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Quick-service brand sees U.S. same-store sales increase 20.7% in Q1
Labor pressures in the restaurant industry have also impacted poultry processing, sending bone-in chicken wing prices on the spot market more than 50% higher in the past quarter and increasing food costs, Wingstop Inc. executives said Wednesday.
Michael Skipworth, chief financial officer of the Dallas-based quick-service brand, said on Wingstop’s first-quarter earnings call that the “effective year-over-year increase in the price we paid for wings was 25.8%.”
Skipworth said Wingstop was able to keep the effective price increases lower than the implied market value through a “combination of our data-driven approach to menu pricing and the wing-price mitigation strategy in place with our largest poultry suppliers.” Wingstop’s menu offers bot...
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