Wingstop Restaurants has reported a 13.8% increase in its total revenue in the fiscal fourth quarter (Q4) of 2021, rising to $72m compared to $63.3m in fiscal Q4 2020.
The restaurant chain’s total revenue for the fiscal year 2021 also grew 13.5% to $282.5m.
Additionally, the company’s royalty revenue, franchise fees and others increased by $5.1m due to 7.5% growth in domestic same-store sales.
During the quarter, net income increased to $6.9m, or $0.23 per diluted share, in comparison to a net loss of $6.4m, or a loss of $0.21 per diluted share, in the same period a year ago.
Net income for the fiscal year 2021 also increased to $42.7m, or $1.42 per diluted share, as against $23.3m, or $0.78 per diluted share, in the prior fiscal year.
In Q4, which ended on 25 December 2021, Wingstop’s system-wide sales increased 19.8% to $601.9m, and for Q4 of the fiscal year 2021, these sales increased 20.2% to $2.3bn.
In Q4 2021, domestic same-store sales rose 7.5%, while the domestic same-store sales for the entire fiscal year grew 8%.
Wingstop’s digital sales were 61.3%, comparable to the fiscal Q4 of the previous year.
During the quarter, Wingstop opened 58 net new restaurants, contributing to its total of 193 new restaurants in the fiscal year.
Wingstop Restaurants chairman and CEO Charlie Morrison said: “Our Q4 and full-year results reflect continued momentum in our brand, despite the challenging operating environment.
“Our brand partners understand the strength and resiliency of our simple operating model and are increasing new unit investments based on the sustaining topline growth and in anticipation of improving bottom-line performance.”