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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 reported total revenue of $230.8 million for Q2 2022, marking a 23.1% increase from 2021, with $223.1 million from Shack sales and $7.7 million from licensing. System-wide sales reached $351.7 million, up 24.8%. Same-Shack sales grew 10.1%. The company posted an operating loss of $0.8 million and a net loss of $1.3 million, or $0.03 per share. Five new Company-operated Shacks and eight licensed openings were announced, including a new location in Guangzhou, China.
Union Square Hospitality Group (USHG) announced that Chip Wade will become CEO effective September 6, 2022, succeeding founder Danny Meyer, who remains Executive Chairman. Since joining in 2019, Wade has implemented a long-term growth plan, achieving surpassing pre-pandemic performance levels. USHG recently launched the acclaimed restaurant Ci Siamo and doubled its Daily Provisions brand footprint. Wade aims to drive growth through improved cultural, operational, and financial performance.
Shake Shack Inc. (NYSE: SHAK) will announce its second quarter 2022 financial results on August 4, 2022, before market opening. CEO Randy Garutti and CFO Katherine Fogertey will host a conference call at 8:00 a.m. ET. Call access is available at (877) 407-0792 or (201) 689-8263 for international callers. A replay will be available until August 11, 2022. The live audio webcast can be found on the Company's Investor Relations website, providing investors with timely updates regarding financial performance.
USHG Acquisition Corp. (NYSE:HUGS) has announced it will not extend its agreement with Panera Brands Inc. to participate in its upcoming IPO due to unfavorable capital market conditions. Danny Meyer, Chairman of HUGS, expressed disappointment over the market timing but emphasized a commitment to seek a new partnership aligned with their values. The company aims to leverage its extensive network to find a market-leading business that prioritizes employee welfare and stakeholder success.
Shake Shack (NYSE: SHAK) announced participation in various investor conferences in May and June 2022. Key events include:
- Fireside chat at Cowen’s Conference on May 24 at 1:50 p.m. ET.
- Virtual meetings at Loop Capital Markets Conference on June 1.
- Fireside chat at Baird’s Conference on June 6 at 12:50 p.m. ET.
- Fireside chat at William Blair’s Conference on June 7 at 1:40 p.m. ET.
- Fireside chat at Piper Sandler's Summit on June 8 at 3:35 p.m. ET (not webcasted).
- Virtual fireside chat at Oppenheimer Conference on June 15 at 1:40 p.m. ET.
- Presentations at Jefferies Consumer Conference on June 20-22.
Shake Shack reported total revenue of $203.4 million for Q1 2022, marking a 31.0% increase from 2021. Shack sales contributed $196.8 million, while licensing revenue was $6.6 million. System-wide sales rose 35.6% to $309.5 million, with same-Shack sales up 10.3%. The company reported an operating loss of $14.9 million and a net loss of $11.3 million, or $0.26 per share. Adjusted EBITDA stood at $9.6 million. Additionally, Shake Shack opened 7 new domestic locations and 6 licensed Shacks, including one in Nanjing, China.
Shake Shack is expanding its presence in Southeast Asia by opening its first location in Bangkok, Thailand, by the end of 2023. The company has partnered with Maxim’s Caterers Limited to establish a total of 15 Shacks in Thailand by 2032. The partnership reflects their commitment to quality ingredients and hospitality. Currently, Maxim’s operates 24 Shake Shacks in Greater China. The menu will include popular items like ShackBurger® and Chicken Shack. This expansion aims to cater to the growing demand for Shake Shack's offerings in the region.
Shake Shack has released its annual Stand For Something Good® Summary for 2021, highlighting efforts in diversity, equity, and inclusion. Key achievements include a 4% increase in leadership diversity and over 2,800 internal promotions, with a significant focus on people of color and women. The company also reported $9 million in wage increases and created 1,522 jobs. Sustainability efforts saw the company reduce carbon emissions and implement eco-friendly practices across its operations. CEO Randy Garutti expressed pride in the company's progress and commitment to positive change.
Shake Shack (NYSE: SHAK) will release its first quarter 2022 financial results on May 5, 2022, after market close. A conference call to discuss these results will be hosted by CEO Randy Garutti and CFO Katherine Fogertey at 5:00 p.m. ET. The call will be accessible via phone or through a live audio webcast on the company’s Investor Relations website. Shake Shack continues its growth trajectory with over 350 locations across the U.S. and globally, emphasizing high-quality food and community engagement.
Shake Shack (NYSE: SHAK) announced its participation in two upcoming virtual investor conferences in March 2022. The first fireside chat is scheduled for March 7, 2022, at 12:50 p.m. Eastern Time during the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. The second chat will take place on March 10, 2022, at 2:00 p.m. Eastern Time at the UBS Global Consumer & Retail Conference. Both events will be webcast live from Shake Shack's Investor Relations website.
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