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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 Inc. (NYSE: SHAK) is expanding its presence in China through an agreement with Maxim's Caterers Limited to open 10 new Shack locations in territories like Sichuan and Chongqing by 2031. This development increases their total commitment to 79 Shacks in China. Currently, Shake Shack operates 16 locations, with recent openings in Macau and Shenzhen. The company sees China as its fastest growing international market and continues to engage with consumers through premium products and community-focused spaces.
Shake Shack (NYSE:SHAK) announced the appointment of Katherine Fogertey as the new Chief Financial Officer, effective June 14, 2021. With over 15 years of financial expertise, particularly in the restaurant sector, Fogertey aims to enhance Shake Shack's financial operations. Prior to this role, she was a lead analyst at Goldman Sachs, specializing in restaurant technology and growth. CEO Randy Garutti expressed enthusiasm for her joining the leadership team during a critical growth phase for the Company.
Shake Shack (NYSE: SHAK) will participate in several virtual investor conferences this spring. Key events include:
- May 27, 2021: Fireside chat at Cowen 2nd Annual Digital Dining Summit at 9:20 am ET.
- June 2, 2021: Fireside chat at William Blair’s 41st Annual Growth Stock Conference at 10:20 am ET.
- June 10, 2021: Fireside chat at Baird 2021 Global Consumer, Technology & Services Conference at 9:40 am ET.
- June 16, 2021: Fireside chat at Oppenheimer 21st Annual Consumer Growth and E-Commerce Conference at 9:55 am ET.
Live presentations will be available on Shake Shack's Investor Relations website.
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.
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