Urban units, however, remain 50 percent lower as they materially underperform suburban markets (negative 24 percent). So far in Q3, same-store sales are down 39 percent. Net loss was $18 million.īut what needs to be considered is how Shake Shack’s performance unfurled across the map. Shake Shack posted operating loss of $24.1 million compared to income of $11.9 million in Q2 2019. The brand’s Q2 revenue declined 39.9 percent to $91.8 million as same-store sales plummeted 49 percent. The clear goal won’t change, though-accessibility and multiple points of purchase fueled by a digital era.īack to the asset conversation, Shake Shack’s current footprint is inspiring change as much as the future is. We want to do it better than ever with an experience that you stay in whichever drive-thru you want.”īelow are some renderings, although Garutti cautioned they’re still evolving. But obviously, this country has proven that the drive thru in its old form works. “Look, in the moment of safety, people want to stay in their cars,” he added. “Our hope is that we create access in places where we may not have had access before, and we create opportunity in real estate that we may not have had before,” Garutti said. While Shake Shack did not share potential markets yet, it will focus on traditional, suburban high-traffic trade areas. On the drive-thru debut itself, however, Garutti said it’s not going to be your average fast-food experience. Also, Shake Shack is currently piloting curbside pickup at 10 locations with plans to expand to 50 by the end of Q3.įor 2021, Shake Shack CEO Randy Garutti said, the brand expects roughly half of its new class to feature either a drive-up or walk-up window, with the remaining showcasing a combination of enhanced interior pickup curbside and/or dedicated delivery courier pickup areas. Shake Shack expects to retrofit the latter to at least eight restaurants over the coming months, including a drive-up Shake Track (not a drive thru) in Vernon Hills, Illinois, where guests leave their car. This includes Shake Shack’s first drive thru, planned for 2021, in addition to “Shack Tracks,” which are digitally enabled pickup windows. The fast casual announced Thursday during its Q2 review that it plans to aggressively target a multi-format, diversified portfolio of restaurants that thrive under any circumstance. It’s why Shake Shack is about to reroute its trajectory, and quickly. Accessibility as the key to transaction growth. It’s become, in many cases, a points of distribution game. Diners might rethink choices for reasons that were hardly deal breakers before. There’s a fear factor and erosion in guest willingness to dine out thrown in the mix. In a COVID-19-saddled world, demand doesn’t always translate to sales. ![]() locations.Īnd throughout the last few years, this notion was enough to anchor ambitious growth and new-market success. Simply, it feels a lot bigger than 193 U.S. ![]() ![]() As BTIG analyst Peter Saleh put it, Shake Shack is the rare restaurant chain whose brand awareness and recognition exceeds its size and sales base.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |