Shake Shack plans to increase its footprint to 1500 stores over the long term after reporting double-digit revenue growth for the fourth quarter.
The chain targets at least 1500 domestic company-operated restaurants over time, according to CEO Rob Lynch. It ended FY24 with 329 company-operated Shacks across 33 states and approximately 200 licensed locations across many countries.
For FY25, the company expects total revenue to increase 16-18 per cent and same-Shack sales growth of approximately 3 per cent.
Three-year revenue and system-wide unit growths are expected to be in the low-teens.
“We designed our six 2025 Strategic Priorities to deliver on our robust opportunity, mission and objective,” said Lynch.
“These are to build a culture of leaders, optimize restaurant operations, drive comp sales by increasing guest frequency, build and operate our Shacks with best-in-class returns, accelerate our licensed business, and invest in long-term strategic capabilities,” Lynch elaborated.
In the fourth quarter of FY24, Shake Shack posted a 14.8 per cent increase in revenue and 4.3 per cent improvement in same-restaurant sales. Its full-year revenue grew to $1.3 billion, with same-restaurant sales growth of 3.6 per cent, in line with its previous guidance.