Those frozen custards and ShackSauce are harder to find as Shake Shack shuts some L.A. spots
Briefly

from Los Angeles Times5 months ago
Shake Shack is closing nine underperforming locations, including five in Los Angeles. These closures come amidst a trend of declining consumer spending influenced by inflation.
Los Angeles Timeshttps://www.latimes.com/business/story/2024-09-04/those-frozen-custards-and-shacksauce-are-getting-harder-to-find-as-shake-shack-closes-some-los-angeles-spots
Some of the closing spots 'are negatively impacting other Shacks within their proximity by cannibalizing sales,' according to the company's SEC filing.
Los Angeles Timeshttps://www.latimes.com/business/story/2024-09-04/those-frozen-custards-and-shacksauce-are-getting-harder-to-find-as-shake-shack-closes-some-los-angeles-spots
Despite the closures, Shake Shack's financial performance remains strong, with a reported revenue of $316.5 million for Q2 2024, marking a 16.4% increase from the previous year.
Los Angeles Timeshttps://www.latimes.com/business/story/2024-09-04/those-frozen-custards-and-shacksauce-are-getting-harder-to-find-as-shake-shack-closes-some-los-angeles-spots
Chief Executive Rob Lynch stated, 'Shake Shack is in a period of considerable growth with a plan to open 40 new company-owned Shacks and 40 more licensed Shacks this year.'
Los Angeles Timeshttps://www.latimes.com/business/story/2024-09-04/those-frozen-custards-and-shacksauce-are-getting-harder-to-find-as-shake-shack-closes-some-los-angeles-spots
Read at Los Angeles Times
#shake-shack #restaurant-closures #fast-food #inflation-impact #business-growth
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