Shake Shack reports turnaround in fourth quarter of 2021

Preliminary results show success in suburbs as NYC stronghold continues to lag

 

Bret Thorn, Nation's Restaurant News

Jan 11, 2022

 

Shake Shack’s same-store sales surpassed pre-pandemic levels in the fourth quarter of 2021 as suburban sales gained momentum, according to a preliminary business update it released ahead of the annual ICR conference Tuesday.

 

Average weekly sales were $74,000 per restaurant for the quarter ended Dec. 29, 2021, up from $72,000 in the third quarter of 2021. Same-store sales were up by 2.2% in the fourth quarter compared to the fourth quarter of 2019.

 

In the third quarter they were down by 7.3%.

 

Same-store sales were up by 20.8% compared to the fourth quarter of 2020. For the fiscal year, they were up by 24.2%.

 

The turnaround comes despite the fact that the New York City-based fast-casual burger chain continues to see sales lag in its hometown, where it has nearly 30 of its more than 240 domestic locations — traditionally some of its highest-volume restaurants — and where sales remain down by more than 20%...

 

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https://www.nrn.com/fast-casual/shake-shack-reports-turnaround-fourth-quarter-2021