Welcome to our dedicated page for Shake Shack news (Ticker: $SHAK), a resource for investors and traders seeking the latest updates and insights on Shake Shack stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Shake Shack's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Shake Shack's position in the market.
Shake Shack announced its first-quarter 2024 financial results, showcasing total revenue of $290.5 million, up 14.7% from 2023. The company reported positive growth in Shack sales and Licensing revenue, with system-wide sales reaching $443.3 million, up 12.3% from the previous year. Same-Shack sales increased by 1.6% compared to 2023, with a notable 4.9% growth in April. Operating income showed a significant improvement, turning from an operating loss of $3.2 million in 2023 to $0.0 million in 2024. The restaurant-level profit was reported at $54.7 million, representing 19.5% of Shack sales. Net income also showed improvement, with $2.2 million in 2024 compared to a net loss of $1.6 million in 2023. Adjusted EBITDA increased by 30.2% to $35.9 million. The company opened four new Company-operated Shacks, including two drive-thrus, and four licensed Shacks.