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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 (NYSE: SHAK) has announced its participation in several upcoming virtual investor conferences this September. Key events include:
- A fireside chat at Goldman Sachs 28th Annual Global Retailing Conference on September 10, 2021, at 10:00 am ET.
- A fireside chat at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on September 13, 2021, at 12:45 pm ET.
- A fireside chat at the Raymond James 2021 Consumer Conference on September 14, 2021, at 11:00 am ET.
These events will be webcasted live on the Company’s Investor Relations website.
Shake Shack reported its Q2 2021 financial results, revealing a 104.2% revenue increase to $187.5 million compared to Q2 2020. Shack sales rose 102.7% to $181.5 million, with same-Shack sales up 52.7%. The company achieved an operating income of $3.3 million, a turnaround from last year's loss, and net income reached $2.1 million. Shake Shack plans to invest $10 million in team development. The company projects Q3 revenue guidance of $194-$200 million and Shack sales of $188-$193 million.
Shake Shack (NYSE: SHAK) plans to release its second quarter 2021 financial results on August 5, 2021, after market close. A conference call will follow at 5:00 p.m. ET, hosted by CEO Randy Garutti and CFO Katherine Fogertey. Investors can join the call by dialing (877) 407-0792 or (201) 689-8263 for international callers. A replay will be available until August 12, 2021. Shake Shack operates about 330 locations across the U.S. and internationally, offering a premium menu that includes burgers, chicken sandwiches, and shakes.
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.
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