Shake Shack Inc - SHAK STOCK NEWS

Shake Shack Inc. (NYSE: SHAK) has announced its participation in two upcoming investor conferences in September 2024. CEO Rob Lynch and CFO Katherine Fogertey will represent the company at these events:

1. Goldman Sachs' 31st Annual Global Retailing Conference on September 4, 2024, with a fireside chat at 3:15 p.m. Eastern Time.

2. TD Cowen's Sip, Snack and Scrub Summit on September 17, 2024, featuring a fireside chat at 1:25 p.m. Eastern Time.

Both fireside chats will be webcasted and available for viewing on Shake Shack's Investor Relations website under the Events & Presentations page.

Serve Robotics (NASDAQ: SERV) and Shake Shack (NYSE: SHAK) have partnered to offer autonomous robot delivery via Uber Eats in select Los Angeles areas. This collaboration marks Serve's progress towards deploying 2,000 AI-powered sidewalk delivery robots on the Uber platform by 2025. Serve's robots, which have been operating on Uber Eats since 2022, offer quick, convenient, and contactless delivery with advanced features including:

• Efficient route planning
• Secure food transit
• Cost-effective operations
• Safe navigation using GPS and AI
• Eco-friendly, all-electric design

This partnership aims to enhance guest experiences and expand Serve's geographic footprint while providing an innovative, affordable, and reliable delivery option for customers.

Shake Shack (NYSE: SHAK) reported strong financial results for Q2 2024, with total revenue up 16.4% to $316.5 million. The company saw system-wide sales increase by 13.5% to $483.7 million, and same-Shack sales grow by 4.0% compared to 2023. Operating income more than doubled to $10.8 million, while net income rose to $10.4 million. Adjusted EBITDA showed significant growth, increasing 27.4% to $47.2 million. The company's expansion continued with the opening of twelve new Company-operated Shacks, including three drive-thrus, and eleven new licensed Shacks. Earnings per diluted share reached $0.23, with adjusted pro forma earnings of $0.27 per fully exchanged and diluted share.

Shake Shack Inc. (NYSE: SHAK) has announced that it will release its second quarter 2024 financial results on August 1, 2024, before the market opens. The company will host a conference call at 8:00 a.m. ET on the same day to discuss the results. Rob Lynch, Chief Executive Officer, and Katie Fogertey, Chief Financial Officer, will host the call.

Investors and analysts can access the call live by dialing (877) 407-0792 for domestic callers or (201) 689-8263 for international callers. A replay will be available until August 8, 2024. Additionally, a live audio webcast of the conference call will be accessible on Shake Shack's Investor Relations website, with an archived replay available shortly after the event concludes.

Shake Shack has appointed Stephanie Sentell as Chief Operations Officer, effective July 1, 2024. Sentell, with 23 years in the restaurant industry, has held executive roles at Inspire Brands and Arby’s, managing operations of over 1,100 restaurants and leading 22,000 team members. She brings a proven track record in operational efficiencies and profitability improvements. Sentell will oversee all domestic operations, reporting to CEO Rob Lynch. This strategic move aims to leverage Sentell's expertise for Shake Shack's considerable growth opportunities.

Shake Shack has announced its participation in three upcoming investor conferences in June 2024. Katherine Fogertey, the company's CFO, will represent Shake Shack at these events. The first fireside chat will take place on June 5, 2024, at TD Cowen’s 8th Annual Future of the Consumer Conference at 10:50 a.m. Eastern Time. The second will be on June 6, 2024, at Baird’s 2024 Global Consumer, Technology & Services Conference at 10:15 a.m. Eastern Time. The final event is a virtual fireside chat on June 10, 2024, at Oppenheimer’s 24th Annual Consumer Growth & E-Commerce Conference at 9:00 a.m. Eastern Time. All fireside chats will be webcasted and available on Shake Shack's Investor Relations website.

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.