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Tech Tracker: How digital tech is capitalizing on the hot restaurant reservations market
Tock and Google now offer experience reservations; Diibs launches as a platform for bidding on last-minute reservations
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.