Shake Shack(US:SHAK)2021-08-06 16:46Financial Performance - Shack-level operating profit was $34.8 million, representing 19.2% of Shack sales in Q2 2021[7] - Adjusted EBITDA was $20.6 million, which is 11.0% of total revenue in Q2 2021[7] - Cash flow from operations increased to $56 million in Q2 2021 (TTM)[9] Sales and Operations - Average weekly sales (AWS) improved to $72,000 in Q2 2021, driven by the return of in-Shack sales, with digital sales retention remaining high at approximately 80%[8] - Fiscal July 2021 AWS reached $74,000, up from $64,000 in Q1 2021[12] - Same-Shack sales (SSS) increased by 38% in fiscal July 2021 compared to 2020[12] - Urban SSS versus 2019 improved to (18%) in fiscal July 2021, up from (27%) in fiscal April 2021[12] - The company retained approximately 80% of digital sales as in-Shack sales recovered[39] Expansion and Development - The company is investing an additional $10 million in the Shack team over the next 12 months[8, 13] - The company opened 19 company-operated Shacks YTD as of fiscal July 2021 and is targeting 35-38 total openings in 2021, including the first Shack drive-thru[8] - Class of 2021 openings achieved an AWS of $81,000, approximately 20% higher than the rest of the company-operated Shacks[8, 12, 43] - The company is targeting 10 drive-thru openings through 2022[47] Guidance - The company expects total revenue of $194 million to $200 million for 2021[55] - The company expects Shack sales of $188 million to $193 million for 2021[55] - The company expects licensed revenue of $6 million to $7 million for 2021[55]