Shake Shack is scheduled to report fourth quarter earnings after the closing bell Thursday.
- Shake Shack reported earnings that beat Wall Street's expectations on Thursday.
- The chain reported a loss of $0.05 per share on revenues of $96.8 million.
Shake Shack on Thursday posted fourth-quarter earnings and revenue that exceeded Wall Street's expectations.
The company earned an adjusted $0.10 on revenue of $96.1 million, beating the $0.06 and $92.8 million that was expected.
Same-Shack sales were up 0.8% for the quarter, but down 1.2% year-over-year, the company said, while total sales and revenue were both up 33.6% for the year.
"I'm incredibly proud of our team's achievements throughout 2017. We delivered another year of robust global growth, opening 26 new company-operated domestic Shacks and 19 net licensed Shacks, representing a nearly 40% increase on our base," CEO Randy Garutti said in a press release.
"2017 marked a milestone year of digital innovation for Shake Shack, with the launch of the Shack app, self-serve kiosks at select locations and several integrated delivery pilots designed to further enhance the guest digital experience. We will continue to build on this momentum into 2018 and beyond.”
Shake Shack has been aggressively expanding and currently operates 160 restaurants around the world, 60 of which are outside the United States. It has also released several new menu items to keep up with competitors like Chick-Fil-A.
In 2018, Shake Shack says investors should expect revenue of $444 million to $448 million, and that plans to open 32 to 25 company-operated restaurants in the US, as well as 16 to 18 new licensed outlets.
"We’re also focused on further strengthening our infrastructure to deliver against the significant long-term opportunity we have in our sights," Garutti said. "By the end of 2020, we plan to have more than doubled our 2017 system-wide Shack count and increase our revenue to over $700 million."
Shares of Shake Shack have gained 12% in the past 12 months — in line with its competitors.
Shake Shack is scheduled to report fourth quarter earnings after the closing bell Thursday. Read Full Story
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