Wingstop Expects Low Double Digit Domestic Same Store Sales Growth (Prior Mid-Single Digit Domestic Same Store Sales Growth)
Portfolio Pulse from Benzinga Newsdesk
Wingstop has updated its 2024 financial outlook, now expecting low double-digit growth in domestic same-store sales, up from previous mid-single-digit projections. The company also anticipates opening 275 to 295 new global units, with SG&A expenses around $111 million and stock-based compensation expenses about $20 million. Depreciation and amortization costs are expected to remain between $18 to $19 million.
May 01, 2024 | 12:09 pm
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Wingstop has raised its 2024 financial outlook, indicating stronger than expected domestic same-store sales growth and plans for significant global expansion.
The upward revision in Wingstop's financial outlook, especially the significant increase in expected domestic same-store sales growth, is a strong positive signal to investors. This indicates that the company is performing well and has a positive outlook on its future growth and profitability. The expansion of global units further supports this positive outlook, suggesting that Wingstop is aggressively pursuing growth opportunities. These factors are likely to be viewed favorably by investors, potentially leading to an increase in stock price in the short term.
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