Wingstop Inc. Provides Business Update and Releases Preliminary First Quarter 2020 Sales Results

DALLAS, April 07, 2020 (GLOBE NEWSWIRE) -- Wingstop Inc. (“Wingstop” or the “Company”) (NASDAQ: WING) today released preliminary unaudited sales and unit development results from the fiscal first quarter ahead of its first quarter earnings release, which is scheduled for May 6, 2020.

Open Letter from Charlie Morrison, Chairman and CEO of Wingstop:

As I reflect on these unprecedented times, I’d like to thank the thousands of team members working in Wingstop restaurants for their continued commitment to serving our guests and our franchisees, whom we affectionately call our brand partners, as we navigate this difficult situation.

Several weeks ago, Wingstop, anchored in our core values, began our journey of navigating the ever-changing COVID-19 crisis. Our core values of being authentic, service-minded, and entrepreneurial, or what we refer to as The Wingstop Way, have guided our response these past few weeks and will continue to guide our approach in the future.

Authentic – Not only does this speak to our high-quality, cooked-to-order products, but we strive to be transparent and genuine in our decision making. As information becomes available and is rapidly accessed, this is passed on to our stakeholders, including our team members, brand partners, and guests.

Service-Minded – The needs of our stakeholders are at the forefront. This translates to a sense of urgency as we aim to be proactive in assessing all stakeholder needs.

Entrepreneurial – While these are extraordinary times, we have acted swiftly to make decisions that we believe are the best for our brand and stakeholders. 

The foundation of The Wingstop Way led us to focus on the following priorities in response to the various challenges created by COVID-19:

Support the well-being and safety of our team members, brand partners, and guests

The health and safety of our team members, brand partners and guests has, and always will be, our top priority. As COVID-19 began to escalate, we reemphasized our robust and frequent cleaning procedures to ensure both guest and team member safety. We moved quickly with our entrepreneurial spirit to establish a COVID-19 task force consisting of cross-functional leadership to facilitate a constant flow of information enabling swift, strategic decision making during this crisis. This included closing our dining rooms and modifying our operating procedures to ensure a clean and safe environment, as well as enacting various safety measures to ensure proper social distancing and the protection of our guests and our team members. We have sourced and will distribute thermometers and protective equipment for each restaurant in our system as additional precautionary measures.