Wingstop Diners Cut Back as Gas Prices Eat Household Budgets

Wingstop Inc. said the war in Iran is pushing up gas prices and straining household budgets to a point where consumers can no longer afford to buy chicken wings.

“Rapidly rising gas prices stressed the balance sheet of the lower-income consumer that our business over-indexes to,” Wingstop’s Chief Executive Officer Michael Skipworth said on a Wednesday earnings call, adding that the company is trying to attract more higher-income folks that earn between $50,000 and $100,000.