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Sep 29, 2021
Shake Shack Q3 2021 Earnings Report
Highest revenue quarter ever, driven by positive sales performance and recovery in urban and suburban Shacks.
Key Takeaways
Shake Shack reported a strong third quarter with total revenue increasing by 48.7% year-over-year to $193.9 million and system-wide sales growing by 53.1% to $298.6 million. Same-Shack Sales were up 24.8% versus 2020. The company saw benefits from urban Shacks as guests returned to offices, events, commuting and tourism-based locations, while suburban Shacks continued to recover above 2019 levels.
Total Revenue grew 48.7% year-over-year to $193.9 million, and system-wide sales grew 53.1% to nearly $299 million.
Third quarter Same-Shack Sales were up 24.8% versus 2020.
Momentum versus 2019 continued into fiscal October with overall Same-Shack Sales down 1% and suburban Same-Shack Sales up 7%.
Retained nearly 80% of digital sales in fiscal September from high in fiscal January 2021. Acquired 14% more first time purchasers through Company-owned digital channels versus the prior quarter.
Revenue by Segment
Forward Guidance
The Company is providing revenue and sales guidance for the fourth quarter of 2021.
Positive Outlook
- Total revenue $193.5 million to $200 million
- Shack sales $187 million to $193 million
- Licensing revenue $6.5 million to $7 million
- Same-Shack sales versus 2020 + mid to high teens
- Shack-level operating profit margin 14% to 16%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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