Shake Shack May Be Opening New Locations Here
Shake Shack is a relative newcomer among fast-food burger joints, having started out in 2001 as a hot dog cart located in Madison Square Park in New York City. Three years later, Shake Shack's success helped it move into a larger storefront and expand its menu offerings. Within ten years, new locations were opening up well outside the Manhattan marketplace. By 2015, the burger chain went public, according to Fortune.
These days, there are more than a dozen Shake Shacks in Lower Manhattan alone, as well as spots in 31 states across the U.S., and 100 international locations spanning three continents, according to the company's site. Now, The Independent reports that the burger chain's chief executive, Randy Garutti, hinted that he has his eyes set on expanding to Dublin, Ireland next. (Related: McDonald's Is Making These 8 Major Upgrades.)
"I love that market," he reportedly said in a presentation at Morgan Stanley's Virtual Global Consumer event last week. "There could be a few Shacks in Dublin. We'll see, we'll see."
Equally impressive as the physical expansion of Shake Shake is the financial growth of the company. In the 2019 fiscal year, Shake Shack earned nearly $600,000, and year-over-year revenue increased by nearly 30%, according to the company. For reference, in the fiscal year ending in March of 2020, White Castle, a company 80 years the senior of Shake Shack, earned some $477,5000, reports dnb.com—thus highlighting the amazing, rapid growth and success of the New York-based burger chain.