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Mar 25, 2020
Shake Shack Q1 2020 Earnings Report
Revenue increased by 8.0% to $143.2 million, but same-shack sales decreased by 12.8% due to the impact of COVID-19.
Key Takeaways
Shake Shack's first quarter results were impacted by the COVID-19 pandemic, with total revenue increasing by 8.0% to $143.2 million, but same-shack sales decreasing by 12.8%. The company has taken measures to enhance its liquidity position including drawing down $50.0 million from its revolving credit facility and completing an underwritten offering of Class A common stock.
Total revenue increased 8.0% to $143.2 million.
Same-Shack sales decreased 12.8%, with approximately 2% decrease in fiscal February year-to-date, and approximately 29% decrease in fiscal March.
Operating loss of $0.8 million, which included a non-cash asset impairment charge of $1.1 million.
Twelve net system-wide Shack openings, comprised of four domestic company-operated Shacks and eight net licensed Shacks.
Revenue by Segment
Forward Guidance
Given the substantial uncertainty and subsequent material economic impact caused by the COVID-19 pandemic, the Company has withdrawn its guidance for the fiscal year ending December 30, 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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