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Shake Shack It has its sights set on expanding the widely popular burger chain.
The company has raised its goal for company-operated restaurants in America to “at least” 1,500 over the long term, Shake Shack revealed Monday.
This would represent an increase of approximately 356% over the number Burger restaurants It is currently running in the United States
Shake Shack is an American fast food restaurant that serves a variety of burgers, hot dogs, fries, chicken nuggets, sandwiches, snacks, and more. (/ iStock)
Shake Shack said its U.S. presence includes 329 company-operated locations at the end of fiscal 2024. The burger chain is also available outside America, with more than 200 restaurants spread across several global markets.
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“Since the company’s founding in 2004, Shake Shack has been on a constant journey to expand how we deliver enlightened hospitality to our guests and elevate our team members and communities. We are proud to announce that we have closed fiscal year 2024 with 329 company-operated cabins with marked improvement,” said CEO Rob Lynch. “In our profitability and returns.” “However, we believe we are just getting started, and we see a broad path for growth in the future.”
Cheeseburger with tomato and lettuce in paper wrap at Shake Shack, Walnut Creek, California, August 25, 2024. (Smith Collection/Gado/Getty Images)
The new number would be a big jump from 450-Restaurant A long-term goal Shake Shack set when it began trading publicly about a decade ago, too.
Shake Shack told FOX Business it is “looking at 20 priority markets and growing more in its existing regions.”
Shake Shack It also said Monday that it believes over the next three years it can achieve overall revenue growth of the “low to 10%” and EBITDA growth “in the low to mid-10% range.”
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The burger chain said it expects to see total revenue of $1.45-1.48 billion and adjusted EBITDA of $200-210 million for fiscal 2025 specifically, according to the statement.
Travelers eat at a Shake Shack restaurant in Terminal A of Newark Liberty International Airport on September 28, 2024, in Newark, New Jersey. (Gary Hirschorn/Getty Images)
“Our 2025 guidance and outlook for the next three years represent some of the highest growth rates in the restaurant industry as we invest and execute on the strong long-term opportunities ahead,” said CFO Katie Fogerty.
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It seeks to open about 45 company-operated locations and 35-40 licensed locations through 2025, according to Shake Shack.
| tape | protection | last | It changes | % changes |
|---|---|---|---|---|
| Shaq | Shake Shack | 121.51 | -6.94 |
-5.40% |
The company employed approximately 12,200 people at the end of 2023.
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