January 16th 2025.
A customer is enjoying a delicious burger at a Shake Shack restaurant, a popular fast food chain that is often compared to the giant, McDonald's. In an exciting announcement, Shake Shack revealed its plans to expand its reach by a staggering 356%. This means that from its current number of 329 locations, the company aims to have a minimum of 1,500 restaurants in the long term. According to Fox Business, the existing restaurants have already shown significant growth in profitability and returns, but Shake Shack believes that there is still room for even more growth.
The company's humble beginnings, two decades ago, had a long-term goal of 450 restaurants. However, with this new expansion plan, that number has more than doubled. Shake Shack is now setting its sights on 20 priority markets and plans to continue growing in its existing regions. CFO Katie Fogertey is confident in the company's potential, stating that their projected revenue for fiscal year 2025 is between $1.45 to $1.48 billion, and they are expecting a low-teens percentage increase in revenue over the next three years.
Headquartered in New York City, Shake Shack has also seen success internationally, with over 200 locations outside of the US. This expansion comes at a time when many fast food chains are downsizing. Just last week, McDonald's announced the closure of three out of its six beverage-focused stores, CosMc's, in Texas.
Shake Shack's growth is a testament to its popularity and success in the fast food industry. With its ambitious plans and promising outlook, it is clear that the company is only just getting started. The future looks bright for Shake Shack, and customers can expect to see even more delicious burgers being served in the years to come.
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