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NEW YORK - Shake Shack Inc. (NYSE:SHAK) announced Monday the appointment of Jamie Griffin as Chief People Officer, effective immediately. Griffin will report directly to CEO Rob Lynch as the fast-casual restaurant chain continues its expansion plans. The appointment comes as the company, currently valued at nearly $6 billion, shows strong momentum with a 65% stock return over the past year.
In his new role, Griffin will oversee team member experience, talent acquisition, organizational design, leadership development, total rewards, and related human resources functions. He will also guide the company’s people-first approach as Shake Shack works toward its goal of operating 1,500 locations. With revenue of $1.28 billion in the last twelve months and projected 15% growth for the coming year, the company appears well-positioned for this ambitious expansion. InvestingPro analysis reveals 17+ additional insights about Shake Shack’s growth trajectory and financial health.
Griffin brings more than two decades of hospitality industry experience to the position. He previously served as Senior Vice President at Raising Cane’s Chicken Fingers and founded strategic advisory firm Consult to Grow. He holds a Bachelor of Science from Louisiana State University, an MBA from Tulane, and is a Senior Certified Professional with the Society for Human Resources.
"I’m honored to join Shake Shack at such a meaningful moment in its journey," Griffin said in a press release statement.
Shake Shack currently operates more than 610 locations globally, including over 390 across 34 U.S. states and more than 215 international locations in cities including London, Hong Kong, Shanghai, Singapore, Mexico City, and Tokyo.
The company, known for its Angus beef burgers and hand-spun milkshakes, was founded in 2004 in New York City’s Madison Square Park.
In other recent news, Shake Shack has been the focus of several notable analyst updates and company developments. Truist Securities has raised its price target for Shake Shack to $160, citing an optimistic outlook on sales growth. They expect the company to exceed consensus estimates for second-quarter same-store sales and offer strong guidance for the third quarter. Meanwhile, Loop Capital downgraded Shake Shack from Buy to Hold, maintaining a price target of $127, as the stock has surpassed their valuation expectations. BTIG also downgraded the stock to Neutral due to concerns about guest frequency, though they acknowledge potential for margin expansion and ongoing strategic initiatives.
Truist Securities had previously increased their price target to $150, noting that despite a slight miss in new store openings, the company remains on track with its expansion plans. KeyBanc Capital Markets initiated coverage with a Sector Weight rating, recognizing Shake Shack’s growth potential but advising caution due to challenges in traffic growth amid rapid expansion. These recent developments highlight varying analyst perspectives on Shake Shack’s performance and future prospects, with some expressing caution while others remain optimistic about the company’s growth trajectory.
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