a successful introduction of the Wingstop brand to these new markets,” said Morrison.

“As such, we do not anticipate much activity in the area of new international territory sales in 2018,” he added.

Other geographical markets

In 2016, Wingstop announced other international expansion plans after it reached an exclusive development agreement for 100 new restaurants in the Kingdom of Saudia Arabia over the next ten years.

The company, as of the end of March, had has 1,045 restaurants in the United States, of which 1,021 were franchised restaurants and 24 of them were company owned. During the first quarter of the fiscal year, 24 new restaurants opened, six of which were international franchised locations.

In addition to having restaurants in the U.S. and Saudia Arabia, Wingstop restaurants can also be found in Mexico, Singapore, the Philippines, Indonesia, United Arab Emirates Malaysia and Colombia.

Financial results of the first quarter of FY 2018

When reporting its financial results on May 3, Wingstop noted that its net income for the quarter was $6.2 million, down slightly from the $6.3 million reported for the first quarter of fiscal year 2017.

On a year-over-year basis, Wingstop’s system-wide sales increased 20.4 percent to $313 million, and the system-wide restaurant count increased by 12.2 percent.

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