Wingstop CEO on Q3 earnings and the company's 10,000-locations goal

Core Insights - Wingstop reported a decline in same-store sales of 5.6% for the third quarter, which was more than anticipated, and lowered its full-year guidance, yet the company continues to expand aggressively with a record 114 openings this quarter, aiming for over 10,000 locations globally [1][3][9] Company Performance - The company has experienced two years of strong same-store sales growth of nearly 40%, but is now facing broader consumer pressures, particularly among lower-income and middle-income demographics [3][4] - Despite the decline in same-store sales, the company sees strength in brand health metrics, particularly in the dinner segment, which grew during the third quarter [5][6] Growth Strategy - Wingstop is focusing on long-term growth strategies, including the rollout of the Wingstop Smart Kitchen and a new advertising campaign, with plans to launch a loyalty program by the second quarter of 2026 [6][7] - The company anticipates growth in 2026 that is not heavily reliant on changes in the macroeconomic environment [7] Expansion Plans - Wingstop is on track to open between 475 and 485 new restaurants this year, with a goal of reaching 3,000 restaurants by the end of the fourth quarter [9][10] - The company has entered five new countries this year and plans to enter three more by early 2026, with a long-term opportunity of over 1,000 restaurants in India [14][15] Operational Efficiency - The new kitchen operating platform has shown positive results, with same-store sales growth spreading across the system, indicating a long-term opportunity for operational improvements [12][13] - The company is not planning to reduce prices, focusing instead on quality and maintaining brand strength in the face of industry-wide pricing challenges [16][18]