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EX - 99.1 2 shak - 20211104_exhibit991.htm EX - 99.1 SHAKE SHACK Exhibit 99.1 Shake Shack Announces Third Quarter 2021 Financial Results • Total Revenue grew 48.7 % year - over - year to $ 193.9 million , and system - wide sales grew 53.1 % to nearly $ 299 million . . Third quarter Same - Shack Sales were up 24.8 % versus 2020 . . . Momentum versus 2019 continued into fiscal October with overall Same - Shack Sales down 1 % and suburban Same - Shack Sales up 7 % . All regions outside of NYC surpassed 2019 levels . Retained nearly 80 % of digital sales in fiscal September from high in fiscal January 2021. Acquired 14 % more first time purchasers through Company - owned digital channels versus the prior quarter . NEW YORK , NY ( Business Wire ) — November 4 , 2021 - Shake Shack Inc. ( " Shake Shack " or the " Company " ) ( NYSE : SHAK ) today reported its financial results for the third quarter ended September 29 , 2021 , a period that included 13 weeks . Randy Garutti , Chief Executive Officer of Shake Shack , stated , " We are pleased with the positive sales performance seen during the third quarter . This quarter marks our highest revenue quarter ever , with total revenues of $ 193.9 million and system - wide sales of $ 298.6 million . We saw benefits to our urban Shacks as more of our guests returned to offices , events , commuting and tourism - based locations . Our suburban Shacks continue to recover and , on average , perform above 2019 levels . As of fiscal September , we had retained nearly 80 % of our digital channel sales , compared to fiscal January 2021 , even as in - Shack sales return . Sales strength aside , we are not immune to the margin pressures that are still being felt across our industry . Inflation in commodity prices and investments across team members are pressuring our margins . We remain committed to investing in our team members to ensure we are retaining and developing the best talent in our industry , and these pressures are likely to persist for the foreseeable future . Our team is working harder than ever to take care of each other , bring hospitality to our neighborhoods , transform our Shack formats , invest in critical digital infrastructure , and uplift everyone in the Shack community along the way . " Financial Highlights for the Third Quarter of 2021 : ■ Total revenue in the third quarter of 2021 increased 48.7 % to $ 193.9 million versus the same period last year . ■ ■ Shack sales in the third quarter of 2021 increased 48.1 % to $ 187.0 million versus the same period last year . Same - Shack sales ( 1 ) improved to up 24.8 % in the third quarter of 2021 versus the same period last year . Licensed revenue in the third quarter of 2021 increased 68.3 % to $ 6.9 million versus the same period last year . ■ Shack system - wide sales in the third quarter of 2021 increased 53.1 % to $ 298.6 million versus the same period last year . ■ Operating loss in the third quarter of 2021 was $ 2.6 million compared to an Operating loss of $ 6.8 million in the same period last year . ■ ■ ■ Shack - level operating profit ( 2 ) increased 58.6 % in the third quarter of 2021 versus the same period last year , to $ 29.6 million , or 15.8 % of Shack sales . Net loss was $ 2.4 million and adjusted EBITDA ( 2 ) was $ 15.8 million in the third quarter of 2021 , compared to a Net loss of $ 6.1 million and adjusted EBITDA of $ 8.2 million in the same period last year . Net loss attributable to Shake Shack Inc. was $ 2.2 million and adjusted pro forma net loss ( 2 ) was $ 2.0 million , or a loss of $ 0.05 per fully exchanged and diluted share in the third quarter of 2021 , compared to Net loss attributable to Shake Shack Inc. of $ 5.6 million and adjusted pro forma net loss of $ 4.4 million , or a loss of $ 0.11 per fully exchanged and diluted share , in the same period last year . Net system - wide Shack openings , comprised of five net domestic Company - operated Shacks and six net licensed Shacks . Cash and cash equivalents and marketable securities on hand was $ 401.5 million as of September 29 , 2021 .