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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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