Shake Shack, Inc. (NYSE:SHAK) Q4 2021 Earnings Conference Call February 17, 2022 5:00 PM ET Company Participants Annalee Leggett - Senior Manager-Investor Relations and FP&A Randy Garutti - Chief Executive Officer Katie Fogertey - Chief Financial Officer Conference Call Participants Michael Tamas - Oppenheimer Jared Garber - Goldman Sachs Sharon Zackfia - William Blair Nick Setyan - Wedbush Securities Lauren Silberman - Credit Suisse Andrew Charles - Cowen and Company Brian Mullan - Deutsche Bank Jeffr ...

Shake Shack Inc. (NYSE:SHAK) Q3 2021 Earnings Conference Call November 4, 2021 5:00 PM ET Company Participants Annalee Leggett – Senior Manager-Investor Relations and FP&A Randy Garutti – Chief Executive Officer Katie Fogerty – Chief Financial Officer Conference Call Participants Jim Sanderson – North Coast Research Jared Garber – Goldman Sachs Nicole Miller – Piper Sandler Michael Tamas – Oppenheimer and Company Lauren Silberman – Credit Suisse Andrew Charles – Cowen Jeffrey Bernstein – Barclays John Glass ...

Financial Data and Key Metrics Changes - Total revenue in Q2 2021 was $187.5 million, up 104% year-over-year, marking the highest revenue quarter ever for the company [9][20] - Shack sales were $181.5 million, reflecting a year-over-year growth of 102.7% [20] - Shack level margin improved to 19.2% in Q2, a 420 basis-point increase from the first quarter [10][30] Business Line Data and Key Metrics Changes - Same Shack sales increased by 52.7% year-over-year in Q2, with traffic growing 61.5% year-over-year [22][27] - Digital sales accounted for 47% of Shack sales in Q2, with a retention rate of approximately 80% [27][28] - The company opened 20 domestic company-operated Shacks in 2021 and plans to open 15 to 18 more by year-end [11][12] Market Data and Key Metrics Changes - Urban markets showed signs of recovery, with same Shack sales down only 9% compared to July 2019 levels [9][24] - The Southeast region, particularly Texas, reported same Shack sales above 2019 levels, indicating strong market performance [26] - Licensed business saw a strong uptick in sales, with weekly sales performance increasing from $6.6 million in April to $8.7 million in July [13][14] Company Strategy and Development Direction - The company is focusing on the evolution of Shack formats through physical and digital transformation to enhance guest experience [10] - Plans to open drive-thru locations and Shack Track walk-up windows are part of the strategic investment in new formats [11][12] - The company is committed to investing $10 million in team members for wage increases and leadership development [7][19] Management's Comments on Operating Environment and Future Outlook - Management remains cautious about the ongoing COVID situation but is encouraged by the current momentum in sales recovery [9][39] - The company expects to see continued growth in both urban and suburban markets, with a focus on digital sales and new Shack openings [29][30] - Management believes that investments in team members and innovation will position the company for stronger recovery and growth [39][40] Other Important Information - The company plans to raise menu prices by 3% to 3.5% in Q4 to counter inflationary pressures [33] - G&A expenses for 2021 are slightly raised to between $86 million and $88 million to support growth initiatives [36] - The balance sheet remains strong, ending the quarter with $420.2 million in cash and marketable securities [38] Q&A Session Summary Question: Importance of maintaining positive sales gap for new Shacks - Management acknowledges the importance of maintaining the positive sales gap and highlights the mix of suburban and urban locations contributing to strong performance [42][43] Question: Details on the $10 million investment in team members - Management confirms that a significant portion of the investment will be loaded in the back half of the year, focusing on wage increases and retention bonuses [45][46] Question: Managing elevated construction costs - Management emphasizes the long-term vision for building Shacks and the importance of investing in new formats despite current cost pressures [48][50] Question: Recovery rates of new unit classes - Management indicates that it is too early to provide reliable comparisons for recovery rates of new unit classes due to COVID impacts [65][66]

Shake Shack, Inc. (NYSE:SHAK) Q1 2021 Earnings Conference Call May 6, 2021 5:00 PM ET Company Participants Rik Powell - SVP, Finance Randy Garutti - CEO & Director Tara Comonte - President & CFO Conference Call Participants Nicole Miller - Piper Sandler Jared Garber - Goldman Sachs Group Lauren Silberman - Credit Suisse Michael Tamas - Oppenheimer John Glass - Morgan Stanley Jeffrey Bernstein - Barclays Bank Andrew Charles - Cowen and Company David Tarantino - Baird Peter Saleh - BTIG Brett Levy - MCM Jim S ...