For fiscal year 2023, the fast-casual brand saw transactions drive 18.3% domestic SSS growth
Wingstop Inc., with 1,926 U.S. restaurants at the end of the Dec. 30-ended fourth quarter 2023, saw its domestic same-store sales rise 21.2% in the period, the company reported Wednesday.
The Dallas-based fast-casual brand, which reported fourth-quarter earnings, said domestic same-store sales for the entire year rose 18.3%, driven mostly by an increase in transactions, and it increased its unit count 13%.
The year “marked the strongest year on record for Wingstop,” said Michael Skipworth, Wingstop’s CEO and president, in a statement. Fourth-quartter same-store sales percentages were calculated excluding the 53rd week in 2022, the company noted.
“The strength of our unit economics were showcased with 255 net new units in 2023, a 13% unit growth rate, and a record level of restaurant development commitments as we enter 2024,” Skipworth said.
Domestic restaurant average unit volumes increased to $1.8 million, the company said. Wingstop plans to debut its own in-house technology platform in the second quarter.
In fiscal guidance, Wingstop said it expects in 2024 to post mid-single digit domestic same-store sales growth and about 270 net new global units.
In the fourth quarter, Wingstop had 115 net new openings
As of Dec. 30, the company had 2,214 Wingstop restaurants systemwide. That included 1,926 restaurants in the United States, of which 1,877 were franchised restaurants and 49 were company-owned, and 288 franchised restaurants were in international markets and U.S. territories.
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