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WING) and its consolidated subsidiaries are referred to as the “Company,” “Wingstop,” or in the first-person notations of “we,” “us,” and “our.”
−Removed: Wingstop is the largest fast casual chicken wings-focused restaurant chain in the world, with over 2,200 locations worldwide.
+Added: Wingstop is the largest fast casual chicken wings-focused restaurant chain in the world, with more than 2,550 locations worldwide.
The first Wingstop opened in Garland, Texas in 1994, and we began franchising Wingstop restaurants in 1997.
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The foundation of this approach is our culture, which we define as The Wingstop Way, our investment in people as a competitive advantage necessary to continue to scale our organization for the next phase of growth, and our cultivation of a global mindset.
−Removed: The Wingstop Way includes core values centered around being Authentic, Entrepreneurial, Service-minded, and Fun.
−Removed: The Wingstop Way extends to the brand’s environmental, social and governance platform as Wingstop seeks to provide value to all guests.
Sustaining Long-Term Same Store Sales Growth
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The national advertising program supports elevated marketing spend and premium placements through an extensive range of social media and digital marketing channels, including search engine, digital video, and social media advertising, to allow us to target core customers and create top of mind consideration with relevant, impactful messaging.
−Removed: The national advertising program also supports our digital initiatives and related strategies, including our focused investments in customer relationship management (“CRM”) and our digital platform, which allows us to deploy a digital platform-based marketing strategy.
+Added: The national advertising program also supports our digital initiatives and related strategies, including our focused investments in customer relationship management and our proprietary digital platform, which allows us to deploy a digital platform-based marketing strategy.
As a result of these investments, we continue to sustain digital sales above 60%.
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This increase is consistent with our strategy to grow with our existing franchisees.
−Removed: As of December 30, 2023, our domestic franchise base of 216 franchisees had an average restaurant ownership of approximately nine restaurants per franchisee and an average tenure of fourteen years.
+Added: As of December 28, 2024, our domestic franchise base of 196 franchisees had an average restaurant ownership of approximately eleven restaurants per franchisee and an average tenure of ten years.
Franchise Agreements
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The national advertising fund contribution rate increased to 5.3% from 5%, effective the first day of the fiscal second quarter 2024.
−Removed: These funds are managed by the Ad Fund and are primarily used to create advertising content and purchase digital and television advertising on a national level.
−Removed: Beginning the second fiscal quarter 2024, the advertising fund contribution rate will increase to 5.3% to support digital and technology-related costs.
+Added: These funds are managed by the Ad Fund and are primarily used to create advertising content and purchase digital and television advertising on a national level, as well as to support digital and technology-related costs.
+Added: Beginning the fiscal first quarter of 2025, the advertising fund contribution rate will increase to 5.5% to support digital and technology-related costs.
International Franchise Agreements
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Currently, there are 21 geographically diverse distribution centers, which carry all products required for a Wingstop restaurant and service all of Wingstop’s domestic restaurants.
−Removed: The distributor is contractually obligated to deliver products to our restaurants at least twice weekly, and provides consolidated deliveries with a tightly controlled and monitored cold chain for perishable items.
+Added: The distributor is contractually obligated to deliver products to our restaurants at least twice weekly, and provides consolidated deliveries with a tightly controlled and monitored cold chain for
+Added: perishable items.
The distributor’s national distribution system has a documented recovery plan to handle any disruption.
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Information / Technology Systems
−Removed: We have core information systems in place that, together with focused investments we are making in technology (including our digital platform), we believe are designed to scale and support our future growth plans.
+Added: We have core information systems in place that, together with focused investments we are making in technology (including our proprietary digital platform), we believe are designed to scale and support our future growth plans.
We specify a POS system and restaurant management system in all domestic restaurants that help facilitate the operation of the restaurants by recording sales, purchasing and inventory of goods, managing of labor and assessing restaurant performance.
Our POS system and restaurant management system is configured to record and store financial information in a manner that we specify, and we require franchisees to provide us with continual and unlimited independent access to all information on each POS system.
−Removed: We have an online ordering platform and mobile ordering applications that integrate with third party delivery providers and our POS system, which makes it easy for our guests to order-ahead, and which we believe leads to higher check averages.
+Added: We have a proprietary online ordering platform and mobile ordering applications that integrate with third party delivery providers and our POS system, which makes it easy for our guests to order-ahead, and which we believe leads to higher check averages.
We require our franchisees’ electronic information systems, including POS systems, to comply with and be maintained in accordance with established network security standards, including applicable Payment Card Industry and data privacy standards.
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We invest in people and infrastructure to build the organization for the next level.
−Removed: In addition to seeking to acquire new talent in the marketplace that share our values and goals, we recognize and support the growth and development of our team members and offer opportunities to participate in regular talent and development planning reviews to assist us with growing our internal restaurant teams.
+Added: In addition to seeking to acquire new talent in the marketplace that share our values and goals, we recognize and support the growth and development of our team members
+Added: and offer opportunities to participate in regular talent and development planning reviews to assist us with growing our internal restaurant teams.
Government Regulation
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We are not aware of any federal, state or local environmental laws or regulations that we would expect to materially affect our earnings or competitive position or result in material capital expenditures.
−Removed: However, increased focus on environmental matters by legislative, governmental or other authorities may lead to new regulatory initiatives, particularly in the area of climate change.
+Added: However, increased focus on environmental matters by legislative, governmental or other authorities may lead to new regulatory initiatives, particularly in the area of climate
We cannot predict the effect of possible future environmental legislation or regulations (including those related to climate change).
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Community Involvement
−Removed: In 2016, we created Wingstop Charities, a non-profit organization dedicated to enhancing and elevating the community work of our franchisees to make a difference in the communities we serve.
−Removed: We are committed to strengthening those communities through the Wingstop Charities Community Grant Program, which supports nonprofit organizations focused on education, sports, entrepreneurship, the environment, and food.
−Removed: In fiscal year 2023, more than 100 community organizations received grant
−Removed: funding totaling over $1.3 million from Wingstop Charities, including our first national partnership with No Kid Hungry.
−Removed: Since its inception, Wingstop Charities has awarded over 300 grants and contributed more than $3 million across three key programs:
+Added: Wingstop Charities, a non-profit organization, is committed to strengthening the communities that we serve by being strong, active, corporate citizens, and good neighbors.
+Added: We’ve expanded our reach and impact by forming partnerships with No Kid Hungry, St.
+Added: Jude Children’s Research Hospital, and the American Red Cross, funded by the growth of our Round Up Program, which allows our guests to contribute to the great work of these organizations.
+Added: Since its inception, Wingstop Charities has awarded more than 300 grants and contributed more than $6 million across three key programs:
Community Grants, Team Member Assistance, and the Morrison Family Scholarship Program.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.