Could Wingstop's New Pivot To Chicken Thighs Lay An Egg?
When life hands you lemons, the obvious response according to the timeless clich is to make lemonade. The answer, according to one fast-food company, is to start selling chicken thighs. High On Thighs: Wingstop Inc. (NASDAQ: WING) has introduced Thighstop as a non-wing alternative for fans. Available in both bone-in and boneless servings, Thighstop meals are, according to the company, tossed in 11 bold, distinctive and craveable flavors  the same 11 flavors that catapulted Wingstop to flavor fame.  The company is making its Thighstop offerings available through its website for delivery via DoorDash, Inc. (NYSE: DASH). Wingstop Chairman and CEO Charlie Morrison acknowledged that adding chicken thighs to the menu is based on economic concerns. In a CNN interview, he stated the wholesale price of wings has spiked from 98 cents one year ago to $3.22 today. It's a meaningful difference," he said, noting that thighs are "much less expensive." The challenge is getting consumers on board. "There's not a big market for it," Morrison said, noting that thighs just "don't get the appreciation they deserve." WING Price Action: Shares of Wingstop are up 1.40% at $149.54 Tuesday at publication.