Wingstop growth plans set for 2,500 U.S. locations: CEO

Buffalo Wild Wings not competition: Wingstop CEO
Buffalo Wild Wings not competition: Wingstop CEO   

Wingstop, which soared in its trading debut Friday, is on track to continue expanding across the United States, its CEO said.

The fast-casual restaurant chain, which specializes in chicken wings, opened 80 restaurants in the U.S. last year and has 503 total commitments to open new franchises.

"We believe we can continue this pace of growth long term, looking at 10 percent-plus unit growth, on our way to 2,500 restaurants in the U.S. alone," CEO Charlie Morrison said in an interview with CNBC's "Power Lunch" on Friday.

Wingstop, which was founded in 1994, currently has more than 745 locations across the U.S. and around the world.

In its market debut Friday, the stock opened up nearly 61 percent at $30.50. It's initial public offering price of $19 was above the expected range of $16-$18 per share.

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When it comes to Wingstop's competitors, Morrison said he doesn't consider Buffalo Wild Wings to be among them.

For one, Wingstop's locations are smaller, at only 1,700 square feet, and 75 percent of its business is takeout, he noted.

"We're focused on wings, fries and sides. That's our core product and really we don't serve a lot of alcohol," he said. "We're not married to the sport occasion, so really [we're] a differentiated brand overall."

Morrison said the secret to the company's success is keeping things simple and efficient, which creates great returns for its franchisees.

It also helps when it comes to navigating the volatile price of chicken wings.

"We're all about a very core simple product and we can absorb that into our P&L (profit and loss) through simplified labor and low real estate costs," he said.

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—CNBC's Reem Nasr and Uptin Saiidi contributed to this report.