Loading...
•
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.
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 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%