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Shake Shack Inc. (SHAK) SEC Filing 10-Q Quarterly report for the period ending Wednesday, June 26, 2019

Shake Shack Inc.

CIK: 1620533 Ticker: SHAK
Exhibit 99.1


 shak-img_shakeshacklogoa12.jpg

Shake Shack Announces Second Quarter 2019 Financial Results
- Total Revenue Grew 31.3% to $152.7 Million -
- Same-Shack Sales Increased 3.6% -
- System-wide Year-Over-Year Unit Growth of 32% -


 
NEW YORK, NY (Business Wire) — August 5, 2019 Shake Shack Inc. (“Shake Shack” or the “Company”) (NYSE: SHAK) today reported its financial results for the second quarter ended June 26, 2019, a period that included 13 weeks.
Financial Highlights for the Second Quarter 2019 compared to the Second Quarter 2018:
Total revenue increased 31.3% to $152.7 million.
Shack sales increased 31.0% to $147.9 million.
Same-Shack sales increased 3.6%.
Licensed revenue increased 42.9% to $4.8 million.
Shack system-wide sales increased 33.2% to $225.9 million.
Operating income was $11.9 million, or 7.8% of total revenue, which included the impact of costs associated with the Company's enterprise-wide system upgrade implementation, Project Concrete, and other one-time items totaling $0.5 million, resulting in a decrease of 8.8%.
Shack-level operating profit*, a non-GAAP measure, increased 13.7% to $36.2 million, or 24.4% of Shack sales.
Net income was $11.2 million and adjusted EBITDA*, a non-GAAP measure, increased 18.5% to $25.9 million.
Nineteen system-wide Shack openings, comprised of 11 domestic company-operated Shacks and 8 licensed Shacks.

* Shack-level operating profit and adjusted EBITDA are non-GAAP measures. Reconciliations of Shack-level operating profit to operating income and adjusted EBITDA to net income, 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, “More than halfway through 2019, we are pleased to report continued strong momentum into the second quarter across all areas of the business. System-wide sales increased 33.2%, total revenue grew by 31.3% and adjusted EBITDA increased 18.5%, driven by positive same-Shack sales of 3.6% with traffic growth of 1.3%. Our digital channels, including delivery, were a key contributor to these results, in conjunction with a benefit from the shift in Easter timing within the second quarter. To further strengthen our ongoing digital evolution, and as a part of our focus on accessibility and convenience for our guests, we’re pleased to announce an integrated delivery partnership with Grubhub, which will be rolled out across the system over the remainder of this year and into early next.”

Garutti concluded, “Based on our second quarter results, we are raising our overall revenue guidance including our licensing revenue guidance. It has been a tremendous year so far for our international business, having entered Mainland China for the first time in January, the Philippines and Singapore in the second quarter, and most recently Mexico, earlier in the third quarter. To further our international growth in Asia, we are also pleased to announce our expansion into Beijing through our newly executed development agreement with Maxim's Caterers. We’ve had an incredible start in Hong Kong over the past year, and combined with our first six months in Shanghai, we're bullish on the tremendous growth opportunity we believe exists for the Shake Shack brand in Mainland China. Overall, we have strong and positive momentum across the business heading into the second half of the year and continue to execute well against a robust domestic and international development pipeline, while also testing new Shack formats, and increasing accessibility and convenience through ongoing digital innovation.”








The following information was filed by Shake Shack Inc. (SHAK) on Monday, August 5, 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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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)
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Equity-Based Compensation - Schedule Of Compensation Expense Recognized (Details)
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Revenue - Schedule Of Revenue Recognized (Details)
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Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
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Shake Shack Inc. provided additional information to their SEC Filing as exhibits

Ticker: SHAK
CIK: 1620533
Form Type: 10-Q Quarterly Report
Accession Number: 0001620533-19-000105
Submitted to the SEC: Mon Aug 05 2019 1:20:34 PM EST
Accepted by the SEC: Mon Aug 05 2019
Period: Wednesday, June 26, 2019
Industry: Retail Eating And Drinking Places

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