“we expect approximately 35 new licensed Shack openings this year.”

In context

“d expand our business across the globe. In fiscal April, we opened our first Shack in Thailand and in fiscal July, we opened our first Resort Shack with a bar in the Bahamas in the Atlantis Resort. Our strong performance in the second quarter was primarily driven by outperformance in our licensed business domestically, which is one of our largest markets. Our airports and [indiscernible] Shacks in New Jersey and upstate New York are thriving and capitalizing on busy summer travel patterns. We have a long runway ahead for our domestic licensed business, with 36 licensed Shacks across the U.S., including 18 airports, 11 stadiums, six Shacks in roadway, travel plazas and one museum. And based on the strength of this business and the continued optimism shared by our partners around the globe, we expect approximately 35 new licensed Shack openings this year. Our fourth priority is being even more profitable in our Shacks. Second quarter restaurant margin expanded 240 basis points year-over-year to 21%, marking the first quarter since 2019, where a restaurant margin grew back above 20%. It's a testament to our continued progress on our key initiatives as we achieved 21% despite high single-digit food and paper inflation in the quarter. Finally, the fifth pillar of our plan as we build an enduring business, we are committed to investing with discipline. We're deploying capital towards strong returns in four main areas. We're building Shacks, updating our current Shacks, investing in our digital infrastructure and structuring our home office capabilities to support our restaurants. Starting with development, we're excited about all the work the”