WING is one of the few business models that is outperforming on several metrics in the restaurants space, and we expect that to continue. While the stock has more than doubled off the March lows, we believe that WING has one of the most durable business models. WING entered the pandemic with a strong base of franchisees and a sales mix well positioned to benefit from the industry shift to take-out and delivery.
Importantly, Wingstop is a digitally enabled pop culture brand. The company's robust digital infrastructure allows it to navigate the current restaurant environment successfully and capture additional visits from weakened independent restaurants. We also don't believe that there are real concerns the long-term growth algorithm will slow much. The company's 3-5 year growth plan looks to grow units at 10% and same-store sales in the MSD% range, up from the previously targeted LSD%. The company came into 2020 investing to accelerate international expansion, which will likely put some pressure on the earnings matrix in 2020, but better position it in the future.
Another benefit that will likely accrue to WING is slightly lower costs for opening units and increased availability of high visibility real estate.
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