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 reported Q1 2021 results with total revenue of $155.3 million, a 8.5% increase year-over-year. Shack sales rose 9.1% to $150.7 million. Average weekly sales improved to $64,000, reaching $68,000 by March. The company opened 10 new domestic Shacks in Q1 and plans 35 to 40 new openings for 2021. However, the operating loss increased to $10 million. Same-Shack sales grew 5.7% in Q1 and 86% in April 2021. Shake Shack holds $415.9 million in cash and securities as of March 31, 2021.
Shake Shack (NYSE: SHAK) is set to release its First Quarter 2021 financial results on May 6, 2021, post-market. The Company's CEO, Randy Garutti, and President, Tara Comonte, will host a conference call at 5:00 p.m. ET, accessible by phone or via a live audio webcast on the Investor Relations website. Shake Shack continues to expand with approximately 320 locations across 30 U.S. states and over 107 international locations, emphasizing their commitment to high-quality food and community investment.
Shake Shack (NYSE: SHAK) announced that Tara Comonte, President and CFO, will leave the company to become CEO of a private firm outside the restaurant sector. Comonte, who has been with Shake Shack since 2017, will remain until May 7, 2021, to ensure a smooth transition. The company is seeking a new CFO, and her duties will be reassigned to the existing leadership team. CEO Randy Garutti expressed gratitude for Comonte's contributions and confidence in Shake Shack's growth strategy as they emerge from the pandemic.
Shake Shack (NYSE: SHAK) will host a virtual fireside chat at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on March 11, 2021, starting at 8:45 a.m. ET. The event will be available for live streaming on Shake Shack’s Investor Relations website.
Shake Shack serves a classic American menu with premium burgers, chicken sandwiches, and more. Since opening its first location in 2004, the company has grown to approximately 310 locations across the U.S. and 105 international sites, reflecting its commitment to community and quality.
Shake Shack announced a private placement of $225 million in 0% Convertible Senior Notes due 2028. The offering, aimed at qualified institutional buyers, will close on March 4, 2021. Net proceeds are estimated at $217.9 million, or $242.3 million if additional notes are purchased. Funds will support Shake Shack's growth initiatives, including new locations, format evolution, digital experiences, and working capital. The notes are convertible under certain conditions, with an initial conversion price of approximately $170.42 per share, reflecting a 45% premium to the last sale price.
Shake Shack announced a private placement offering of $225 million in Convertible Senior Notes due 2028 to qualified institutional buyers. An additional $25 million may be offered within 13 days post-issuance. These notes are unsecured and will accrue interest, with Shake Shack having the option to pay in cash or stock upon conversion. The proceeds will support growth initiatives, including new locations and digital enhancements. The notes have not been registered under the Securities Act. Forward-looking statements highlight potential market risks impacting the offering.
Shake Shack (NYSE: SHAK) reported Q4 2020 revenue of $157.5 million, a 4.0% increase year-over-year, driven by improved same-Shack sales, which were down 17.4% versus 31.7% in Q3. Despite operational challenges, they opened 13 new Shacks in Q4, concluding the year with 183 domestic Shacks. For fiscal 2020, total revenue decreased 12.1% to $522.9 million, and net loss was $45.5 million. Looking ahead, Shake Shack plans to open 35-40 new domestic Shacks in 2021 and emphasizes digital sales opportunities amidst ongoing challenges.
Shake Shack (NYSE: SHAK) will announce its Fourth Quarter 2020 financial results on February 25, 2021, after market close. CEO Randy Garutti and CFO Tara Comonte will host a conference call at 5:00 p.m. ET to discuss these results. The call can be accessed via phone or live audio webcast on the company's Investor Relations website. Shake Shack operates roughly 310 locations in the U.S. and over 120 international locations, known for its high-quality, all-natural food and community investment.
Shake Shack (NYSE: SHAK) reported preliminary results for Q4 and FY 2020, revealing a 4% revenue increase to $157.5 million in Q4, though overall FY revenue fell 12.1% to $522.9 million. Average Weekly Sales rose to $62,000, with Same-Shack sales down 17.4%. The company plans to open 35-40 new domestic locations in 2021, with a focus on digital enhancements and menu innovations. Cash and marketable securities stood at $183.8 million by year-end, despite temporary closures due to COVID-19 impacting operations.
Shake Shack (NYSE: SHAK) will participate in two virtual investor conferences in January 2021. On January 12, the Company will present at the 23rd Annual ICR Virtual Conference starting at 8:30 a.m. ET. Following this, on January 19, Shake Shack will host a fireside chat at the Jefferies 10th Annual Winter Restaurant, Foodservice, Gaming, Lodging & Leisure Virtual Summit. Both events will be webcast live on the Company's Investor Relations website.
Shake Shack is known for its all-natural Angus beef burgers and has expanded to approximately 300 locations across the U.S. and over 120 international locations.
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?
