Loading...
•
Mar 31, 2021
Shake Shack Q1 2021 Earnings Report
Shake Shack's financial performance saw revenue increase and same-shack sales improve, but operating loss persisted.
Key Takeaways
Shake Shack reported an 8.5% increase in total revenue to $155.3 million for the first quarter of 2021. Same-Shack sales improved by 5.7%. The company opened 10 domestic company-operated shacks and 2 licensed shacks during the quarter. However, the operating loss was $10.0 million, compared to a $0.8 million loss in the same period last year.
Total revenue increased by 8.5% to $155.3 million compared to Q1 2020.
Same-Shack sales increased by 5.7% compared to the same period last year.
Shack system-wide sales increased by 3.0% to $228.3 million.
The company opened 10 new domestic company-operated Shacks and two new licensed Shacks.
Shake Shack
Shake Shack
Shake Shack Revenue by Segment
Revenue by Segment
Shack Sales Revenue
CapyFin.com Forward Guidance
The Company is providing revenue and sales guidance for the second quarter 2021.
Positive Outlook
- Total Revenue $174 million to $183 million
- Shack Sales $170 million to $178 million
- Licensed Revenue $4 million to $5 million
- Same-Shack Sales versus 2020 + mid 40s% to 50% increase
- Shack-Level Operating Profit 15% to 17%
Challenges Ahead
- Given the substantial uncertainty and resulting material economic impact caused by the COVID-19 pandemic, the Company is not providing full guidance for the fiscal year ending December 29, 2021
- Impacted by the ongoing uncertainty due to COVID
- Rate of recovery continues to be impacted by COVID
- Development plans continue to be impacted by COVID
- Many major urban markets, such as Manhattan, remain materially below pre-COVID levels, while office, events and tourism traffic return.