CLAIM #408 · Shake Shack Inc (SHAK) · 2023Q1 earnings call · May 4, 2023 · due Dec 31, 2023
“We'll see with a consumer softening, who knows where that will go, but we expect those trends to continue.”
Randy Garutti · CEO
In context
“rutti: Thanks, Jake. And this is why it's the number one part of our strategic plan because, when we see what we reported here, which is a lower turnover, higher retention, and a lot more people applying for jobs at Shake Shack in the first kind of year to date here, that's just a huge win in every way. Turnover is expensive. It is hard to train people and mostly because you're just not up to the reps. You're just not up to the speed throughput. That's where the most gains are going to come from. And I think that's was a part of the strength of q1. It's also a part of our confidence in the -- our profit guide for this year. It's a huge part of how we think we can get there now. We need to see that trend continue. Obviously this last few years has been incredibly challenging on that front. We'll see with a consumer softening, who knows where that will go, but we expect those trends to continue. It's also the work that our team has done to make that better. So I think you see it on the kind of hidden costs of all throughout the P&L especially just on the opportunity to optimize throughput on ours. we, we've been able to, it's not like we all of a sudden magically just increased hours across all the Shacks. This is really just recapturing some of the hours that we had had given up when staffing challenges were more challenging over this last couple years. So we're starting to be able to get some of those back in the first quarter. There's a little bit more probably to go on that depending on the Shacks and generally seasonally our stronger quarters are the second and third quarter. We generally, we can look at some of that expansion of ours. But, taking care of our team, having th”
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SEC filings for SHAK ↗ · Claim quote is verbatim from the 2023Q1 earnings call.