Why you can now finally get chicken thighs from this buffalo wing chain
If you like buffalo wings from Wingstop (WING), the chain’s CEO Charlie Morrison hopes you like its new thighs as well.
It may look zany at first blush to see a restaurant chain known for its top-shelf wings now hawking juicy thighs (note: rival Buffalo Wild Wings does not sell thighs) in a two for $5.99 deal in seven test markets, but it’s what has to be done amid robust wing price inflation. Wingstop’s bone-in thigh tests began two weeks ago as a means to counteract rising wing prices.
In fact, it’s very likely other wing-focused chains follow Wingstop into the saucy chicken thigh revolution.
“We do believe thighs present another protein option for us that does well with our core offering which is bone-in chicken wings and boneless chicken tenders,” Morrison told Yahoo Finance Live. “For us, it takes some pressure off bone-in wings which we have seen those prices go pretty high.”
Prices for wings remain on the rise, per recent data from the Department of Agriculture. The gains reflect more people ordering wings from big chains during the pandemic from mobile ordering platforms.
Wingstop’s latest food option may help to keep sales and profits hot in the quarters ahead.
The company said Monday that its third quarter domestic same-store sales surged 25.4%. Wingstop is on track to achieve an uncanny 17th straight year of same-store sales increases. Morrison tells Yahoo Finance the company is eyeing an expansion into China in an effort to grow to 6,000 restaurants from 1,500 or so currently.
“The comp [sales] story remains potent,” said Jefferies analyst Andy Barish.
Wingstop shares are up 35% year-to-date, making it among the top performers in the restaurant space.
Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.
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