Shake Shack Inc. saw same-store sales rise 11 percent in the fourth quarter ended Dec. 30, the company said Monday.
The increase helped the chain turn a profit in the quarter. Net income increased to $1.2 million, or 8 cents per share, rising from a loss of $1.4 million, or 5 cents per share, in the same period a year ago.
“We are very proud of what we have been able to accomplish in our first year as a public company,” Shake Shack CEO Randy Garutti said in a statement. “2015 marked a record year for Shake Shack in nearly all metrics, and we will continue to execute our stated growth strategy and connect with guests the world over.”
The company operated three domestic locations in the period, and 13 units total for the year, to go with eight locations in international markets. The company plans to enter several new markets this year, including Los Angeles, Arizona and Minneapolis.
Revenue in the fourth quarter increased 46.8 percent, to $51.1 million, from $34.8 million a year ago.
Average weekly sales at the chain’s U.S. locations were $89,000 in the fourth quarter.
Operating profit increased 88.1 percent, to $13.9 million in the quarter, from $7.4 million. As a percentage of sales, operating profit increased 590 basis points.
The company said that food costs were lower than anticipated — food and paper costs were 29.3 percent of sales, a decrease from 32.3 percent in the same period a year ago.
Likewise, the company’s sales increase enabled it to operate more efficiently. Labor was 25 percent of sales, falling from 26.3 percent a year ago.
Same-store sales for the year increased 13.3 percent.
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