Wingstop Inc. (NASDAQ:WING) Q1 2019 Earnings Conference Call - Final Transcript
May 07, 2019 • 04:30 pm ET
Good afternoon, ladies and gentlemen, and thank you for standing by. Welcome to the Wingstop Inc. Fiscal First Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation.
(Operator Instructions) Please note that this conference is being recorded today, Tuesday, May 7, 2019.
On the call, we have Charlie Morrison, Chairman and CEO and Michael Skipworth, Executive Vice President and CFO.
I would now like to turn the conference over to Michael. Please go ahead.
Thank you and welcome. Everyone should have access to our fiscal first quarter 2019 earnings release, a copy is posted under the Investor Relations tab on our website at wingstop.com.
Our discussion today will include forward-looking statements. These forward-looking statements are not guarantees of future performance and therefore you should not place undue reliance on them.
These statements are also subject to numerous risk and uncertainties that could cause actual results to differ materially from what we expect. Our recent SEC filings contain a detailed discussion of the risks that could affect our future operating results and financial condition.
We will also discuss certain non-GAAP financial measures that we believe can be useful in evaluating our performance. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. Reconciliations to comparable GAAP measures are contained in our earnings release.
With that, I would like to turn the call over to Charlie.
Thank you, Michael. And thank you all for joining us today. If you've read the earnings release that Michael just referenced, then you know why it's such a great time to be a part of Wingstop. We had a strong start to 2019 with domestic same-store sales growing 7.1% in the first quarter. This is a 7.1% comp on top of a 9.5% comp in Q1 last year. This same-store sales growth is a testament to the effectiveness of our long-term strategies of driving same-store sales growth, be a growing brand awareness and innovation, maintaining best-in-class unit economics for our franchisees and continuing to expand our global footprint. All of this ladder is up to our vision of building Wingstop into a Top 10 global restaurant brand. We're very excited about all of the positive momentum in our business. To that end, we are equally excited to talk to you about some investments we are making in our company for the long term to create sustainable shareholder value for years to come.
With the kind of growth and success that Wingstop has experienced, it would be natural to rest on our laurels and try to maintain the status quo. But that is not us. At Wingstop, we feel a responsibility to our shareholders, team members and franchisees whom may affectionately refer to as our brand partners to capitalize on our success and position Wingstop for long-term sustainable growth well into the future.
This feeling has been amplified given the