Today, Shake Shack Inc. announced its preliminary results for the fiscal year 2024, along with an updated outlook on its long-term targets.
Shake Shack’s CEO, Rob Lynch, told investors today, “We are proud to announce that we ended FY2024 with 329 Company-operated Shacks with a marked improvement in our profitability and returns. However, we believe that we are just getting started, and see an ample runway for growth ahead. We are committed to bringing the world’s best fine casual experience to as many guests, team members, and communities as possible.”
Lynch, who joined Shake Shack from Papa John’s International in 2024, said the company could eventually expand to 1,500 Shacks, compared to the prior target of 450. The company currently operates 329 restaurants.
“We designed our six 2025 Strategic Priorities to deliver on our robust opportunity, mission and objective. These are to (1) Build a culture of leaders, (2) Optimize restaurant operations, (3) Drive comp sales by increasing guest frequency, (4) Build and operate our Shacks with best-in-class returns, (5) Accelerate our Licensed business, and (6) Invest in long-term strategic capabilities.” Lynch said.
For 2025, Shake Shack expects a revenue of as much as $1.5 billion and same-store sales growth of approximately 3%.
Shake Shack’s CFO, Katie Fogertey, said, “We ended 2024 with broad based strength in the business. Our preliminary unaudited results show that in the fourth quarter FY2024, we grew same-Shack sales by 4.3%, Total revenue by 14.8%, expanded our restaurant margins by nearly 300 basis points year-over-year to 22.7% – the highest fourth quarter level since 2017.”
By CEO NA Editorial Staff
