April 2, 2020
Shake Shack Provides Business Update
Company Announces Measures to Enhance Financial Strength & Flexibility NEW YORK -(BUSINESS WIRE)- Shake Shack (NYSE: SHAK), provided a business update today on the impact of the COVID-19 pandemic and steps the Company has taken to conserve cash and increase available liquidity to maximize financial flexibility until current market conditions stabilize. “We are navigating through an unprecedented time that continues to evolve rapidly. Our message across the company has been to lead with hope, while acting on reality, and to make the necessary choices today to ensure our strength and growth continues for many years to come. We are taking the crucial steps to safeguard the health of our teams and communities, while we work to serve our guests to the best of our ability. In addition to our focus on the pre-ordering convenience of our Shack app and web channels, we are taking this moment to add additional delivery partners to all Shacks where available. Postmates , DoorDash , Caviar...
March 16, 2020
Shake Shack Will Temporarily Shift to a “To-Go” Model in All Company-Owned U.S. Restaurants
Company Withdrawing Financial Guidance For 2020 NEW YORK -(BUSINESS WIRE)- Shake Shack (NYSE: SHAK), announced that starting today, it will temporarily shift to a “to-go” only operating model in all of its U.S. company-owned restaurants, as the COVID-19 situation continues to rapidly evolve. Guests will be able to place to-go orders in the restaurant, pre-order on shakeshack.com , the Shack App for pickup, or order for delivery through Grubhub and Seamless in all cities, as well as other providers such as Postmates , DoorDash , Caviar and UberEats in certain locales. Out of concern for the well-being of its guests, team members and community, dining rooms will be closed. Shake Shack restaurants across the country may also be impacted by closures or reduced hours over the coming weeks. “As we navigate this evolving situation, we’ll continue to act in the interest of the safety of our team and our guests,” said Randy Garutti , Shake Shack CEO. “We’re committed to doing our part as a...
February 24, 2020
Shake Shack Announces Fourth Quarter and Fiscal Year 2019 Financial Results
- Fourth Quarter Total Revenue Grew 21.9% - - Fiscal 2019 Total Revenue Grew 29.4% - - Fiscal 2019 Same-Shack Sales Increased 1.3% - - System-wide Year-Over-Year Unit Growth of 32% - Shake Shack Inc. (“Shake Shack” or the “Company”) (NYSE: SHAK), today reported financial results for the fourth quarter and the fiscal year ended December 25, 2019, periods that included 13 and 52 weeks, respectively. Financial Highlights for the Fourth Quarter 2019: Total revenue increased 21.9% to $151.4 million. Shack sales increased 20.8% to $145.8 million. Same-Shack sales decreased 3.6%. Licensed revenue increased 58.6% to $5.6 million. Shack system-wide sales increased 31.4% to $235.0 million. Operating income was $0.5 million, or 0.3% of total revenue, and Shack-level operating profit*, a non-GAAP measure, increased 9.4% to $29.7 million, or 20.4% of Shack sales. Net loss and net loss attributable to Shake Shack Inc. were $2.1 million, or $(0.06) per diluted share, respectively, primarily driven...