Finally, some good news in the restaurant industry: Wingstop’s earnings report has beaten the odds of everything 2020 has thrown at them.
Spreading wings. Analysts were expecting 29 cents per share for Wingstop’s second-quarter earnings but surprised everyone with 39 cents per share.
- Systemwide sales were boosted by 37% to $509 million.
- Domestic same-store sales climbed 31.9% (the prediction was only 22.9%).
The digital advantage. Even before the pandemic, 40% of their sales were done online. Then in Q1, this number grew to 47%, and in Q2, they did 65% of transactions online.
How Does it Affect My Wallet?
Flying. Wingstop opened 23 new restaurants in the second quarter and is on track to open 120 to 130 for the year.
Doubling down on digital. The wing company has previously said that their goal is to digitize 100% of their sales.
Deliveries continue to dominate…
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