Shake Shack reported Q3 earning jumping 18% since 2021 and 8% in Q3 alone with strong sales since Labor Day. The CEO, Randy Grutti attributes this growth as strong performance in Urban markets and people going back to offices and simply being out and about more post pandemic. Shake Shack has 260 locations throughout the United States with 35 currently under construction and 1/3 of those new locations will soon feature drive-thru’s. The company is focusing its efforts on growth in suburban markets which is newer territory for the chain. The growth was stumped a bit with construction delays and permitting delays, but it is coming back up to pace as the market gets back up to speed.
Grutti anticipates the next big challenge will be staffing for these stores. The company is focusing heavily on employee retention and growth programs for its staff. They have invested $10 million into growth and retainment programs including higher wages, enhanced benefits and advancement opportunities with their “Shift Up” training program. They will also help ease some of the staffing issues by incorporating automated kiosks for customers to place their own orders. It will be exciting to see where the next Shake Shacks may be popping up within the Tampa Bay area.