Wingstop Lowers Full-Year Domestic Same-Store Sales Forecast Following Q3 Decline
Wingstop (WING) has revised its full-year domestic same-store sales outlook downward following a third quarter where performance fell below company expectations. President and CEO Michael Skipworth reported that domestic same-store sales declined by 5.4% during the third quarter. As a result of this slowdown, the company now forecasts a domestic same-store sales decline of approximately 6.5% to 7% for the full year. Despite the contraction in existing store sales, Wingstop maintains an aggressive expansion strategy, targeting the opening of 440 to 450 net new restaurants.
Tickers: $WING
Topics: earnings report guidance revision same-store sales decline
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Part of the story Wingstop Updates Domestic Sales Outlook and Outlines Growth Strategy (4 articles)