Wingstop Restaurants Inc. (NASDAQ:WING), the award-winning wing
concept with more than 1,100 locations globally, today announced
that it has opened its first franchise restaurant in Panama City,
Panama, now the ninth international operating country for Wingstop.
The opening is part of an international expansion agreement
with Operadora de Restaurantes Orna, a newly formed restaurant
group comprised of Grupo Lujor, a Master Wingstop Franchisee from
Mexico, and International Brands Panama as the local operating
partners. Operadora de Restaurantes Orna and Wingstop have plans to
open an additional two locations in 2018, with a long-term goal of
ten total locations over the next five years across Panama.
“Expanding Wingstop into our ninth country outside the U.S.
continues our growth trajectory towards the brand becoming a top 10
global restaurant brand,” said Larry Kruguer, Chief Operating
Officer at Wingstop. “Panama is a major country in Central America
with an affinity for American brands, and we’re excited to enter
our third country in Latin America with a team that knows our
brand so well.”
“We're honored to be a part of the Wingstop family and
eager to bring this exciting and well-respected brand to Panama,”
said Stephen Naar, Partner at Operadora de Restaurantes Orna. “We
are looking forward to growing our partnership and establishing the
brand over the next five years to bring the best of what Wingstop
has to offer to Panamanians.”
For more information, please visit www.wingstop.com or follow
along on Instagram @WingstopPTY.
About WingstopFounded in 1994 and headquartered
in Dallas, Texas, Wingstop Inc. (NASDAQ:WING) operates and
franchises more than 1,100 locations across the United States,
Mexico, Singapore, the Philippines, Indonesia, the United Arab
Emirates, Malaysia, Saudi Arabia, Colombia and Panama. The Wing
Experts’ menu features classic and boneless wings with 11 bold,
distinctive flavors including Original Hot, Cajun, Atomic, Mild,
Teriyaki, Lemon Pepper, Hawaiian, Garlic Parmesan, Hickory Smoked
BBQ, Louisiana Rub, and Mango Habanero. Wingstop’s wings are always
cooked to order, hand-sauced and tossed and served with a variety
of house-made sides including fresh-cut, seasoned fries. Having
grown its domestic same store sales for 14 consecutive years, the
Company has been ranked #3 on the “Top 100 Fastest Growing
Restaurant Chains” by Nation’s Restaurant News (2016), #7 on the
“Top 40 Fast Casual Chains” by Restaurant Business (2016), and was
named “Best Franchise Deal in North America” by QSR magazine
(2014). Wingstop was ranked #88 on Fortune’s 100 Best Medium
Workplaces list in October 2016. Follow us on facebook.com/Wingstop
and Twitter @Wingstop.
Forward-looking InformationCertain statements
contained in this news release, as well as other information
provided from time to time by Wingstop Inc. or its
employees, may contain forward-looking statements that involve
risks and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. You can
identify forward-looking statements by the fact that they do not
relate strictly to historical or current facts. These statements
may include words such as “guidance,” “anticipate,” “estimate,”
“expect,” “forecast,” “project,” “plan,” “intend,” “believe,”
“confident,” “may,” “should,” “can have,” “likely,” “future” and
other words and terms of similar meaning in connection with any
discussion of the timing or nature of future operating or financial
performance or other events. Examples of forward-looking statements
that could appear in this news release include our fiscal year 2018
outlook for new restaurant openings, domestic same store sales
growth, SG&A expenses, net income, EBTIDA, adjusted EBITDA,
adjusted net income, adjusted earnings per diluted share and our
diluted share count, as well as our anticipated potential domestic
restaurant expansion opportunity, positioning to make progress
towards domestic restaurant potential and progress toward our goal
of becoming a top 10 global restaurant brand.
Any such forward-looking statements are not guarantees of
performance or results, and involve risks, uncertainties (some of
which are beyond the Company’s control) and assumptions. Although
we believe any forward-looking statements are based on reasonable
assumptions, you should be aware that many factors could affect our
actual financial results and cause them to differ materially from
those anticipated in any forward-looking statements. Please refer
to the risk factors discussed in our Form 10-K for the year ended
December 30, 2017, which can be found at the SEC’s
website www.sec.gov. The discussion of these risks is
specifically incorporated by reference into this news release.
Any forward-looking statement made by Wingstop Inc. in
this press release speaks only as of the date on which it is made.
We undertake no obligation to update any forward-looking statement,
whether as a result of new information, future developments or
otherwise, except as may be required by law.
Media Contact
Brian Bell
972-707-3956
bbell@wingstop.com
Gurion Kastenberg
212-738-6124
gurion.kastenberg@edible-inc.com
Wingstop (NASDAQ:WING)
Historical Stock Chart
From Mar 2024 to Apr 2024
Wingstop (NASDAQ:WING)
Historical Stock Chart
From Apr 2023 to Apr 2024