Shake Shack Inc at Barclays Eat, Sleep, Play Conference Transcript
Good morning, everyone. Thank you for joining us. My name is Jeff Bernstein. I'm the restaurant and foodservice distribution analyst here at Barclays. I'm thrilled to introduce our next presenting company, Shake Shack. With us this morning from their New York City headquarters, we have Randy Garutti, CEO; Katie Fogertey, CFO; and a strong team behind them sitting in the audience.
By way of background, for those not familiar, if that's possible. Shake Shack is a fast-casual chain with 230 or so company-operated restaurants in the U.S. while licensing an additional 30-plus inside and 140-plus outside the U.S. Management remains super confident in the long-term outsized annual unit growth.
With that said, some of it appears with the pressures across the industry from a sales margin and returns perspective, management prudently tempered near-term unit growth, still a 15% plus growth rate, which is topped in the industry. And again, still confident in their long-term algorithm for
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