Shake Shack Inc. (NYSE:SHAK) Q1 2023 Earnings Conference Call May 4, 2023 8:00 AM ET Company Participants Annalee Leggett - Director of Investor Relations & FP&A Randy Garutti - Chief Executive Officer Katie Fogertey - Chief Financial Officer Conference Call Participants Jeffrey Bernstein - Barclays Capital Michael Tamas - Oppenheimer & Co. Jake Bartlett - Truist Securities Drew North - Robert W. Baird & Co. Jim Sanderson - Northcoast Research Maggie O'Hearn - Raymond James John Ivankoe - JPMorgan Chase & C ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☑ EXCHANGE ACT OF 1934 For the quarterly period ended March 29, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☐ EXCHANGE ACT OF 1934 For the transition period from _______ to ______ Commission file number: 001-36823 SHAKE SHACK INC. (Exact name of registrant as specified in its charter) Delaware 47-1941186 (State or othe ...

Expansion and Growth - Shake Shack has expanded to over 400 locations globally, including over 260 in the U.S. and more than 140 international locations[13]. - In fiscal 2022, Shake Shack added 67 net new system-wide Shacks, reaching a total of 436 Shacks worldwide[96]. - The company expanded its domestic Company-operated footprint by opening 36 net new Shacks in 2022, representing a 17% increase from the prior fiscal year, totaling 254 domestic Company-operated Shacks[98]. - For 2023, Shake Shack is targeting to open approximately 40 new Company-operated Shacks as part of its multi-format strategy[100]. - In fiscal 2022, Shake Shack opened 25 international Shacks, including 13 in China and Hong Kong, and plans to expand into new markets like Guadalajara and Wuhan in 2023[106]. Workforce and Talent Development - As of December 28, 2022, Shake Shack employed 11,704 team members, with 11,316 being hourly team members and Shack-level managers[25]. - Shake Shack aims to improve its talent acquisition strategy by leveraging data and analytics to attract top talent in a competitive labor market[26]. - The company initiated a tipping program in 2022, allowing team members to increase their hourly pay through tips[32]. - Shake Shack has set 5-year diversity targets to increase representation of women and people of color within its leadership teams[34]. - In fiscal 2022, Shake Shack promoted 2,604 employees, with 55% being women and 77% underrepresented minorities[44]. - The Shift Up program had 86 participants in fiscal year 2022, achieving an 88% completion rate and a 91% retention rate[45]. Digital and Customer Experience - The company is focused on enhancing its digital capabilities and expanding delivery services, including investments in kiosks and drive-thrus[8]. - Digital guest experience improvements included the launch of a new Android app version with enhanced order modes and Google Pay integration[53][55]. - The company saw significant growth in digital sessions and mobile orders year over year, attributed to investments in guest experiences[49]. - Shake Shack introduced digital gift card redemption in Q4 2022, enhancing the guest experience and enabling B2B sales opportunities[57]. - The company implemented a new customer engagement platform, Gladly, improving hospitality case resolution time since its launch in August 2022[56]. - Shake Shack's digital marketing strategy, utilizing Braze, led to increased email and push notification subscriptions since its launch in June 2022[52]. Culinary Innovation and Menu Development - Shake Shack's culinary innovation includes collaborations with award-winning chefs and the introduction of limited-time offerings, such as the Bourbon Bacon Cheddar Burger and Chicken in May 2022[91]. - The company launched a non-dairy chocolate shake and frozen custard in May 2022, partnering with NotCo to cater to growing demand for plant-based options[94]. - Shake Shack's Innovation Kitchen allows for the exploration of new menu items and culinary creativity, contributing to the overall guest experience[90]. Community Engagement and Social Responsibility - The HUG Fund provided financial grants to 41 team members in fiscal 2022 to assist with financial burdens caused by catastrophic events[39]. - Shake Shack's community engagement included matching $1 for every sandwich purchased on new Shack opening days to local nonprofit partners[66]. - Shake Shack is committed to environmental responsibility, sourcing ingredients from suppliers that share its values, including non-GMO products and sustainable packaging[17]. Financial and Operational Insights - The average investment cost for a new Shack in fiscal 2022 was approximately $2.7 million, with costs ranging from $1.3 million to $4.1 million[110]. - Shake Shack plans to source 100% cage-free eggs for its global supply chain by 2025, already achieving this for the U.S. and U.K. supply chains[116]. - The company is focused on improving overall Shack margins back to pre-pandemic levels, emphasizing the need for full staffing and optimized throughput[115]. - Shake Shack has registered 23 trademarks domestically and core marks in 81 countries as of December 28, 2022, to protect its intellectual property[130]. - The company is subject to extensive regulations related to food safety, nutritional content, and employment, with compliance costs expected to rise in the future[132]. Risks and Challenges - Seasonal fluctuations impact sales, with year-over-year results affected by the timing of new Shack openings and potential changes in consumer behavior due to the COVID-19 pandemic[134]. - The company is exposed to commodity price risks, with significant increases in ingredient prices potentially impacting operating results if not offset by menu price increases[428]. - Foreign exchange risk affects international sales and licensing revenue, with a hypothetical 10% currency fluctuation potentially impacting operating income by approximately $2.5 million in 2022[429]. - Interest rate risk is present due to fluctuations on debt obligations, although the company had no outstanding borrowings under its Revolving Credit Facility as of December 28, 2022[430]. - Inflation impacts various operational costs, and simultaneous cost increases may hinder the company's ability to adjust prices without affecting consumer demand[431].

Shake Shack Inc. (NYSE:SHAK) Q4 2022 Earnings Conference Call February 16, 2023 8:00 AM ET Company Participants Annalee Leggett - Senior Manager of Investor Relations & FP&A Randy Garutti - Chief Executive Officer Katie Fogertey - Chief Financial Officer Conference Call Participants Lauren Silberman - Credit Suisse Mike Tamas - Oppenheimer & Co. Sharon Zackfia - William Blair Jake Bartlett - Truist Securities Peter Saleh - BTIG Andrew Charles - Cowen & Company David Tarantino - Baird Jim Sanderson - Northco ...

SHAKE 👍🏻 SHACK * I C R C O N F E R E N C E J A N U A R Y 1 0 , 2 0 2 3 f CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"), which are subject to known and unknown risks, uncertainties and other important factors that may cause actual results to be materially different from the statements made herein. All statements other than statements of historical fact included in this p ...

Shake Shack Inc. (NYSE:SHAK) Q3 2022 Earnings Conference Call November 3, 2022 8:00 AM ET Company Participants Annalee Leggett - Senior Manager-Investor Relations & FP&A Randy Garutti - Chief Executive Officer Katie Fogertey - Chief Financial Officer Conference Call Participants Nicole Miller - Piper Sandler Michael Tamas - Oppenheimer Sharon Zackfia - William Blair Jake Bartlett - Truist Securities Jeff Farmer - Gordon Haskett Andy Barish - Jefferies Chris O'Cull - Stifel Brian Vaccaro - Raymond James Jeff ...

Shake Shack Inc. (NYSE:SHAK) Q2 2022 Earnings Conference Call August 4, 2022 8:00 AM ET Company Participants Annalee Leggett - Senior Manager of Investor Relations & FP&A Randy Garutti - Chief Executive Officer Katie Fogertey - Chief Financial Officer Conference Call Participants Michael Tamas - Oppenheimer Nicole Miller - Piper Sandler Jared Garber - Goldman Sachs Jake Bartlett - Truist Securities Jeff Farmer - Gordon Haskett Brian Vaccaro - Raymond James Andy Barish - Jefferies Chris O'Cull - Stifel Drew ...

Shake Shack Inc. (NYSE:SHAK) Q1 2022 Earnings Conference Call May 5, 2022 5:00 PM ET Company Participants Annalee Leggett - Senior Manager, Investor Relations & FP&A Randy Garutti - Chief Executive Officer Katie Fogertey - Chief Financial Officer Conference Call Participants Michael Tamas - Oppenheimer Nicole Miller - Piper Sandler Jake Bartlett - Truist Securities Brian Mullan - Deutsche Bank Lauren Silverman - Credit Suisse Drew North - Robert W. Baird Andrew Charles - Cowen Jared Hludzinski - JPMorgan Op ...