Shake Shack 8-K: Exit Costs & Impairments Reported
Ticker: SHAK · Form: 8-K · Filed: Aug 27, 2024 · CIK: 1620533
| Field | Detail |
|---|---|
| Company | Shake Shack Inc. (SHAK) |
| Form Type | 8-K |
| Filed Date | Aug 27, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $28.0, $30.0 million, $14.0, $15.2 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: restructuring, impairment, disclosure
Related Tickers: SHAK
TL;DR
Shake Shack's taking a hit on exit costs and impairments. Watch this space.
AI Summary
Shake Shack Inc. filed an 8-K on August 27, 2024, to report on cost associated with exit or disposal activities and material impairments. The filing also includes a Regulation FD Disclosure, indicating potential impacts on the company's financial performance or strategic direction.
Why It Matters
This filing signals potential financial restructuring or asset write-downs, which could impact future profitability and investor outlook.
Risk Assessment
Risk Level: medium — The filing indicates costs associated with exit or disposal activities and material impairments, which can signal financial challenges or strategic shifts.
Key Players & Entities
- Shake Shack Inc. (company) — Registrant
- 225 Varick Street, Suite 301 (location) — Principal executive offices address
- New York, New York 10014 (location) — Principal executive offices city, state, zip
- August 27, 2024 (date) — Date of Report
FAQ
What specific activities are associated with the reported exit or disposal costs?
The filing does not specify the exact nature of the exit or disposal activities, but it is reported under Item 2.05.
What assets are subject to the material impairments mentioned in the filing?
The filing does not detail which specific assets are impaired, but this information is covered under Item 2.06.
What is the purpose of the Regulation FD Disclosure?
The Regulation FD Disclosure (Item 7.01) is included to ensure that any material non-public information is broadly disseminated to the public.
When was this Form 8-K filed?
This Form 8-K was filed on August 27, 2024.
What is Shake Shack Inc.'s principal executive office address?
Shake Shack Inc.'s principal executive office is located at 225 Varick Street, Suite 301, New York, New York 10014.
Filing Stats: 955 words · 4 min read · ~3 pages · Grade level 10.7 · Accepted 2024-08-27 16:16:22
Key Financial Figures
- $0.001 — tered Class A Common Stock, par value $0.001 SHAK New York Stock Exchange Indica
- $28.0 — tax charges in a range of approximately $28.0 to $30.0 million during the third quart
- $30.0 million — es in a range of approximately $28.0 to $30.0 million during the third quarter ending Septemb
- $14.0 — ected to be in a range of approximately $14.0 to $15.2 million. Included in these cas
- $15.2 million — be in a range of approximately $14.0 to $15.2 million. Included in these cash costs are preta
- $12.8 — currently expected to be in a range of $12.8 to $13.6 million related to lease termi
- $13.6 million — y expected to be in a range of $12.8 to $13.6 million related to lease termination costs and
- $1.0 — ected to be in a range of approximately $1.0 to $1.2 million; and other cash costs c
- $1.2 million — be in a range of approximately $1.0 to $1.2 million; and other cash costs currently expecte
- $0.2 — ected to be in a range of approximately $0.2 to $0.4 million, which will primarily c
- $0.4 m — be in a range of approximately $0.2 to $0.4 million, which will primarily consist of
- $14.8 million — be in a range of approximately $14.0 to $14.8 million and primarily consist of asset impairme
Filing Documents
- tm2422794d1_8k.htm (8-K) — 33KB
- image_001.jpg (GRAPHIC) — 5KB
- 0001104659-24-093435.txt ( ) — 216KB
- shak-20240827.xsd (EX-101.SCH) — 3KB
- shak-20240827_lab.xml (EX-101.LAB) — 33KB
- shak-20240827_pre.xml (EX-101.PRE) — 22KB
- tm2422794d1_8k_htm.xml (XML) — 4KB
06 Material Impairments
Item 2.06 Material Impairments. The information set forth in Item 2.05 is incorporated by reference into this Item 2.06.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. The Company's overall growth and strategic priorities have not changed as a result of the announced Shack closures, including our previously disclosed expectations for Shack openings in FY 2024 and beyond. The Company is reaffirming its fiscal third quarter 2024 and full-year 2024 guidance as set forth in the Shareholder Letter dated August 1, 2024 furnished to the Securities and Exchange Commission as Exhibit 99.2 to the Current Report on Form 8-K on August 1, 2024.
Forward Looking Statements
Forward Looking Statements This Current Report on Form 8-K contains "forward-looking closure plan described in this report. Forward-looking statements include predictions of future results or activities and may contain the words "expect," "believe," "will," "can," "anticipate," "project," "should," or words or phrases of similar meaning. The Company's actual results or activities may differ materially from these predictions. The Company's future results could be affected by a variety of factors and other risks and uncertainties described in its reports and other documents filed with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date of this report, and the Company undertakes no obligation to publicly update them except as required by law.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Shake Shack Inc. (Registrant) Dated: August 27, 2024 By: /s/ Ronald Palmese, Jr. Ronald Palmese, Jr. Chief Legal Officer