Wing stop is not currently experiencing the same decline in consumption as fast-food chains such as McDonald’s and Starbucks this year.

This success is due in part to the popularity of the traditional offering, chicken wings, among spectators at live sporting events.

“If you think of someone who has to make a decision about where to cut spending, they’re much less likely to give up something related to your social event,” said Jim Salera, equity analyst at Stephens.

Wingstop CEO Michael Skipworth told CNBC that the company has shifted its focus to advertising with live sports.

“We have a huge opportunity to close the gap in brand awareness and other national brands, and we continue to work on that,” Skipworth said.

The company has also managed to keep price increases below those of its fast-food rivals. Since 2019, Wingstop has only raised its prices by about 15%, while its quick-service restaurant competitors have dropped prices in the 30% to 40% range, according to an analyst note published by BTIG on July 31.

“Compared to what Wingstop has done over the last few years, there is a lot less discipline,” said Andrew Charles, senior research analyst at TD Cowen.

In the fourth fiscal quarter of 2024, the company reported a 28.7% increase in its domestic comparable-store sales.

And the stock is rising. Wingstop went public in 2015 at a price of about $30. Since the beginning of the year, the company has risen by more than 50 percent and is now trading at about $400 per share.

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