Wingstop Inc. has filed registration statement for its IPO with the Securities and Exchange Commission. The proposed public offering is expected to consist of common stock offered by Wingstop and selling stockholders. The company will not receive any of the proceeds from the sale of shares being sold by the selling stockholders in this proposed offering. The number of shares to be sold and the price range for the proposed offering have not yet been determined. The Dallas, Texas-based quick casual chain has more than 750 restaurants open across the United States, Mexico, Russia, Singapore, the Philippines and Indonesia, with locations coming soon to the United Arab Emirates. Wingstop has experienced eleven consecutive years of positive sales increases. It is owned by affiliates of Roark Capital Group, an Atlanta-based private equity firm that specializes in business and consumer service companies with attractive growth prospects and revenues ranging from $20 million to over $3 billion. (972/686-6500 www.wingstop.com)........
In early May, Wendy's Co. stated that it plans to sell 380 of its company-owned units to franchisees in 2015 and 260 restaurants in 2016. Earlier in the year it had reported that it planned to sell 500 restaurants to franchisees. Wendy's has been selling off its company-owned restaurants to franchisees to ensure a more predictable cash flow and higher margins. "Our previously announced plan to reduce our ownership of company-operated restaurants also remains on schedule," said President and CEO Emil Brolick. "Given the success of the first phase of our system optimization initiative, we have re-engaged The Cypress Group to assist with the divestiture of the 540 remaining domestic restaurants targeted for sale to franchisees. Wendy's plans to own just five percent of its stores by mid-2016. For its first quarter 2015, same-restaurant sales increased 2.6 percent at North America company-operated restaurants while same-restaurant sales increased 3.4 percent at North America franchise-operated restaurants. Systemwide same-restaurant sales increased 3.2 percent during the first quarter of 2015. Consolidated revenues were $466.2-million in the first quarter of 2015, compared to $523.2 million in the first quarter of 2014. The 10.9 percent decrease resulted from the ownership of 240 fewer company-operated restaurants at the end of the 2015 first quarter compared to the end of the 2013 fourth quarter. (888/624-8140 www.wendys.com) ……….
The Subway chain of restaurants is celebrating a growth milestone with the opening of its 5000th convenience store and truck stop location in Lima, Peru. The brand has increasingly focused its growth in these attractive and opportunistic non-traditional locales due to flexible space requirements and adaptable floor plans. The Subway brand now has 10,498 restaurants in non-traditional locations—nearly a quarter of the brand’s global portfolio falling under the category. The first Subway restaurant located in a C-store opened in 1990. In addition to the 5000 C-stores and truck stops, Subways can also be found in colleges and universities, grocery stores, hospitals, department stores and over 1950 are in WalMart locations. (203/877-4281 www.subway.com).......
Plans are underway for the first Yummy Bowl & Asian Noodle Bar authentic Asian noodle quick casual concept in Tampa, Florida by August, according to recent reports in the Tampa Bay Times. John Zhau, owner of the seven year old chain of Yummy House restaurants, is looking at locations on Dale Mabry near Kennedy for the first location. A second location is planned for the Carrollwood area and a third in the Clearwater market. The concept will feature a choice noodles along with various vegetable, chicken, beef or seafood ingredients and broths. Later in the Summer, Zhau will open the sixth full service Tummy House restaurant in Orlando. (855/574-8496 www.yummyhouseflorida.com)........
Husband and wife team, Sommelier Debi Bell and Chef Michael Matassa will open a second Alchemy restaurant in August. The 3070 square foot full service Alchemy Elements restaurant will open in the former Open Door Café end cap location in the Bel Air Town Center Hartford County in Maryland. Described as a modern American eatery, the fine casual dining restaurant features an ‘ever-evolving’ lunch and dinner menu that utilizes fresh, seasonal ingredients, wines, spirits and beers. The couple opened the first Alchemy Modern American Eatery on West 36th St. in Baltimore in 2010. (410/366-1163 www.alchemyon36.com)........