Welcome to our dedicated page for Shake Shack news (Ticker: SHAK), a resource for investors and traders seeking the latest updates and insights on Shake Shack stock.
Shake Shack Inc. (SHAK) is a modern-day “roadside” burger stand renowned for its all-natural burgers, flat-top dogs, frozen custard, beer, wine, and more. With a mission to stand for something good, Shake Shack emphasizes fresh, simple, and high-quality food at great value. The company creates community-gathering places that appeal to a wide demographic, making it a fun and lively destination.
Founded by Danny Meyer’s Union Square Hospitality Group, Shake Shack started as a humble hot dog cart in New York City’s Madison Square Park in 2004. Over the years, it has grown exponentially, with over 50 locations across the United States and internationally. The cornerstone of Shake Shack's menu is its premium burgers, made from a whole-muscle blend of all-natural, hormone and antibiotic-free Angus beef, freshly ground daily and cooked to order. These burgers are served on potato buns that are non-genetically modified organisms (non-GMO), enhancing the quality and flavor.
Beyond burgers, Shake Shack offers a variety of classic American foods including hot dogs, crispy chicken, crinkle-cut fries, and a selection of hand-spun shakes. The company also prides itself on serving a range of beverages from draft root beer and freshly-squeezed lemonade to organic iced tea and cold brew coffee. Frozen custard and seasonal specials add a unique twist to its offerings, keeping the menu exciting and fresh.
Shake Shack is committed to sustainability and community investment. The company integrates environmental responsibility into its operations by using sustainable and recyclable materials. Its employment practices focus on creating a warm and inclusive work environment, training future leaders, and fostering intellectual curiosity among its employees.
Recent accomplishments include the expansion of their menu with innovative items and continuous growth in new markets. Financially, Shake Shack has shown robust performance, consistently attracting new customers and retaining loyal patrons. Strategic partnerships and collaborations have further solidified its position as a leader in the fast-casual dining sector.
Shake Shack (NYSE: SHAK) released preliminary Q4 2024 results, reporting strong performance with total revenue of $328.7 million, up 14.8% year-over-year. The company achieved same-Shack sales growth of 4.3% and expanded restaurant margins by nearly 300 basis points to 22.7%. Adjusted EBITDA grew 48% year-over-year.
The company updated its long-term growth target, now aiming for at least 1,500 Company-operated Shacks, significantly up from the previous target of 450. For FY2025, Shake Shack projects total revenue growth of 16-18%, restaurant margins of approximately 22%, and Adjusted EBITDA growth of 14-20%.
In FY2024, the company opened a record 43 new Company-operated Shacks and 33 licensed locations. The company's three-year targets include low-teens percentage growth in both total revenue and system-wide units, with restaurant-level profit margins of at least 22%.
Shake Shack has announced the appointment of Justin Mennen as its new Chief Information and Technology Officer, effective January 13, 2025. Mennen will report directly to CEO Rob Lynch and will oversee all aspects of the company's technology and digital capabilities.
With a strong background in technology leadership, Mennen brings extensive experience in driving innovation across various industries. His responsibilities will include the development and implementation of technology strategies, systems, and processes that support Shake Shack's operations and business objectives. He will also work closely with the executive team to identify opportunities for technology innovation, improve business processes, and enhance the guest experience.
Mennen previously served as EVP, Chief Digital and Technology Officer at Rite Aid , where he enhanced online platforms and modernized systems across 2,400 stores. He has also held key technology leadership roles at Estée Lauder, Compucom, and Dell Technologies, where he drove innovation and operational improvements.
Shake Shack (NYSE: SHAK) has announced its participation in two upcoming investor conferences in January 2025. CEO Rob Lynch and CFO Katherine Fogertey will represent the company at these events.
The first engagement is at the 27th Annual ICR Conference in Orlando, Florida, scheduled for Monday, January 13, 2025, with a presentation beginning at 9:00 a.m. Eastern Time. Following this, on Tuesday, January 28, 2025, the company will meet with institutional investors at the Jefferies SMid Cap Consumer Conference in Boston, Massachusetts.
Investors can access the presentation webcast through Shake Shack's Investor Relations website at investor.shakeshack.com under the Events & Presentations section.
Shake Shack (NYSE: SHAK) has announced its participation in several upcoming investor conferences. CEO Rob Lynch and CFO Katherine Fogertey will attend multiple events, including: the Deutsche Bank Gaming, Lodging, Leisure & Restaurants Conference in Miami (November 14, 2024), the Morgan Stanley Global Consumer and Retail Conference in New York (December 3, 2024, 9:30 AM ET), the Barclays Annual Eat, Sleep, Play Conference (December 4, 2024, 9:00 AM ET), and the Raymond James TMT and Consumer Conference (December 11, 2024, 9:20 AM ET). Fireside chats will be webcasted and available on Shake Shack's Investor Relations website.
Shake Shack (SHAK) reported Q3 2024 financial results with total revenue of $316.9 million, up 14.7% year-over-year. The company saw same-Shack sales increase by 4.4% versus 2023. However, they reported an operating loss of $18.0 million, including a $29.1 million charge for impairments and closures, compared to an operating income of $5.7 million in 2023. Restaurant-level profit reached $64.2 million (21.0% of Shack sales). The company expanded operations, opening eight new Company-operated Shacks, including three drive-thrus, and nine new licensed Shacks.
Shake Shack Inc. (NYSE: SHAK) has announced that it will release its third quarter 2024 financial results on October 30, 2024, before the market opens. The company will host a conference call at 8:00 a.m. ET on the same day to discuss the earnings release. Rob Lynch, Chief Executive Officer, and Katie Fogertey, Chief Financial Officer, will host the call.
Investors can access the conference call live by dialing (877) 407-0792 for domestic callers or (201) 689-8263 for international callers. A replay of the call will be available until November 6, 2024. The live audio webcast of the conference call will be accessible in the Events & Presentations section on the Company's Investor Relations website at investor.shakeshack.com.
Shake Shack Inc. (NYSE: SHAK) has announced its participation in two upcoming investor conferences in September 2024. CEO Rob Lynch and CFO Katherine Fogertey will represent the company at these events:
1. Goldman Sachs' 31st Annual Global Retailing Conference on September 4, 2024, with a fireside chat at 3:15 p.m. Eastern Time.
2. TD Cowen's Sip, Snack and Scrub Summit on September 17, 2024, featuring a fireside chat at 1:25 p.m. Eastern Time.
Both fireside chats will be webcasted and available for viewing on Shake Shack's Investor Relations website under the Events & Presentations page.
Serve Robotics (NASDAQ: SERV) and Shake Shack (NYSE: SHAK) have partnered to offer autonomous robot delivery via Uber Eats in select Los Angeles areas. This collaboration marks Serve's progress towards deploying 2,000 AI-powered sidewalk delivery robots on the Uber platform by 2025. Serve's robots, which have been operating on Uber Eats since 2022, offer quick, convenient, and contactless delivery with advanced features including:
- Efficient route planning
- Secure food transit
- Cost-effective operations
- Safe navigation using GPS and AI
- Eco-friendly, all-electric design
This partnership aims to enhance guest experiences and expand Serve's geographic footprint while providing an innovative, affordable, and reliable delivery option for customers.
Shake Shack (NYSE: SHAK) reported strong financial results for Q2 2024, with total revenue up 16.4% to $316.5 million. The company saw system-wide sales increase by 13.5% to $483.7 million, and same-Shack sales grow by 4.0% compared to 2023. Operating income more than doubled to $10.8 million, while net income rose to $10.4 million. Adjusted EBITDA showed significant growth, increasing 27.4% to $47.2 million. The company's expansion continued with the opening of twelve new Company-operated Shacks, including three drive-thrus, and eleven new licensed Shacks. Earnings per diluted share reached $0.23, with adjusted pro forma earnings of $0.27 per fully exchanged and diluted share.
Shake Shack Inc. (NYSE: SHAK) has announced that it will release its second quarter 2024 financial results on August 1, 2024, before the market opens. The company will host a conference call at 8:00 a.m. ET on the same day to discuss the results. Rob Lynch, Chief Executive Officer, and Katie Fogertey, Chief Financial Officer, will host the call.
Investors and analysts can access the call live by dialing (877) 407-0792 for domestic callers or (201) 689-8263 for international callers. A replay will be available until August 8, 2024. Additionally, a live audio webcast of the conference call will be accessible on Shake Shack's Investor Relations website, with an archived replay available shortly after the event concludes.
FAQ
What is the current stock price of Shake Shack (SHAK)?
What is the market cap of Shake Shack (SHAK)?
What type of food does Shake Shack serve?
Where was the first Shake Shack location?
What is the mission of Shake Shack?
How does Shake Shack ensure the quality of its burgers?
Does Shake Shack offer any beverages?
What sustainability practices does Shake Shack follow?
How many Shake Shack locations are there?
Who founded Shake Shack?
Does Shake Shack have any special menu items?
What kind of work environment does Shake Shack promote?
