Wingstop shares sink after profit and revenue misses expectations

Wingstop Inc. shares sank 6.8% in Wednesday premarket trading after the chicken chain reported fourth-quarter profit and revenue that missed Street expectations. Net income totaled $6.9 million, or 23 cents per share, after a loss of $6.4 million, or 21 cents per share, last year. Revenue of $72.0 million was up from $63.3 million last year. The FactSet consensus was for EPS of 32 cents and revenue of $73.5 million. Domestic same-store sales rose 7.5%. And domestic average unit volume (AUV) reached $1.6 million. Wingstop shares are down 5% over the past year while the S&P 500 index is up 13.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.