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NEW YORK - Shake Shack Inc. (NYSE: SHAK), the $4.8 billion fast-casual restaurant chain that has seen its stock surge over 14% in the past week, has announced a partnership with Grupo Attie-Multifood Enterprises to launch its brand in Panama with plans to open 12 locations by 2035. The first Shake Shack is expected to open in 2026, marking the company’s entry into Central America. According to InvestingPro analysis, the company currently trades above its Fair Value, reflecting investor optimism about its expansion plans.
The New York-based fast-casual restaurant chain, known for its Angus beef burgers and milkshakes, is aligning with Grupo Attie-Multifood Enterprises, a prominent Panamanian conglomerate with a strong presence in various sectors, including over 200 stores in Latin America. This partnership signifies a significant step in Shake Shack’s global expansion strategy, building on its impressive 14% revenue growth over the last twelve months. InvestingPro data shows the company maintains a strong financial health score, with liquid assets exceeding short-term obligations.
Michael Kark, President of Global Licensing at Shake Shack, expressed excitement about entering the Central American market, highlighting Panama’s rich culture and culinary diversity. Grupo Attie-Multifood Enterprises’ expertise in the Panamanian market is seen as an asset in achieving the goal of establishing 12 Shacks in the country.
The collaboration is set to generate approximately 400 jobs, contributing to local economic growth and employment opportunities. Hector Ospina, CEO of Multifood Enterprises, emphasized the shared commitment to quality and hospitality that both companies uphold, as well as the positive impact on Panama’s culinary landscape and community.
Shake Shack aims to work with local suppliers to integrate Panamanian flavors and ingredients into its menu, while maintaining its signature offerings like the ShackBurger®, crinkle-cut fries, and frozen custard.
Since its inception in 2004 in New York City’s Madison Square Park, Shake Shack has grown to over 590 locations worldwide. The company prides itself on quality ingredients, employee development, and community engagement. The Shack App, available for iOS and Android, allows customers to order ahead and pick up their meals at a scheduled time. With 12 analysts recently revising earnings estimates upward, the company’s growth trajectory appears promising. For deeper insights into Shake Shack’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.
This move into Panama is based on a press release statement from Shake Shack Inc. and represents the company’s ongoing efforts to expand its international presence.
In other recent news, Shake Shack reported its first-quarter earnings for 2025, revealing an earnings per share (EPS) of 10 cents, which fell short of the projected 17 cents. The company’s revenue reached $320.9 million, slightly below the anticipated $330.3 million, marking a 10.5% increase year-over-year. Despite the earnings miss, Shake Shack has updated its full-year margin outlook, aiming for a 22.5% return on margin, representing a 120 basis point increase from the previous year. Raymond James analyst Brian Vaccaro adjusted the price target for Shake Shack stock to $140 from $145, maintaining a Strong Buy rating, citing improvements in operations and accountability that have led to margin growth. Stifel analysts reiterated a Hold rating with a price target of $97, noting challenges such as adverse weather conditions and a general slowdown in the industry. Shake Shack is optimistic about new menu items and marketing strategies contributing to better sales moving forward. The company plans to open 45-50 new locations in 2025, with an emphasis on culinary innovation and operational efficiency.
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