Shake Shack
Shake Shack have announced that same-store sales rose by 4.4% year-on-year. This news led to their share price to rise by 26%.
Shake Shack’s fourth quarter had a 2.8% same-store sales increase, driven by a 15% jump in traffic for the brand in October. Total revenue for Q4 rose to $286.2m, up 20.0% vs 2022.
In 2023, Shake Shack opened 85 restaurants – 15 of which were US based stores in Q4. The brand started 2024 with 518 sites worldwide. We shared news of some of these new stores – e.g. store openings in Texas.
Caffè Nero
Caffè Nero have shared their H1 results, with a 17% sales growth the main highlight.
The cafe and coffee shop had a 10% increase in life-for-like sales vs the same period in 2022. The brand highlighted that a key period in their calendar is Christmas – a 7% increase year on year in this period was driven by debuting new products.
At the end of January, the brand announced that they will open a drive-thru store. The store, located at London Stansted Airport, will be their first drive-thru store ever (in all geographic regions).
In February 2022, Caffe Nero bought the remaining 33% of Coffe#1 – following the initial 67% purchase of the brand in 2019 from Welsh Brewery owner SA Brain.
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