Shake Shack Inc. (NYSE: SHAK)
announced financial results for the fourth quarter and fiscal year 2019. For the fourth quarter, revenue rose 21.9% to USD 151.4 Million. Sales of the company increased 20.8% to USD 145.8 Million. System-wide sales increased by 31.4% to USD 235 Million. The company had 25 system-wide Shack openings that include 12 domestic Shacks and 13 licensed Shacks.
For the fiscal year 2019, revenue increased 29.4% to USD 594.5 Million while Shack sales rose 29% to USD 574.6 Million. Licensed revenue rose by 45% to USD 19.9 Million. In FY 2019, the company had 73 system-wide shack openings where 39 were domestic operated by Shack and 34 were licensed.
Randy Garutti, Chief Executive Officer of Shake Shack, stated, “2019 was another milestone year at Shake Shack. We opened our largest class of Shacks ever, with 73 across the globe, 39 company-operated and 34 licensed. A total of 49 of those new Shacks were here in the United States, and internationally, we unlocked tremendous revenue growth by entering important new markets for the first time, namely Shanghai, Mexico City, Singapore and Manila. These launches were greeted with incredible local reception and fanfare and were a reminder of the global strength and potential of the Shake Shack brand. In addition to this expansion, we invested in our digital infrastructure, both for our back-office operations, and our guest touchpoints. Total revenue increased by almost 30% to $595 million, and system-wide sales by 33% to nearly $900 million, and we delivered adjusted EBITDA growth of 11% to $82 million, while continuing to make strategic investments for the significant opportunities that lie ahead.”
Garutti concluded, “Looking forward, we expect 2020 will be another year of strong unit growth, domestically and internationally, with 40 to 42 new company-operated Shacks and 20 to 25 net new licensed Shacks. Beyond expansion, we believe this year will be defined by our innovation pipeline with focused investments across our digital products. We’re committed to building guest experiences that are more engaging, more convenient and that will provide us with more insights throughout the purchase process. On the menu side, we’re excited about new products making the leap from our innovation test kitchen to Shacks everywhere, through LTOs and core menu additions. Long term, we expect to deliver double-digit adjusted EBITDA growth over the coming years as we continue to grow top line sales, as well as ultimately delivering leverage across various cost line items over time. We recognize this level of growth and investment, at times, can have a near-term impact on same-Shack sales and other aspects of our financial performance, but we believe the company will ultimately benefit from this strategy over time. We are excited about our future and the significant runway we have ahead, as we quickly approach a billion dollars in total system-wide sales and build a company not just for quarters, but for years to come.”
Garutti concluded, “Looking forward, we expect 2020 will be another year of strong unit growth, domestically and internationally, with 40 to 42 new company-operated Shacks and 20 to 25 net new licensed Shacks. Beyond expansion, we believe this year will be defined by our innovation pipeline with focused investments across our digital products. We’re committed to building guest experiences that are more engaging, more convenient and that will provide us with more insights throughout the purchase process. On the menu side, we’re excited about new products making the leap from our innovation test kitchen to Shacks everywhere, through LTOs and core menu additions. Long term, we expect to deliver double-digit adjusted EBITDA growth over the coming years as we continue to grow top line sales, as well as ultimately delivering leverage across various cost line items over time. We recognize this level of growth and investment, at times, can have a near-term impact on same-Shack sales and other aspects of our financial performance, but we believe the company will ultimately benefit from this strategy over time. We are excited about our future and the significant runway we have ahead, as we quickly approach a billion dollars in total system-wide sales and build a company not just for quarters, but for years to come.”
23 Comments
Kelincona
Feb 27, 2020 at 12 52 pmCephalexin 250 Mg Canada http://abuycialisb.com - Buy Cialis Finasteride 5 Mg For Sale Buy Cialis Sexual Dysfunction
Kelincona
Feb 28, 2020 at 02 38 amPropecia Eyebrow Growth http://buycialisuss.com - Buy Cialis Kamagra Moins Cher Cialis Viagra Soft Cheap
Mihaelcfq
Feb 28, 2020 at 02 24 pmПриветствую Вас дамы и господа!
Наша контора сдает уютные домики в гурзуфе
http://blockgaming.org/staff/forums/index.php?members/mihaelcrz.102/
https://meslab.org/threads/gurzuf-snjat-zhile-nedorogo.60873/
http://2f2f.adrenalinex.co.uk/index.php?action=profile;u=7277
Mihaeloop
Feb 28, 2020 at 02 24 pmПриветствую Вас дамы и господа!
Наша контора сдает уютные домики в гурзуфе
http://www.leftyguitartrader.com/forum/member.php?9185-Mihaelxqg
https://forum.otcommerce.com/forums/member.php?u=32668
https://meslab.org/threads/gurzuf-snjat-zhile-nedorogo.60873/
Mihaelrvx
Feb 28, 2020 at 02 27 pmДоброго времени суток господа!
Наша компания сдает уютные домики в гурзуфе
http://forums.golfreview.com/member.php?408154-Mihaeldcn
http://importer.in.ua/showthread.php?6720-%D1%87%D0%B0%D1%81%D1%82%D0%BD%D0%BE%D0%B5-%D0%B6%D0%B8%D0%BB%D1%8C%D0%B5-%D0%B2-%D0%B3%D1%83%D1%80%D0%B7%D1%83%D1%84%D0%B5-%D1%81%D0%BD%D1%8F%D1%82%D1%8C&p=445551#post445551
http://www.drumsmoking.com/drum-smoking-lounge/31613-a.html#post46059
Mihaelibc
Feb 28, 2020 at 02 28 pmДоброго времени суток друзья[url=http://vika-service.by/]![/url]
Наша контора сдает уютные домики в гурзуфе
https://meslab.org/threads/gurzuf-snjat-zhile-nedorogo.60873/
http://qanonboards.com/members/mihaelcfh.367/
https://playsharp.io/forum/index.php?/topic/335-%D0%B3%D1%83%D1%80%D0%B7%D1%83%D1%84-%D0%B3%D0%B4%D0%B5-%D0%BB%D1%83%D1%87%D1%88%D0%B5-%D1%81%D0%BD%D1%8F%D1%82%D1%8C-%D0%B6%D0%B8%D0%BB%D1%8C%D0%B5/
Mihaelfcb
Feb 28, 2020 at 02 29 pmДоброго времени суток дамы и господа[url=http://vika-service.by/]![/url]
Наша фирма сдает уютные домики в гурзуфе
https://forums.factorio.com/memberlist.php?mode=viewprofile&u=89396
https://playsharp.io/forum/index.php?/topic/334-%D0%B3%D1%83%D1%80%D0%B7%D1%83%D1%84-%D0%BA%D1%80%D1%8B%D0%BC-%D1%81%D0%BD%D0%B8%D0%BC%D1%83-%D0%B6%D0%B8%D0%BB%D1%8C%D0%B5/
https://forum.otcommerce.com/forums/member.php?u=32668
uuwtuqove
Feb 29, 2020 at 12 16 pm[url=http://mewkid.net/who-is-xandra/]Buy Amoxicillin[/url] Amoxicillin cmv.bfyk.financialinsiders.com.hmd.fd http://mewkid.net/who-is-xandra/
abigosu
Feb 29, 2020 at 01 08 pm[url=http://mewkid.net/who-is-xandra/]Amoxicillin[/url] Amoxicillin 500mg Capsules npb.bfig.financialinsiders.com.zwn.yd http://mewkid.net/who-is-xandra/
unefefepuw
Feb 29, 2020 at 01 52 pm[url=http://mewkid.net/who-is-xandra/]Amoxicillin No Prescription[/url] Amoxicillin ywc.abci.financialinsiders.com.ryi.ub http://mewkid.net/who-is-xandra/
JohnnieFal
Apr 24, 2020 at 10 09 pm[url=http://mysite.com]http://mysite.com[/url]
Bradleystore
Jun 12, 2020 at 09 14 am[url=https://megaremont.pro/msk-restavratsiya-vann]Colored enamel for baths[/url]
Willnag
Jun 14, 2020 at 04 02 am[url=https://megaremont.pro/krasnogorsk-restavratsiya-vann]Restoring the coating of baths in Krasnogorsk[/url]
AlbertCox
Jun 17, 2020 at 12 28 am[url=https://megaremont.pro/podolsk-restavratsiya-vann]Restoration of baths in Podolsk[/url]
AlbertCox
Jun 18, 2020 at 10 51 am[url=https://megaremont.pro/podolsk-restavratsiya-vann]Updating baths in Podolsk[/url]
MerillSaw
Jul 01, 2020 at 09 25 am[url=https://bestgruzchik.ru/]услуги грузчиков москва[/url]
uqiyululiyepa
Jul 14, 2020 at 09 11 am[url=http://mewkid.net/when-is-xicix/]Amoxil[/url] Amoxicillin 500mg Capsules htd.iite.financialinsiders.com.lfk.nh http://mewkid.net/when-is-xicix/
akimxembrire
Jul 24, 2020 at 02 47 pm[url=http://mewkid.net/when-is-xuxlya/]Amoxicillin 500mg Capsules[/url] Buy Amoxicillin aqo.cmow.financialinsiders.com.moe.xq http://mewkid.net/when-is-xuxlya/
axuvixj
Jul 24, 2020 at 03 06 pm[url=http://mewkid.net/when-is-xuxlya/]Amoxicillin 500mg[/url] Amoxicillin 500mg Dosage flx.tdis.financialinsiders.com.nza.vs http://mewkid.net/when-is-xuxlya/
DavidNopsy
Aug 23, 2020 at 10 08 am[url=https://megaremont.pro/msk-restavratsiya-vann]Enamel coating of baths in Mytishchi[/url]
DavidNopsy
Aug 24, 2020 at 01 09 am[url=https://megaremont.pro/msk-restavratsiya-vann]Restoration of baths in Mytishchi[/url]
Rufusstelp
Feb 22, 2021 at 02 39 am[url=https://drawing-portal.com]The website drawing[/url]
KeHoifs
Jun 28, 2021 at 02 46 pmИндивидуальные [url=https://proxyspace.seo-hunter.com/mobile-proxies/kazan/] прокси для работы Вконтакте [/url] динамические