The chain plans to open 32 to 35 new domestic company-operated restaurants in 2018, along with 16 to 18 licensed units. The aggressive growth will continue into 2020.
“[By 2020], we intend to have more than doubled our current Shack base to at least 200 domestic company-operated Shacks and at least 120 global license Shacks,” CEO Randall Garutti said in an earnings call yesterday. “We want to nearly double our total revenue to over $700 million.”
Same-store sales increased by 0.8% year over year last quarter, which ended on Dec. 27.
Shake Shack anticipates the average annual sales volume for total domestic units to be between $4.1 million and $4.2 million for 2018. Shake Shack shares were down 6% on Friday morning. Investors were likely unhappy with the chain’s expectation of flat same-store sales for 2018, a result of a menu price increase of 1.5% to 2% in December.