Wingstop Inc. (WING - Free Report) reported robust preliminary comparable restaurant sales results for the first quarter of fiscal 2021. Following the news, the company’s shares increased 3.8% in after-hour trading session on Mar 31. In the past year, the sock has surged 59.9% compared with the industry’s rally of 63.4%.
Preliminary Comparable Sales
During the fiscal first quarter, domestic same store sales increased 20.7% year over year or 30.6% on a 2-year basis. In fourth-quarter fiscal 2020, comps increased 30.4% on a two-year basis. Company-owned restaurant same-store sales rose 13.4% year over year compared with 10.4% reported in the last reported quarter.
During the quarter, system-wide sales rose 30% year over year (to approximately $558.9 million) compared with 26.5% growth (or $502.5 million) in the fiscal second quarter.
Meanwhile, digital sales contributed 63.6% to sales during the fiscal first quarter compared with 62.5% in fourth-quarter fiscal 2020.
Charlie Morrison, chairman and chief executive officer at Wingstop, stated, “We opened 41 net new restaurants, a record-high for the first quarter. This is as a result of achieving a key milestone of over $1.5 million AUVs, translating into best in-class unit economics, and our largest development pipeline to-date. I'm confident we are well on our way to becoming a top 10 global restaurant brand.”
Notably, the company has been benefitting from dining room reopenings along with solid off-premise business. The company is scheduled to report first-quarter fiscal 2021 on April 28, 2021.
Zacks Rank & Key Picks
Wingstop currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same space include Darden Restaurants, Inc. (DRI - Free Report) , Jack in the Box Inc. (JACK - Free Report) and Chuy's Holdings, Inc. (CHUY - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Darden 2021 earnings are expected to rise 24.9%.
Jack in the Box has three-five-year earnings per share growth rate of 17%.
Chuy's Holdings has a trailing four-quarter earnings surprise of 126.5%, on average.
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Wingstop Inc. (WING - Free Report) reported robust preliminary comparable restaurant sales results for the first quarter of fiscal 2021. Following the news, the company’s shares increased 3.8% in after-hour trading session on Mar 31. In the past year, the sock has surged 59.9% compared with the industry’s rally of 63.4%.
Preliminary Comparable Sales
During the fiscal first quarter, domestic same store sales increased 20.7% year over year or 30.6% on a 2-year basis. In fourth-quarter fiscal 2020, comps increased 30.4% on a two-year basis. Company-owned restaurant same-store sales rose 13.4% year over year compared with 10.4% reported in the last reported quarter.
During the quarter, system-wide sales rose 30% year over year (to approximately $558.9 million) compared with 26.5% growth (or $502.5 million) in the fiscal second quarter.
Meanwhile, digital sales contributed 63.6% to sales during the fiscal first quarter compared with 62.5% in fourth-quarter fiscal 2020.
Charlie Morrison, chairman and chief executive officer at Wingstop, stated, “We opened 41 net new restaurants, a record-high for the first quarter. This is as a result of achieving a key milestone of over $1.5 million AUVs, translating into best in-class unit economics, and our largest development pipeline to-date. I'm confident we are well on our way to becoming a top 10 global restaurant brand.”
Notably, the company has been benefitting from dining room reopenings along with solid off-premise business. The company is scheduled to report first-quarter fiscal 2021 on April 28, 2021.
Zacks Rank & Key Picks
Wingstop currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same space include Darden Restaurants, Inc. (DRI - Free Report) , Jack in the Box Inc. (JACK - Free Report) and Chuy's Holdings, Inc. (CHUY - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Darden 2021 earnings are expected to rise 24.9%.
Jack in the Box has three-five-year earnings per share growth rate of 17%.
Chuy's Holdings has a trailing four-quarter earnings surprise of 126.5%, on average.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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