Here's Why Wingstop Stock Flew to an All-Time High Today
Shares of restaurant chain (NASDAQ: WING) flew to an all-time high today after the company reported financial results for the first quarter of 2023. As of 3:36 p.m. ET, Wingstop stock was up 10% for the day and had briefly surpassed a price per share of $221.
Wingstop has company-operated restaurants in the U.S. as well as franchised locations both domestically and internationally. In Q1, systemwide sales (which includes both company-operated and franchised locations) were up a whopping 30% year over year. And for what it's worth, this wasn't an easy year-over-year comparison -- systemwide sales were up 13% in the same quarter of last year.
The systemwide-sales growth was impressive enough. But perhaps even more impressive was Wingstop's same-store-sales growth. After a location has been open for one year, it's added to the same-store base and management tracks sales at those locations over time.
Source Fool.com
