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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.
Shake Shack
Shake Shack
Shake Shack Revenue by Segment
Revenue by Segment
Shack Sales Revenue
CapyFin.com 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the substantial uncertainty and subsequent material economic impact caused by the COVID-19 pandemic, the Company has withdrawn its guidance for the fiscal year ending December 30, 2020.