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Why Shake Shack's strategy with the suburbs has mixed resultsWhy Shake Shack's strategy with the suburbs has mixed results

Holly Petre, Assistant Digital Editor

August 4, 2023

 

It was a good quarter for Shake Shack, with record sales of $426.3 million, up by 21.2% compared to the second quarter of 2022. Same-store sales were up by 3%, with restaurant-level margins of 21.2%, the first time margins were above 20% since 2019.

Net income turned positive to $7.2 million, or 16 cents per share.

In the previous quarter it reported a net loss of $1.5 million, or 4 cents per share.

Much of the success was due to the implementation of operational efficiencies and the continued rollout of kiosks in restaurants, which generate higher average checks and require less labor.

About the Author

Holly Petre

Assistant Digital Editor

Holly Petre is a digital editor for Nation’s Restaurant News as well as the host of NRN’s podcast, Extra Serving, and producer for Informa Restaurant and Food Group’s other three podcasts, One On One by Food Management, Off the Shelf with SN and In the Kitchen with Bret Thorn. Holly holds a Bachelor of Fine Arts with a concentration in Sculpture, fibers and Material Studies and Ceramics from the School of the Art Institute of Chicago. A native New Yorker, Holly enjoys her place on staff as the resident pop-culture expert and millennial with a sassy attitude and great sense of style.

Holly Petre’s work on Nation’s Restaurant News and Restaurant Hospitality often covers marketing and trends, either aimed-at or examined-through the millennial mindset. Holly is responsible for introducing TikTok and Twitch to NRN and RH readers as well as explaining terms like “Karen” to staff and readers alike. She also spends her time on staff trying not to make every headline a pun.

Holly Petre hasn’t spoken at any events or on panels, but she is readily available with a killer shoe wardrobe and several witty quips.

 

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