Fast food chain Shake Shack shakes revenue up to $53.3m in third quarter of 2015 results
Shake Shack has today reported total revenue of $53.3m (£35.1m) for its third quarter of 2015, an increase of 67 per cent from £31.8m from the same period last year.
The fast-food chain also revealed net income for the period of $1.5m, up from $0.5m.
Commenting on the company’s quarter, Randy Garutti, chief executive officer of Shake Shack, said: “We opened four domestic company-operated Shacks during the quarter and, as previously announced, we will be officially opening our first Shack in Tokyo in the remarkable Meiji-Jingu Gaien park this November, ahead of schedule. 2015 has been an exceptional year for us and, with the opening of two additional domestic company-operated Shacks subsequent to the quarter, we have delivered on our target to open 12 new domestic company-operated Shacks for 2015.
“Looking ahead, we now expect to open at least 14 domestic company-operated Shacks next year and beyond. We remain well positioned for continued success as we capitalise on our unique development opportunities.”
Revenue for sales of food and drink from company-owned outlets came in at $51.3m, up 70 per cent compared to $30.2m last year.
Share price soared to a high of $54.72 in after hours trading, up 11.9 per cent from a close of $48.92.