Companies · SHAK
Shake Shack
AI-generated · informational only · not investment advice · verify before relying.
Latest analysis
Updated Aug 5, 2026
Shake Shack Q2 2026: Same-store sales +3.5%, but operating margin compressed as labor and food costs rise.
Shake Shack's Q2 2026 revenue grew 17.2% to $417.6 million, driven primarily by unit growth (16 new company-operated and 11 new licensed locations), but same-Shack sales advanced only 3.5%, signaling sluggish comparable-store performance. Restaurant-level profit margin compressed 90 basis points to 23.0% from 23.9% year-over-year, as labor costs (25.1% of Shack sales vs. 25.7% prior year) and food-and-paper costs (28.8% vs. 28.2%) created offsetting headwinds. Operating income declined 7.3% to $20.7 million despite top-line growth, and adjusted EBITDA margin fell 180 basis points to 12.5% on a 26-week basis, revealing margin compression as the real earnings story beneath the revenue headline.
Tone: cautiousRevenue
$1.4B
SHAK 10-K · FY 2025
Employees
13,873
Revenue FY2024
$1.3B
EBITDA margin
12.5%
Profile
SHAK 10-K Item 1 · Feb 26, 2026Shake Shack is a fine-casual restaurant company that serves premium, made-to-order American classics — including Angus beef burgers, crispy chicken, hand-spun milkshakes, and alcoholic beverages — across Company-operated and licensed Shacks worldwide. Founded in 2004 from a New York City hot dog cart, the brand has grown to 659 system-wide locations across 20+ countries. Its model combines a fine-dining cultural heritage with the operational scale of a fast-casual chain.
Read filing description ↓ Collapse description ↑
Shake Shack serves modern, fun and elevated versions of American classics using only premium ingredients. We are known for our made-to-order Angus beef burgers, crispy chicken, hand-spun milkshakes, house-made lemonades, beer, wine, and more. With our fine-dining roots and a commitment to crafting uplifting experiences, Shake Shack has become a cult brand. Our purpose is to Stand For Something Good, from premium ingredients and employee development to inspiring designs and community investment. Originally founded in 2001 by Danny Meyer's Union Square Hospitality Group, Shake Shack began as a hot dog cart in Madison Square Park and officially opened as a kiosk in 2004. Since the original Shack opened, the Company has expanded to 659 Shacks system-wide, of which 373 were Company-operated Shacks and 286 were licensed Shacks, including Shacks across London, Hong Kong, Shanghai, Singapore, Mexico City, Istanbul, Dubai, Tokyo, Seoul and more. The Company operates on a 52/53 week fiscal year and has created what it calls a new category: fine-casual. Growth strategy centers on unit expansion toward an approximately 1,500 Company-operated Shack target, same-Shack sales growth, digital channel development, and culinary innovation through a structured LTO program. The Company's licensed business generates royalty and territory fee revenue and extends brand visibility globally through experienced operator partners.
Primary products
- Angus beef burgers
- crispy chicken
- hot dogs
- crinkle cut fries
- hand-spun milkshakes
- frozen custard
Business segments
End markets
Geographies
Named customers
“We see ourselves as well-positioned to continue our market growth, as we believe consumers will keep seeking higher quality offerings, especially given an increasing consumer focus on responsible sourcing, ingredients and preparation.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenue grew from approximately $1.25 billion in fiscal 2024 to approximately $1.45 billion in fiscal 2025, driven primarily by 45 new Company-operated Shack openings and a 53rd operating week, partially offset by a decline in guest traffic.
The rest of SHAK is for subscribers
Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.