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Shake Shack Inc. (SHAK) SEC Filing 10-Q Quarterly report for the period ending Wednesday, March 27, 2019

Shake Shack Inc.

CIK: 1620533 Ticker: SHAK
Exhibit 99.1


 shak-img_shakeshacklogoa08.jpg

Shake Shack Announces First Quarter 2019 Financial Results
- Total Revenue Grew 33.8% to $132.6 Million -
- Same-Shack Sales Increased 3.6% -
- System-wide Year-Over-Year Unit Growth of 30% -


 
NEW YORK, NY (Business Wire) — May 2, 2019 Shake Shack Inc. (“Shake Shack” or the “Company”) (NYSE: SHAK) today reported its financial results for the first quarter ended March 27, 2019, a period that included 13 weeks.
Financial Highlights for the First Quarter 2019 compared to the First Quarter 2018:
Total revenue increased 33.8% to $132.6 million.
Shack sales increased 33.8% to $128.6 million.
Same-Shack sales increased 3.6%.
Shack system-wide sales increased 33.5% to $195.2 million.
Operating income was $5.2 million, or 3.9% of total revenue, which included the impact of costs associated with Project Concrete and other one-time items totaling $0.5 million, resulting in a decrease of 20.8%.
Shack-level operating profit*, a non-GAAP measure, increased 12.5% to $27.0 million, or 21.0% of Shack sales.
Net income was $3.6 million and adjusted EBITDA*, a non-GAAP measure, increased 10.4% to $17.8 million.
Twelve system-wide Shack openings, comprised of five domestic company-operated Shacks and seven licensed Shacks.

* Shack-level operating profit, adjusted EBITDA and adjusted pro forma net income are non-GAAP measures. Reconciliations of Shack-level operating profit to operating income, adjusted EBITDA to net income, and adjusted pro forma net income to net income attributable to Shake Shack Inc., the most directly comparable financial measures presented in accordance with GAAP, are set forth in the schedules accompanying this release. See “Non-GAAP Financial Measures.”
Randy Garutti, Chief Executive Officer of Shake Shack, stated, “We are pleased with the strong momentum from 2018 carried forward into the first quarter of this year. We grew total revenue by almost 34%, Adjusted EBITDA by over 10% and delivered positive same-Shack sales of 3.6%, including a return to positive traffic growth of 1.6%. Our performance was supported by the strength from new openings, the holiday shift and warm weather conditions across a number of key markets early in the quarter and the continued growth of our digital channels, where we see significant ongoing opportunities."

Garutti concluded, “Based on our first quarter results, we are raising both our overall revenue and same-Shack Sales expectations for the year. We are on track to open 36 to 40 new company-operated Shacks, marking our largest class yet. We also plan to open 16 to 18 net new licensed Shacks with our international growth focused on Asia and our new markets of mainland China, Singapore, the Philippines and Mexico. 2019 is off to a solid start as we remain focused on the execution of our key strategic commitments that will continue to drive growth.”









The following information was filed by Shake Shack Inc. (SHAK) on Thursday, May 2, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Shake Shack Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Inside Shake Shack Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statement Of Income (Unaudited)
Condensed Consolidated Statement Of Stockholders' Equity (Unaudited)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited) (Parenthetical)
(Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Antidilutive Securities (Details)
Earnings Per Share - Schedule Of Earnings Per Share (Details)
Equity-Based Compensation
Equity-Based Compensation (Tables)
Equity-Based Compensation - Schedule Of Compensation Expense Recognized (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Details)
Fair Value Measurements - Available For Sale Securities And Gross Realized Gains And Losses (Details)
Fair Value Measurements - Cash, Cash Equivalents And Marketable Securities (Details)
Fair Value Measurements - Other Income From Available For Sale Securities (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Of Income Tax Expense (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Leases
Leases - Lease Cost (Details)
Leases - Lease Maturity (Details)
Leases - Narrative (Details)
Leases - Schedule Of Accounting Pronouncements (Details)
Nature Of Operations
Nature Of Operations (Details)
Non-Controlling Interests
Non-Controlling Interests - Changes In Ownership Interests In Sse Holdings (Details)
Non-Controlling Interests (Tables)
Non-Controlling Interests - Narrative (Details)
Non-Controlling Interests - Ownership Interest In Sse Holdings (Details)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Related Party Transactions (Details)
Revenue
Revenue (Tables)
Revenue - Liability Balance (Details)
Revenue - Narrative (Details)
Revenue - Schedule Of Disaggregation Of Revenue (Details)
Revenue - Schedule Of Respective Liability Balances (Details)
Revenue - Schedule Of Revenue Recognized (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Supplemental Balance Sheet Information
Supplemental Balance Sheet Information (Details)
Supplemental Balance Sheet Information (Tables)
Supplemental Balance Sheet Information Other Long-Term Liabilities (Details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Details)
Supplemental Cash Flow Information (Tables)

Material Contracts, Statements, Certifications & more

Shake Shack Inc. provided additional information to their SEC Filing as exhibits

Ticker: SHAK
CIK: 1620533
Form Type: 10-Q Quarterly Report
Accession Number: 0001620533-19-000053
Submitted to the SEC: Mon May 06 2019 1:01:43 PM EST
Accepted by the SEC: Mon May 06 2019
Period: Wednesday, March 27, 2019
Industry: Retail Eating And Drinking Places

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