“We expect to grow our system-wide Shack count by approximately 70 to 75 units this year, about 40 of which will be domestic comp company operated, and 30 to 35 operated by our licensed partners.”

In context

“e end of the second quarter. Covid has had a larger impact on our business than many of our competitors, and its lingering impacts on consumer mobility patterns, including work from home trends, has been a challenge for us. However, even with the pressures we face and persistent inflation, we guide second quarter Shack-level operating profit margins to reach approximately 20%, marking the highest level of quarterly profitability that we have delivered since the onset of Covid. And with more consistent trends we're seeing in our business, we're able to finally re reintroduce full year guidance for many metrics. For the full year 2023, we guide total revenue of $1.06 billion to $1.11 billion, representing 18% to 23% year-over-year growth with licensing revenue of $39 million to $41 million. We expect to grow our system-wide Shack count by approximately 70 to 75 units this year, about 40 of which will be domestic comp company operated, and 30 to 35 operated by our licensed partners. Our guide is for same-Shack sales to grow by low to mid single digits with mid-to-high single digits price and consistent trends in our mix. Despite ongoing inflationary headwinds, we expect to deliver at least 150 to 250 basis points of restaurant margin expansion in 2023 and guide for a full year Shack-level operating profit margins to reach 19 to 20%. As we continue to execute on our strategic priorities, while we are focused on exceeding the spar, inflationary pressures are not debating in this guidance. We're reflecting a degree of impact from potential consumer softness as well as beef inflationary pressures above and beyond what we're experiencing today. But all else equal. If both of these risks did not materialize, we see a path for our restaurant margin to surpass 20% this year.”