: Restaurant chain Wingstop fattens profit by 22%, stock up


Wingstop Inc. WING, -0.09% was up 2.6% in premarket trades on Wednesday after the Dallas-based restaurant company said its profit rose by 21.6% while lifting its outlook for full-year same-store sales. Wingstop’s second-quarter net income increased to $16.18 million, or 54 cents a share, from $13.3 million, or 44 cents a share, in the year-ago quarter. The company beat the Wall Street analyst target of 52 cents a share, according to FactSet data. Revenue increased to $107.17 million from $83.78 million, ahead of the analyst view of $105.9 million. Looking ahead, Wingstop said it now expects 2023 domestic same-store sales growth of 10% to 12%, up from its earlier view for a high single-digit percentage increase.

This article was originally published by Marketwatch.com. Read the original article here.

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