The better-burger champs at Shake Shack have apparently been too busy killing it lately to notice the whole industry’s careening toward a bleak recession. The chain released quarterly earnings yesterday, and while most of the competition is reeling right now — sales have recently disappointed investors at McDonald’s, Wendy’s, and Burger King — the Shack posted an impressive $3.8 million net income for the period, a 153 percent profit gain over last year’s $1.5 million.
Revenue, meanwhile, increased 40 percent, from $53 million in 2015 to almost $75 million this time. CEO Randy Garutti called it a testament to “the continued strength and opportunity of our brand.” The chipper financial news caused the chain to raise its outlook, too, and that means more ShackBurgers are in the cards: The company now expects to open 19 new domestic Shacks this year, plus 2 to 3 more internationally, on top of the 105 locations it currently operates. Also reportedly in the works are another burger and chicken sandwich for early 2017 (both barbecue, with a topping of crispy shallots), plus grab-and-go breakfast items at the upcoming Penn Station transit location.
