Shake Shack Inc Stock Price, News & Analysis

Shake Shack Inc. (NYSE: SHAK) announced its fourth quarter and fiscal year 2022 results, highlighting a total revenue of $238.5 million, a 17.4% increase compared to 2021. Shack sales contributed $229.9 million, while licensing revenue stood at $8.6 million. System-wide sales rose 15.8% to $364.1 million, with same-Shack sales up 5.1%. The company reported an operating loss of $6.3 million and a net loss of $11.1 million, or $0.27 per share. For the fiscal year, total revenue reached $900.5 million, marking a 21.7% increase, while net losses totaled $26.0 million. Shake Shack opened 22 new domestic and 13 licensed Shacks in 2022.

Shake Shack Inc. (NYSE: SHAK) is set to release its fourth quarter and fiscal year 2022 financial results on February 16, 2023, before the market opens. A conference call will follow at 8:00 a.m. ET, featuring CEO Randy Garutti and CFO Katherine Fogertey. Investors can access the call via phone or a live audio webcast on the company's Investor Relations website. Following the call, a replay will be available until February 23, 2023. Shake Shack continues to expand its presence with over 430 locations globally, offering high-quality food and a commitment to community engagement.

Shake Shack Inc. (NYSE: SHAK) reported preliminary unaudited results for the fourth quarter and fiscal year ending December 28, 2022. Total revenue reached $238.5 million for 4Q22 and $900.5 million for FY22. Shack sales were $229.9 million in 4Q22 and $869.3 million for the year. Same-Shack sales increased by 5.1% in 4Q22 and 7.8% for FY22. The company opened 36 new domestic Shacks during the year. Expected Shack-level operating profit margin is about 19% for Q4 and 17% for FY22.

Shake Shack announced its participation at the 25th Annual ICR Conference in Orlando, Florida, scheduled for January 10, 2023, at 9:00 a.m. ET. CEO Randy Garutti and CFO Katie Fogertey will present, which will be accessible via a live webcast on the Company's Investor Relations website. Shake Shack is known for its high-quality American classics made with premium ingredients and operates over 430 locations globally.

iNNBeauty Project has successfully closed a Series B investment led by Alliance Consumer Growth, with support from existing investors. The funds will enhance brand growth and boost exposure in Sephora, targeting expansion into Sephora Canada's omnichannel operations within the first half of 2023. iNNBeauty Project aims for further innovation and improved brand awareness after experiencing a remarkable 160% year-over-year growth.

Shake Shack Inc. (NYSE: SHAK) will participate in several investor conferences, including a fireside chat at the Barclays Eat, Sleep, Play Conference on November 29, 2022, starting at 9:30 a.m. Eastern Time, in New York, NY. Additionally, the Company will host another fireside chat at the Morgan Stanley Global Consumer & Retail Conference on December 6, 2022, also at 9:30 a.m. in New York. Investor meetings will be held at the Truist Gaming, Lodging, Leisure and Restaurants Summit on December 8, 2022, in Boston, MA. All events will be webcast live on their Investor Relations website.

Shake Shack reported third-quarter 2022 total revenue of $227.8 million, an increase of 17.5% compared to 2021, with $219.5 million from Shack sales and $8.3 million from licensing. System-wide sales rose to $353.2 million (+18.3%). Same-Shack sales grew 6.3%. However, the company experienced an operating loss of $4.8 million and a net loss of $2.3 million, equating to a loss of $0.05 per share. Shake Shack opened 2 new domestic and 6 licensed Shacks, including in China and Korea.

Shake Shack is set to open a new location at Atlantis Paradise Island Bahamas in 2023, marking its entry into the Caribbean market. The company aims to create a unique dining experience by collaborating with local Bahamian suppliers and offering exclusive menu items alongside its signature offerings. This expansion aligns with Shake Shack's mission to provide high-quality food and memorable experiences, as emphasized by its Chief Global Licensing Officer, Michael Kark, and Atlantis President, Audrey Oswell.

Shake Shack Inc. (NYSE:SHAK) announced the appointment of Lori George Billingsley to its Board of Directors, effective October 17, 2022. Billingsley joins the Nominating & Corporate Governance Committee, increasing the board to eleven members. Previously, she served as Global Chief Diversity, Equity, and Inclusion Officer at The Coca-Cola Company, leading significant DEI initiatives. CEO Randy Garutti expressed confidence in Billingsley's ability to enhance Shake Shack's future through her leadership and expertise.