American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
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Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
Shares of rallied more than 6 percent on Monday after the company said sales were strong in fiscal 2017.
Chicken-wing chains have struggled in the last year, as the cost of wings has grown and diners have had more food choices inside and outside of the restaurant industry. However, Wingstop seems to be the outlier.
The company was one of the top restaurant stocks in 2017, with shares jumping more than 31 percent during the year.
Wingstop said Monday it expects to report systemwide sales of $1.1 billion for the fiscal year, up 14 percent from last year.
In the fourth quarter, the company said systemwide sales are expected to be up 15.6 percent to $285 million. Same-store sales growth of 5.2 percent is expected across its more than 1,000 locations in the U.S., with its 23 company-owned stores growing 4.6 percent in the quarter.
For the full year, same-store sales are expected to be up 2.6 percent domestically, marking the 14th consecutive year with positive same-store sales growth.
"Overcoming the challenges that we faced in 2017, including record wing inflation over 40 percent and post-election consumer sentiment is a testament of the strength of our brand and business model," CEO Charlie Morrison said in a statement.
In addition, the company said that it had 45 net openings in the fourth quarter, raising its number of worldwide locations to 1,133, a 13.5 percent increase.
"Our achievements in 2017 reflect our focus on four key long-term growth strategies: national advertising, digital expansion, delivery and international development which we believe will position us to achieve our vision of becoming a top 10 global restaurant brand," Morrison said.
Wingstop will be speaking to investors Tuesday at the ICR Conference in Orlando.