May 28, 2020
Shake Shack to Participate in June Virtual Investor Conferences
Shake Shack Inc. (“Shake Shack” or the “Company”) (NYSE:SHAK), today announced that the Company will be participating in the following virtual investor conferences in June: On Thursday, June 4, 2020, the Company will participate in a panel and hold investor meetings at the 40 th Annual Virtual Piper Sandler Consumer Conference. On Wednesday, June 24, 2020, the Company will host a fireside chat at the Jefferies Virtual Consumer Conference. The fireside chat will begin 10:30 am ET and will be webcast live from the Company's Investor Relations website at http://investor.shakeshack.com . About Shake Shack Shake Shack is a modern day “roadside” burger stand known for its 100% all-natural Angus beef burgers, chicken sandwiches and flat-top Vienna beef dogs (no hormones or antibiotics - ever), spun-fresh frozen custard, crinkle cut fries, craft beer and wine and more. With its fresh, simple, high-quality food at a great value, Shake Shack is a fun and lively community gathering place with...
May 4, 2020
Shake Shack Announces First Quarter 2020 Financial Results
- Total Revenue Grew 8% to $143.2 Million - - System-wide Year-Over-Year Unit Growth of 32% - Shake Shack Inc. (“Shake Shack” or the “Company”) (NYSE: SHAK) today reported its financial results for the first quarter ended March 25, 2020, a period that included 13 weeks. Randy Garutti, Chief Executive Officer of Shake Shack, stated, “I've had the privilege of leading this company through many challenging and incredible moments, but I think we'd all agree that this has been an unprecedented test for our world, and for our teams. Our message across the company has been consistent—to lead with hope, while acting on reality, and to make the necessary choices today to ensure our strength and growth continue for many years to come. Our Shack teams have been heroic, continuing to adapt our operating models and business strategy in true entrepreneurial spirit. By doubling down on our digital strategies and with increasing engagement through both our own, and third-party delivery channels, we...
April 17, 2020
Shake Shack Announces Aggregate $150 Million Equity Offering
Shake Shack Inc. (“Shake Shack” or the “Company”) (NYSE:SHAK) today announced transactions resulting in aggregate $150 million gross proceeds of new equity capital. The Company raised approximately $140 million gross proceeds from the sale of shares of its Class A common stock (the “Underwritten Shares”) in an underwritten offering, and approximately $10 million gross proceeds from sales of shares of its Class A common stock pursuant to the ATM Program announced earlier today. The Company currently intends to use the net proceeds to strengthen its balance sheet, which would include use for general corporate purposes, and to further enhance the Company’s ability to resume execution of its long-term strategic growth plan. The closing of the underwritten offering is expected to occur on April 21, 2020, subject to standard closing conditions. J.P. Morgan acted as the lead bookrunning manager for the underwritten offering. BofA Securities and Wells Fargo Securities also acted as...