- SHAK +2.76%
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Katherine Fogertey has resigned from her position as chief financial officer of Shake Shack effective immediately, the fast-casual burger chain said Tuesday. She will leave the company effective March 4 and until then will work as a senior advisor for the company to ensure a smooth transition.
The company that operates and franchises more than 645 restaurants said it would begin a search for her replacement immediately and in the interim will form an “Office of the CFO” comprised of leaders in financial planning, accounting, treasury, data science, and investor relations.
Fogertey joined the company in 2021 after working as an analyst for Goldman Sachs. Since then the company has seen same-store sales growth every quarter.
“Katie has made a meaningful and positive impact on Shake Shack, helping us navigate pivotal moments in growth and transition,” chief executive officer Rob Lynch, who stepped into that role in May of 2024, said in a statement. “We are grateful for her significant contributions to the strategic and financial growth of our company and wish her continued success in all that comes next. We also have full confidence in the experienced team of leaders who will guide the newly established Office of the CFO in the interim as we begin our search for our next CFO.”
Shake Shack did not state a reason for Fogertey’s departure.
“I am incredibly proud of all that we have achieved together during my time as CFO, including doubling our footprint and implementing meaningful improvements to our business model," she said in a statement. “We have built a solid foundation that will help power Shake Shack’s robust growth opportunity for many years to come. I want to express my heartfelt gratitude to our amazing leaders on the finance team, in our shacks, and broadly at our support centers — your support has been vital to all that we have achieved. As I transition into my new role as senior advisor, I am dedicated to ensuring a smooth handoff and continuing to support the company. I am excited to continue to cheer on Shake Shack and watch this team reach new heights.”
Shake Shack also reiterated its guidance for the fourth quarter and fiscal year 2025.
For the quarter ending Dec. 31, 2025 it expects:
• Revenue of between $406 million and $412 million, including licensing revenue of between $15.4 million and $15.7 million
• Same-store sales growth in the low single digits
• Restaurant-level operating profit margin of 23.3% to 23.8%
Story Continues• Fifteen to 20 company-operating restaurant openings
• Twelve to 17 licensed restaurant openings
For the fiscal year it expects:
• Revenue of approximately $1.45 billion, a 16% year-over-year increase, including licensing revenue of between $54.1 million and $54.5 million
• Same-store sales up by low single digits
• Restaurant-level margin of 22.7% to 23%
• General and administrative expenses of 12.3% to $12.5% of total revenue
• Equity-based compensation of approximately $20 million
• Depreciation and amortization expense of $107 million to $109 million
• Pre-opening costs of approximately $19 million
• Adjusted EBITDA of $210 million to $215 million
• Adjusted pro forma tax rate of 24% to 25%
• Company-operated openings of 45 to 50, and
• Licensed openings of 35 to 40
Shake Shack operates more than 410 restaurants in 35 states and the District of Columbia and has more than 230 licensed locations abroad.
Contact Bret Thorn at [email protected]
Follow him on TikTok and Instagram: @foodwriterdiary
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