SHAKE SHACK INC., 10-K filed on 2/21/2025
Annual Report
v3.25.0.1
COVER PAGE - USD ($)
 12 Months Ended
Dec. 25, 2024
Feb. 12, 2025
Jun. 26, 2024
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 25, 2024    
Current Fiscal Year End Date --12-25    
Document Transition Report false    
Entity File Number 001-36823    
Entity Registrant Name SHAKE SHACK INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 47-1941186    
Entity Address, Address Line One 225 Varick Street    
Entity Address, Address Line Two Suite 301    
Entity Address, City or Town New York,    
Entity Address, State or Province NY    
Entity Address, Postal Zip Code 10014    
City Area Code 646    
Local Phone Number 747-7200    
Title of 12(b) Security Class A Common Stock, par value $0.001    
Trading Symbol SHAK    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Public Float     $ 3,362,867,392
Documents Incorporated by Reference DOCUMENTS INCORPORATED BY REFERENCEPortions of the registrant’s definitive Proxy Statement for its 2025 Annual Meeting of Shareholders are incorporated by reference into Part III of this Form 10-K.    
Amendment Flag false    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Entity Central Index Key 0001620533    
Class A Common Stock      
Document Information [Line Items]      
Entity Common Stock, Shares Outstanding   40,082,069  
Class B Common Stock      
Document Information [Line Items]      
Entity Common Stock, Shares Outstanding   2,450,713  
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Audit Information
 12 Months Ended
Dec. 25, 2024
Auditor Information [Abstract]  
Auditor Firm ID 42
Auditor Name Ernst & Young LLP
Auditor Location New York, New York
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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 25, 2024
Dec. 27, 2023
Current assets:    
Cash and cash equivalents $ 320,714 $ 224,653
Marketable securities 0 68,561
Accounts receivable, net 19,687 16,847
Inventories 6,014 5,404
Prepaid expenses and other current assets 21,801 18,967
Total current assets 368,216 334,432
Property and equipment, net of accumulated depreciation of $457,186 and $376,760, respectively. 551,600 530,995
Operating lease assets 424,611 398,296
Deferred income taxes, net 341,586 326,208
Other assets 10,958 15,926
TOTAL ASSETS 1,696,971 1,605,857
Current liabilities:    
Accounts payable 23,609 22,273
Accrued expenses 63,005 54,742
Accrued wages and related liabilities 25,422 20,945
Operating lease liabilities, current 55,739 49,004
Other current liabilities 19,538 17,103
Total current liabilities 187,313 164,067
Long-term debt 246,683 245,636
Long-term operating lease liabilities 494,499 464,533
Liabilities under tax receivable agreement, net of current portion 247,017 235,613
Other long-term liabilities 27,833 26,638
Total liabilities 1,203,345 1,136,487
Commitments and contingencies (Note 17)
Stockholders' equity:    
Preferred stock, no par value—10,000,000 shares authorized; none issued and outstanding as of September 27, 2023 and December 28, 2022. 0 0
Additional paid-in capital 442,993 426,601
Retained earnings 26,984 16,777
Accumulated other comprehensive loss (1) (3)
Total stockholders' equity attributable to Shake Shack Inc. 470,018 443,417
Non-controlling interests 23,608 25,953
Total equity 493,626 469,370
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 1,696,971 1,605,857
Class A Common Stock    
Stockholders' equity:    
Common stock 40 39
Class B Common Stock    
Stockholders' equity:    
Common stock $ 2 $ 3
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CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
TOTAL REVENUE $ 1,252,608 $ 1,087,533 $ 900,486
Shack-level operating expenses:      
Food and paper costs 339,940 305,041 261,584
Labor and related expenses 338,750 304,254 257,358
Other operating expenses 178,381 149,449 129,650
Occupancy and related expenses 93,069 79,846 68,508
General and administrative expenses 149,047 129,542 120,009
Depreciation and amortization expense 102,468 91,242 72,796
Pre-opening costs 15,547 19,231 15,050
Impairments, loss on disposal of assets, and Shack closures 32,368 3,007 2,425
TOTAL EXPENSES 1,249,570 1,081,612 927,380
INCOME (LOSS) FROM OPERATIONS 3,038 5,921 (26,894)
Other income, net 13,251 12,776 4,127
Interest expense (2,045) (1,717) (1,518)
INCOME (LOSS) BEFORE INCOME TAXES 14,244 16,980 (24,285)
Income tax expense (benefit) 3,424 (4,010) (1,180)
NET INCOME (LOSS) 10,820 20,990 (23,105)
Less: Net income (loss) attributable to non-controlling interests 613 726 (1,876)
NET INCOME (LOSS) ATTRIBUTABLE TO SHAKE SHACK INC. $ 10,207 $ 20,264 $ (21,229)
Earnings (loss) per share of Class A common stock:      
Basic (in dollars per share) $ 0.26 $ 0.51 $ (0.54)
Diluted (in dollars per share) $ 0.24 $ 0.48 $ (0.54)
Weighted average shares of Class A common stock outstanding:      
Basic (in shares) 39,830 39,419 39,237
Diluted (in shares) 44,203 43,899 39,237
Shack sales      
TOTAL REVENUE $ 1,207,561 $ 1,046,819 $ 869,270
Licensing revenue      
TOTAL REVENUE $ 45,047 $ 40,714 $ 31,216
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Statement of Comprehensive Income [Abstract]      
Net income (loss) $ 10,820 $ 20,990 $ (23,105)
Other comprehensive income (loss), net of tax:      
Change in foreign currency translation adjustment 2 (3) (1)
OTHER COMPREHENSIVE INCOME (LOSS) 2 (3) (1)
COMPREHENSIVE INCOME (LOSS) 10,822 20,987 (23,106)
Less: Comprehensive income (loss) attributable to non-controlling interests 613 726 (1,876)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO SHAKE SHACK INC. $ 10,209 $ 20,261 $ (21,230)
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($)
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Statement of Comprehensive Income [Abstract]      
Income tax benefit [1] $ 0 $ 0 $ 0
[1] Net of tax benefit of $0 for fiscal years ended December 25, 2024, December 27, 2023 and December 28, 2022.
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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Class A Common Stock
Class B Common Stock
Common stock
Class A Common Stock
Common stock
Class B Common Stock
Additional Paid-In Capital
Retained Earnings (Accumulated Deficit)
Accumulated Other Comprehensive Income (Loss)
Non- Controlling Interest
Beginning balance (shares) at Dec. 29, 2021       39,142,397 2,921,587        
Beginning balance at Dec. 29, 2021 $ 449,805     $ 39 $ 3 $ 405,957 $ 17,742 $ 1 $ 26,063
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) (23,105)           (21,229)   (1,876)
Other comprehensive income (loss):                  
Change in foreign currency translation adjustment (1)             (1)  
Equity-based compensation 13,518         13,518      
Activity under stock compensation plans (in shares)       90,527          
Activity under stock compensation plan (1,810)         (2,978)     1,168
Redemption of LLC interests (in shares)       52,074 (52,074)        
Redemption of LLC interests 0         313     (313)
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis (1,161)         (1,161)      
Distributions paid to non-controlling interest holders (410)               (410)
Ending balance (shares) at Dec. 28, 2022       39,284,998 2,869,513        
Ending balance at Dec. 28, 2022 436,836     $ 39 $ 3 415,649 (3,487) 0 24,632
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 20,990           20,264   726
Other comprehensive income (loss):                  
Change in foreign currency translation adjustment (3)             (3)  
Equity-based compensation 15,174         15,174      
Activity under stock compensation plans (in shares)       154,317          
Activity under stock compensation plan (2,249)         (3,271)     1,022
Redemption of LLC interests (in shares)       35,000 (35,000)        
Redemption of LLC interests 0         265     (265)
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis (1,216)         (1,216)      
Distributions paid to non-controlling interest holders (162)               (162)
Ending balance (shares) at Dec. 27, 2023   39,474,315 2,834,513 39,474,315 2,834,513        
Ending balance at Dec. 27, 2023 469,370     $ 39 $ 3 426,601 16,777 (3) 25,953
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 10,820           10,207   613
Other comprehensive income (loss):                  
Change in foreign currency translation adjustment 2             2  
Equity-based compensation 16,286         16,286      
Activity under stock compensation plans (in shares)       214,953          
Activity under stock compensation plan (4,573)     $ 1   (5,614)     1,040
Redemption of LLC interests (in shares)       378,800 (378,800)        
Redemption of LLC interests 0       $ (1) 3,517     (3,516)
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis 2,203         2,203      
Distributions paid to non-controlling interest holders (482)               (482)
Ending balance (shares) at Dec. 25, 2024   40,068,068 2,455,713 40,068,068 2,455,713        
Ending balance at Dec. 25, 2024 $ 493,626     $ 40 $ 2 $ 442,993 $ 26,984 $ (1) $ 23,608
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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
OPERATING ACTIVITIES      
Net income (loss) (including amounts attributable to non-controlling interests) $ 10,820 $ 20,990 $ (23,105)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization expense 102,468 91,242 72,796
Amortization of debt issuance costs 1,047 1,047 1,047
Amortization of cloud computing assets 2,138 1,798 1,500
Non-cash operating lease cost 77,432 67,781 58,801
Equity-based compensation 15,915 14,888 13,326
Deferred income taxes (1,054) (9,074) (5,014)
Non-cash interest (102) 116 218
Gain on sale of equity securities 0 (81) 0
Net amortization of discount on held-to-maturity securities 440 1,620 0
Impairments, loss on disposal of assets, and Shack closures 32,368 3,007 2,425
Unrealized loss on equity securities 0 0 158
Changes in operating assets and liabilities:      
Accounts receivable (2,839) (2,970) 9,139
Inventories (610) (1,220) (334)
Prepaid expenses and other current assets (2,629) (2,253) (2,473)
Other assets (2,896) (6,307) (8,065)
Accounts payable 3,356 687 3,541
Accrued expenses 6,644 9,513 3,502
Accrued wages and related liabilities 4,477 3,328 2,859
Other current liabilities (712) (2,809) 8,541
Operating lease liabilities (77,167) (58,216) (61,364)
Other long-term liabilities 2,939 2,292 (756)
NET CASH PROVIDED BY OPERATING ACTIVITIES 171,155 132,139 76,742
INVESTING ACTIVITIES      
Purchases of property and equipment (135,499) (146,167) (142,559)
Purchases of held-to-maturity securities 0 (94,019) 0
Maturities of held-to-maturity marketable securities 69,420 27,078 0
Purchases of equity securities 0 (690) (865)
Sales of equity securities 0 81,478 0
NET CASH USED IN INVESTING ACTIVITIES (66,079) (132,320) (143,424)
FINANCING ACTIVITIES      
Payments on principal of finance leases (3,964) (3,272) (2,974)
Distributions paid to non-controlling interest holders (482) (162) (410)
Net proceeds from stock option exercises 1,627 744 424
Employee withholding taxes related to net settled equity awards (6,198) (2,994) (2,242)
NET CASH USED IN FINANCING ACTIVITIES (9,017) (5,684) (5,202)
Effect of exchange rate changes on cash and cash equivalents 2 (3) (1)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 96,061 (5,868) (71,885)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 224,653 230,521 302,406
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 320,714 $ 224,653 $ 230,521
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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Dec. 25, 2024
Dec. 27, 2023
Property and equipment, net of accumulated depreciation $ 457,186 $ 376,760
Preferred stock, par value (in dollars per share) $ 0 $ 0
Preferred stock, shares authorized (in shares) 10,000,000 10,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Class A Common Stock    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 200,000,000 200,000,000
Common stock, shares, issued (in shares) 40,068,068 39,474,315
Common stock, shares, outstanding (in shares) 40,068,068 39,474,315
Class B Common Stock    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 35,000,000 35,000,000
Common stock, shares, issued (in shares) 2,455,713 2,834,513
Common stock, shares, outstanding (in shares) 2,455,713 2,834,513
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NATURE OF OPERATIONS
 12 Months Ended
Dec. 25, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
NATURE OF OPERATIONS NATURE OF OPERATIONS
Shake Shack Inc. was formed on September 23, 2014 as a Delaware corporation for the purpose of facilitating an initial public offering and other related transactions in order to carry on the business of SSE Holdings, LLC and its subsidiaries ("SSE Holdings"). Shake Shack Inc. is the sole managing member of SSE Holdings and, as sole managing member, the Company operates and controls all of the business and affairs of SSE Holdings. As a result, the Company consolidates the financial results of SSE Holdings and reports a non-controlling interest representing the economic interest in SSE Holdings held by the other members of SSE Holdings. As of December 25, 2024 the Company owned 94.2% of SSE Holdings. Unless the context otherwise requires, "we," "us," "our," "Shake Shack," the "Company" and other similar references, refer to Shake Shack Inc. and, unless otherwise stated, all of its subsidiaries, including SSE Holdings.
The Company operates and licenses Shake Shack restaurants ("Shacks"), which serve burgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine and more. As of December 25, 2024, there were 579 Shacks in operation, system-wide, of which 329 were Company-operated Shacks and 250 were licensed Shacks.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 25, 2024
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and include the accounts of Shake Shack Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Certain reclassifications have been made to prior period amounts to conform to the current year presentation.
SSE Holdings is considered a variable interest entity. Shake Shack Inc. is the primary beneficiary as the Company has the majority economic interest in SSE Holdings and, as the sole managing member, has decision making authority that significantly affects the economic performance of the entity, while the limited partners have no substantive kick-out or participating rights. As a result, the Company consolidates SSE Holdings. The assets and liabilities of SSE Holdings represent substantially all of the Company's consolidated assets and liabilities with the exception of certain deferred taxes and liabilities under the Tax Receivable Agreement. As of December 25, 2024 and December 27, 2023, the net assets of SSE Holdings were $413,793 and $388,250, respectively. The assets of SSE Holdings are subject to certain restrictions in SSE Holdings' revolving credit agreement. Refer to Note 8, Debt, and Note 14, Income Taxes, for additional information.
Fiscal Year
The Company operates on a 52/53 week fiscal year ending on the last Wednesday of December. Fiscal 2024 contained 52 weeks and ended on December 25, 2024 ("fiscal 2024"). Fiscal 2023 contained 52 weeks and ended on December 27, 2023 ("fiscal 2023"). Fiscal 2022 contained 52 weeks and ended on December 28, 2022 ("fiscal 2022"). Unless otherwise stated, references to years in this report relate to fiscal years.
Use of Estimates
The preparation of these Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of sales and expenses during the reporting period. Actual results could differ from those estimates.
Fair Value Measurements
The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. Assets and liabilities are categorized based on the priority of the inputs to the valuation technique into a three-level fair value hierarchy as set forth below.
▪Level 1 — Quoted prices in active markets for identical assets or liabilities.
▪Level 2 — Observable inputs other than quoted prices in active markets for identical assets or liabilities, quoted prices for identical assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability.
▪Level 3 — Inputs that are both unobservable and significant to the overall fair value measurements reflecting an entity's estimates of assumptions that market participants would use in pricing the asset or liability.
Cash and Cash Equivalents
Cash and cash equivalents consist primarily of cash on hand, deposits with banks, money market funds and short-term, highly liquid investments that have original maturities of three months or less. Cash equivalents are stated at cost, which approximates fair value.
Marketable Securities
Marketable securities classified as held-to-maturity securities consist of U.S. Treasuries for which the Company has the ability and intent to hold to maturity and are reported at amortized cost, net of a valuation allowance for credit losses. Interest income and the amortization of discounts and premiums are recorded in Other income, net on the Consolidated Statements of Income (Loss). No expected credit losses were recognized as of December 25, 2024 and December 27, 2023.
Accounts Receivable, Net
Accounts receivable, net consist primarily of receivables from our licensees for licensing revenue and related reimbursements, credit card receivables and vendor rebates. The collectability of accounts receivable is evaluated based on a variety of factors, including historical experience, current economic conditions and other factors.
Inventories
Inventories, which consist of food, paper goods, beverages, beer, wine and retail merchandise, are valued at the lower of weighted average cost or net realizable value. No adjustment is deemed necessary to reduce inventory to net realizable value due to the rapid turnover and high utilization of inventory.
Property and Equipment, Net
Property and equipment, net is stated at historical cost less accumulated depreciation. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the assets, which generally range from five to seven years for equipment, furniture and fixtures, and two to five years for computer equipment and software. Leasehold improvements are depreciated over the shorter of their estimated useful lives or the related lease terms.
Costs incurred when constructing Shacks are capitalized. The cost of repairs and maintenance are expensed when incurred. Costs for refurbishments and improvements that significantly increase the productive capacity or extend the useful life of the assets are capitalized. When assets are disposed, the resulting gain or loss is recognized in Impairments, loss on disposal of assets, and Shack closures on the Consolidated Statements of Income (Loss).
Valuation of Long-lived Assets
The Company assesses potential impairments to its long-lived assets, which include property and equipment and operating and finance lease right-of-use assets, whenever events or circumstances indicate that the carrying value of an asset may not be recoverable. The recoverability evaluation is first performed at the market service area level ("MSA"). If the carrying value of the MSA exceeds its estimated undiscounted future cash flows, a secondary recoverability test is performed for all individual Shacks within the identified MSA. An impairment charge is recognized when the carrying amount of the asset exceeds the fair value of the asset, considering external market participant assumptions, and is allocated across all assets of the impaired Shack. Since
the determination of future cash flows is an estimate of future performance, there may be future impairments in the event that future cash flows do not meet expectations. Refer to Note 4, Fair Value Measurements, for additional information.
Deferred Financing Costs
Deferred financing costs incurred in connection with the issuance of long-term debt and establishing credit facilities are capitalized and amortized in Interest expense on the Consolidated Statements of Income (Loss) based on the related debt agreements. Deferred financing costs are included in Other assets on the Consolidated Balance Sheets.
Other Assets
Other assets consist primarily of capitalized implementation costs from cloud computing arrangements, certain custom pre-ordered furniture, fixtures and equipment for future and existing Shacks, transferable liquor licenses, and security deposits.
Implementation costs associated with cloud computing arrangements hosted by third-party vendors are capitalized when incurred during the application development phase. Amortization is calculated on a straight-line basis over the contractual term of the cloud computing arrangement and is recorded within General and administrative expenses on the Consolidated Statements of Income (Loss). As of December 25, 2024 and December 27, 2023, capitalized implementation costs from cloud computing arrangements totaled $4,051 and $5,572, respectively, net of accumulated amortization.
The costs of obtaining non-transferable liquor licenses that are directly issued by local government agencies for nominal fees are expensed as incurred. The costs of purchasing transferable liquor licenses through open markets in jurisdictions with a limited number of authorized liquor licenses are capitalized as indefinite-lived intangible assets. Annual liquor license renewal fees, for both types of licenses, are expensed over the renewal term. As of December 25, 2024 and December 27, 2023, indefinite-lived intangible assets relating to transferable liquor licenses totaled $2,040 and $1,903, respectively. Indefinite-lived intangible assets are evaluated for impairment at least annually during the fourth quarter, and whenever events or circumstances indicate that an impairment may exist. When evaluating intangible assets for impairment, the Company first performs a qualitative assessment to determine whether it is more likely than not that an intangible asset group is impaired. If determined that it is more likely than not that the carrying value of the intangible asset group exceeds its fair value, the Company performs a quantitative assessment to derive the fair value of the intangible asset group. If the carrying value of the intangible asset group exceeds the estimated fair value, an impairment charge is recorded to reduce the carrying value to the estimated fair value. In addition, the Company continuously monitors and may revise the useful lives of intangible assets when facts and circumstances change.
Revenue Recognition
Shack Sales
Revenue from Shack sales is recognized when payment is tendered at the point of sale, net of discounts, as the performance obligation has been satisfied at that time. Sales tax collected from guests is excluded from Shack sales and the obligation is included in Other current liabilities on the Consolidated Balance Sheets until the taxes are remitted to the appropriate taxing authorities.
Delivery services are fulfilled by third-party delivery partners whether ordered through the Shack app, website (collectively, "Company-owned platforms") or through third-party delivery platforms. Revenue from orders through Company-owned platforms includes delivery fees and is recognized when the delivery partner transfers the order to the guest as the Company controls the delivery. For these sales, the Company receives payment directly from the guest at the time of sale. Revenue from orders through third-party delivery platforms is recognized when the order is transferred to the third-party delivery partner and excludes delivery fees collected by the delivery partner as the Company does not control the delivery. The Company receives payment from the delivery partner subsequent to the transfer of the order and the payment terms are short-term in nature. For all delivery sales, the Company is considered the principal and recognizes revenue on a gross basis.
The Company sells gift cards which do not have expiration dates. Revenue from gift cards is recognized when gift cards are redeemed by the guest or, in the event a gift card is not expected to be redeemed, in proportion to actual redemptions of gift cards ("gift card breakage"). The gift card breakage rate is determined from historical gift card redemption patterns. Gift card breakage income for fiscal 2024, 2023, and 2022 was $413, $327 and $1,472, respectively. During fiscal 2022, the Company concluded it had accumulated a sufficient level of historical data from a large pool of homogeneous transactions to allow it to reasonably and objectively determine an estimated gift card breakage rate and the pattern of actual gift card redemptions. In accordance with ASC 250, Accounting Changes and Error Corrections, the Company concluded that this accounting change represented a change in accounting estimate. As a result, a cumulative catch-up adjustment was recorded during fiscal 2022 that resulted in $1,281 of gift card breakage income. Gift card breakage income is included in Shack sales on the Consolidated Statements of Income (Loss).
Licensing Revenue
Licensing revenue includes initial territory fees, Shack opening fees and ongoing sales-based royalty fees from licensed Shacks. Generally, the licenses granted to develop, open and operate each Shack in a specified territory are the predominant good or service transferred to the licensee and represent distinct performance obligations. Ancillary promised services, such as training and assistance during the initial opening of a Shack, are typically combined with the license and considered one performance obligation per Shack.
The Company determines the transaction price for each contract, which requires judgment as the transaction price is comprised of the initial territory fee and an estimate of the total Shack opening fees based on the estimated number of Shacks the Company expects the licensee to open. The transaction price is then allocated equally to each Shack expected to open. The performance obligation is satisfied over time, starting when a Shack opens through the end of the license term for the related Shack, therefore revenue is recognized on a straight-line basis over the license term.
Generally, payment for the initial territory fee is received upon execution of the license agreement and payment for the Shack opening fees is received either in advance of or upon opening the related Shack. These payments are initially deferred and recognized in revenue as the performance obligations are satisfied. Revenue from sales-based royalties is recognized as the related sales occur.
Equity-based Compensation
Equity-based compensation expense is measured based on the grant-date fair value of the awards. For awards with graded-vesting features and service conditions only, compensation expense is recognized on a straight-line basis over the total requisite service period for the entire award. For awards with graded-vesting features and a combination of service and performance conditions, compensation expense is recognized using a graded-vesting attribution method over the vesting period based on the most probable outcome of the performance conditions. For awards with cliff vesting features and a combination of service and performance conditions, compensation expense is recognized on a straight-line basis over the total requisite service period for the entire award based on the most probable outcome of the performance conditions. For awards that contain a market condition, a Monte Carlo simulation valuation model is used to calculate the grant-date fair value. The assumptions used in the valuation include expected term, volatility, risk-free interest rate, and closing price as of the valuation date. Compensation expense for awards containing a market condition is recognized ratably over the performance period regardless of whether the market condition and requisite service period are met. Actual distributed shares are calculated upon conclusion of the service and performance periods. Forfeitures are recognized as they occur for all equity awards. Equity-based compensation expense is included in General and administrative expenses and Labor and related expenses on the Consolidated Statements of Income (Loss).
Advertising
Most advertising costs are expensed as incurred, with the exception of advertising production costs, which are expensed at the time the advertising first takes place. Advertising costs totaled $22,169, $12,437 and $12,376 in fiscal 2024, fiscal 2023 and fiscal 2022, respectively, and are included in General and administrative expense and Other operating expenses on the Consolidated Statements of Income (Loss).
Leases
Shake Shack currently leases all of its Company-operated Shacks, the home office and certain equipment under various non-cancelable lease agreements that expire on various dates through 2045. The Company evaluates contracts entered into to determine whether the contract involves the use of property or equipment, which is either explicitly or implicitly identified in the contract. The Company evaluates whether it controls the use of the asset, which is determined by assessing whether substantially all economic benefit from the use of the asset is obtained, and whether the Company has the right to direct the use of the asset. If these criteria are met, the Company has identified a lease, within the contract, and therefore a right of use asset and lease liability are recorded on the Consolidated Balance Sheets. Upon possession of a leased asset, the Company determines whether the lease is an operating or finance lease. All of the Company's real estate leases are classified as operating leases and most equipment leases are classified as finance leases.
Generally, real estate leases have initial terms ranging from 10 to 15 years and typically include two five-year renewal options. Renewal options are generally not recognized as part of the right-of-use assets and lease liabilities as it is not reasonably certain at commencement date that the Company would exercise the renewal options. Real estate leases typically contain fixed minimum rent payments and/or contingent rent payments which are based upon sales in excess of specified thresholds. When the achievement of such sales thresholds are deemed to be probable, contingent rent is accrued in proportion to the sales recognized during the period.
For operating leases, fixed lease payments are recognized as operating lease costs on a straight-line basis over the lease term and are reported in specific line items on the Consolidated Statements of Income (Loss). Lease expense incurred before a Shack opens is recorded in Pre-opening costs. Once a Company-operated Shack opens, the straight-line lease expense and contingent rent, if applicable, are recorded in Occupancy and related expenses. Many of these leases also require the Company to pay real estate taxes, common area maintenance costs and other occupancy costs which are included in Occupancy and related expenses. Finance leases are recognized in depreciation expense on a straight-line basis over the remaining lease term, along with recognition of interest expense associated with accretion of the lease liability.
For both operating and finance leases that contain lease and non-lease components, the components are combined and accounted for as a single lease component. Variable lease costs for both operating and finance leases, if any, are recognized as incurred. Leases with a term of 12 months or less are deemed short-term and are not recognized on the Consolidated Balance Sheets. Fixed lease payments for short-term leases are recognized on a straight-line basis over the lease term.
The Company calculates operating lease right-of-use assets and lease liabilities as the present value of fixed lease payments over the reasonably certain lease term beginning at the commencement date. The Company uses its incremental borrowing rate (“IBR”) in determining the present value of future lease payments as there are no explicit rates provided in the leases. The IBR used to measure the lease liability is derived from the average of the yield curves obtained from using the notching method and the recovery rate method. The most significant assumption in calculating the IBR is the Company's credit rating and is subject to judgment. The credit rating used to develop the IBR is determined by utilizing the credit ratings of other public companies with similar financial information as SSE Holdings.
The Company expends cash for leasehold improvements to build out and equip leased properties. Generally, a portion of the leasehold improvements and building costs are reimbursed by the landlords through landlord incentives pursuant to agreed-upon terms in the lease agreements. Landlord incentives usually take the form of cash, full or partial credits against future minimum or contingent rents otherwise payable by the Company, or a combination thereof. In most cases, landlord incentives are received after the Company takes possession of the property and as milestones are met during the construction of the property. The Company includes these amounts in the measurement of the initial operating lease liability and right-of-use asset.
Pre-opening Costs
Pre-opening costs are expensed as incurred and consist primarily of occupancy, manager and team member wages, cookware, travel and lodging costs for the opening training team and other supporting team members, marketing expenses, legal fees, and inventory costs incurred prior to the opening of a Shack.
Income Taxes
Income taxes are accounted for pursuant to the asset and liability method which requires the recognition of deferred income tax assets and liabilities related to the expected future tax consequences arising from temporary differences between the carrying values and tax bases of assets and liabilities based on enacted statutory tax rates applicable to the periods in which the temporary differences are expected to reverse. Any effects of changes in income tax rates or laws are included in Income tax expense on the Consolidated Statements of Income (Loss) in the period of enactment. A valuation allowance is recognized if we determine it is more likely than not that all or a portion of a deferred tax asset will not be recognized. In making such determination, the Company considers all available evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies, and recent and expected future results of operations.
Recently Adopted Accounting Pronouncements     
We adopted the Accounting Standards Update ("ASU") summarized below in fiscal 2024.
ASUDescription
Date Adopted
Segment Reporting (Topic 280): Improvements to
Reportable Segment
Disclosures

(ASU 2023-07)
This ASU requires that an entity report segment information in accordance with Topic 280, Segment Reporting. The amendment in the ASU is intended to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses.

December 25, 2024
Recently Issued Accounting Pronouncements     
Accounting standards updates ("ASU") applicable to the Company that were recently issued are summarized below.
ASUDescriptionEffective Date
Income Taxes (Topic 740): Improvements to Income Tax Disclosures

(ASU 2023-09)
This ASU requires that an entity, on an annual basis, disclose additional income tax information, primarily related to the rate reconciliation and income taxes paid. The amendment in the ASU is intended to enhance the transparency and decision usefulness of income tax disclosures.

Early adoption is permitted. The Company is currently evaluating the impact this standard will have on our Consolidated Financial Statements and related disclosures.
Fiscal years beginning after December 15, 2024
Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses

(ASU 2024-03)
This ASU requires that an entity disaggregate relevant expense captions presented on the face of the income statement into natural expense categories within the footnotes of the financial statements. In addition, a separate disclosure of selling expenses is required to be presented. The ASU is intended to allow stakeholders to better understand the components of an entity's expenses.

Early adoption is permitted. The Company is evaluating the impact this standard will have on its Consolidated Financial Statements and related disclosures.
Fiscal years beginning after December 15, 2026
All other ASUs issued but not yet effective are not applicable or not expected to have a material impact on the Company’s future Consolidated Financial Statements.
v3.25.0.1
REVENUE
 12 Months Ended
Dec. 25, 2024
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Revenue Recognition
Revenue disaggregated by type was as follows:
202420232022
Shack sales$1,207,561 $1,046,819 $869,270 
Licensing revenue:
Sales-based royalties43,487 39,853 30,204 
Initial territory and opening fees1,560 861 1,012 
Total revenue$1,252,608 $1,087,533 $900,486 
The aggregate amount of the transaction price allocated to performance obligations that were unsatisfied or partially unsatisfied as of December 25, 2024 was $23,130. The Company expects to recognize this amount as revenue over a long-term period, as the license term for each Shack ranges from five to twenty years. This amount excludes any variable consideration related to sales-based royalties.
Contract Balances
Contract liabilities and receivables from contracts with customers were as follows:
December 25
2024		December 27
2023
Shack sales receivables$10,699 $9,884 
Licensing receivables, net of allowance for doubtful accounts5,735 4,610 
Gift card liability2,584 2,603 
Deferred revenue, current1,666 1,192 
Deferred revenue, long-term17,060 17,157 
Revenue recognized that was included in the respective liability balances at the beginning of the period was as follows:
20242023
Gift card liability
$776 $634 
Deferred revenue1,461 1,103 
v3.25.0.1
FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 25, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The carrying values of the Company's Cash and cash equivalents, Accounts receivable, net, Accounts payable and Accrued expenses approximate fair value due to the short-term nature of these financial instruments.
The Company's marketable securities were as follows:
December 25
2024		December 27
2023
Held-to-maturity securities
$— $68,561 
The Company classified its held-to-maturity securities as Level 1 within the fair value hierarchy. Refer to Note 8, Debt, for additional information relating to the fair value of the Company's outstanding debt instruments.
A summary of other income from marketable securities was as follows:
202420232022
Income from marketable securities
$640 $2,885 $1,033 
Realized gain on sale of equity securities— 81 — 
Unrealized loss on equity securities— — (158)
Total$640 $2,966 $875 
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Assets and liabilities measured at fair value on a non-recurring basis include long-lived assets, operating lease right-of-use assets and indefinite-lived intangible assets. The Company performs its impairment analysis at least annually or whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable.
During fiscal 2024, the Company determined to close and executed the closure of nine underperforming Company-operated Shacks in California, Ohio and Texas as these Shacks were not projected to provide acceptable returns in the foreseeable future, in part due to changes in the trade area and the negative impact on other Shacks within their proximity by cannibalizing sales. The total expenses related to the identified Shack closures were $29,348, of which $27,633 was impairment expense, related to right-of-use assets, and property, plant and equipment, and $1,715 was miscellaneous Shack closure expense. The fair values of assets were determined using an income-based approach and are classified as Level 3 within the fair value hierarchy. Significant inputs include projections of future cash flows, Shack sales, profitability, discount rates, and sublease income.
No impairment charges were recognized during fiscal 2023. During fiscal 2022, the Company recognized an impairment charge of $99 related to one Shack. These impairment charges were included in Impairments, loss on disposal of assets, and Shack closures on the Consolidated Statements of Income (Loss).
v3.25.0.1
ACCOUNTS RECEIVABLE, NET
 12 Months Ended
Dec. 25, 2024
Receivables [Abstract]  
ACCOUNTS RECEIVABLE, NET ACCOUNTS RECEIVABLE, NET
The components of Accounts receivable, net were as follows:
December 25
2024		December 27
2023
Licensing receivables, net of allowance for doubtful accounts
$5,735 $4,610 
Credit card receivables5,856 6,360 
Delivery receivables4,225 3,039 
Other receivables3,871 2,838 
Accounts receivable, net$19,687 $16,847 
v3.25.0.1
PROPERTY AND EQUIPMENT, NET
 12 Months Ended
Dec. 25, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET PROPERTY AND EQUIPMENT, NET
The components of Property and equipment, net were as follows:

December 25
2024		December 27
2023
Leasehold improvements$676,098 $594,024 
Equipment116,561 98,780 
Furniture and fixtures34,057 31,469 
Computer equipment and software122,406 101,822 
Financing equipment lease right-of-use assets19,630 25,127 
Construction in progress40,034 56,533 
Property and equipment, gross1,008,786 907,755 
Less: accumulated depreciation(457,186)(376,760)
Property and equipment, net$551,600 $530,995 
Depreciation expense was $102,442, $91,216 and $72,770 for fiscal 2024, fiscal 2023 and fiscal 2022, respectively.
v3.25.0.1
SUPPLEMENTAL BALANCE SHEET INFORMATION
 12 Months Ended
Dec. 25, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
SUPPLEMENTAL BALANCE SHEET INFORMATION SUPPLEMENTAL BALANCE SHEET INFORMATION
The components of Prepaid expenses and other current assets were as follows:
December 25
2024		December 27
2023
Prepaid expenses
$8,196 $5,641 
Tenant allowance receivables
12,761 12,136 
Other
844 1,190 
Prepaid expenses and other current assets
$21,801 $18,967 
The components of Other current liabilities were as follows:
December 25
2024		December 27
2023
Sales tax payable$6,999 $6,076 
Current portion of financing equipment lease liabilities4,086 3,435 
Gift card liability2,584 2,603 
Other5,869 4,989 
Other current liabilities$19,538 $17,103 
v3.25.0.1
DEBT
 12 Months Ended
Dec. 25, 2024
Debt Disclosure [Abstract]  
DEBT DEBT
Convertible Notes
The Company's $250,000 aggregate principal amount of 0% Convertible Senior Notes due 2028 (“Convertible Notes”) will mature on March 1, 2028, unless earlier converted, redeemed or repurchased in certain circumstances. Upon conversion, the Company pays or delivers, as the case may be, cash, shares of Class A common stock or a combination of cash and shares of Class A common stock, at the Company's election.
The Convertible Notes are convertible at the option of the holders at any time prior to the close of business on the business day immediately preceding December 1, 2027, only under the following circumstances: (1) during any fiscal quarter commencing after the fiscal quarter ending on June 30, 2021 (and only during such fiscal quarter), if the last reported sale price of the Company's Class A common stock, par value $0.001 per share, for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price for the Convertible Notes on each applicable trading day; (2) during the five business day period after any 10 consecutive trading day period (the “measurement period”) in which the trading price (as defined in the Indenture) per one thousand dollar principal amount of the Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of Class A common stock and the conversion rate for the Convertible Notes on each such trading day; (3) if the Company calls such Convertible Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date, but only with respect to the Convertible Notes called (or deemed called) for redemption; and (4) upon the occurrence of specified corporate events as set forth in the Indenture. On or after December 1, 2027, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the Convertible Notes may convert all or any portion of their Convertible Notes at any time, regardless of the foregoing circumstances.
The Convertible Notes had an initial conversion rate of 5.8679 shares of Class A common stock per one thousand dollar principal amount of Convertible Notes, which is equivalent to an initial conversion price of approximately $170.42 per share of Class A common stock. The fair value of the Convertible Notes was approximately $256,900 and $205,000, respectively, as of December 25, 2024 and December 27, 2023, based on external pricing data, including available quoted market prices of these instruments, and consideration of comparable debt instruments with similar interest rates and trading frequency, among other factors, and is classified as a Level 2 measurement within the fair value hierarchy.
The Company may not redeem the Convertible Notes prior to March 6, 2025. The Company may redeem for cash all or any portion of the Convertible Notes, at the Company's option, on or after March 6, 2025 if the last reported sale price of Class A common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date.
In addition, if Shake Shack undergoes a fundamental change (as defined in the indenture governing the Convertible Notes), subject to certain conditions, holders may require it to repurchase for cash all or any portion of their Convertible Notes at a repurchase price equal to 100% of the principal amount of the Convertible Notes to be repurchased, plus accrued and unpaid special interest, if any, to, but excluding, the fundamental change repurchase date. In addition, following certain corporate events that occur prior to the maturity date of the Convertible Notes or if the Company delivers a notice of redemption in respect of some or all of the Convertible Notes, the Company will, in certain circumstances, increase the conversion rate of the Convertible Notes for a holder who elects to convert the Convertible Notes in connection with such a corporate event or convert the Convertible Notes called (or deemed called) for redemption during the related redemption period, as the case may be.
Contemporaneously with the issuance of the Convertible Notes, Shake Shack Inc. entered into an intercompany note with SSE Holdings (“Intercompany Note”). SSE Holdings promises to pay Shake Shack Inc., for value received, the principal amount with interest of the Intercompany Note in March 2028. Shake Shack Inc. will exercise its right to convert the Intercompany Note to maintain at all times a one-to-one ratio between the number of common units, directly or indirectly, held by Shake Shack Inc. and the aggregate number of outstanding shares of common stock.
Classification202420232022
Amortization expense on Convertible NotesInterest expense$1,047 $1,047 $1,047 
December 25
2024		December 27
2023
Convertible Notes
$250,000 $250,000 
Discount and debt issuance costs, net of amortization(3,317)(4,364)
Long-term debt
$246,683 $245,636 
Revolving Credit Facility
The Company maintains a revolving credit facility agreement ("Revolving Credit Facility") which permits borrowings up to $50,000 with the ability to increase available borrowings up to an additional $100,000, subject to satisfaction of certain conditions. The Revolving Credit Facility has a maturity date of March 5, 2026.
In fiscal 2023, the Company entered into the fourth amendment to the Revolving Credit Facility ("Fourth Amendment"), which, among other things, modified the benchmark interest rate to either: (i) the base rate plus applicable margin ranging from 0.0% to 1.5% or (ii) the Secured Overnight Financing Rate (“SOFR”) plus applicable margin ranging from 1.0% to 2.5%, in each case dependent upon the net lease adjusted leverage ratio. As of December 25, 2024 and December 27, 2023, no amounts were outstanding under the Revolving Credit Facility.
The obligations under the Revolving Credit Facility are secured by a first-priority security interest in substantially all of the assets of SSE Holdings and the guarantors. The obligations under the Revolving Credit Facility are guaranteed by each of SSE Holdings' direct and indirect subsidiaries, with certain exceptions. The Revolving Credit Facility requires the Company to comply with maximum net lease adjusted leverage and minimum fixed charge coverage ratios, as well as other customary affirmative and negative covenants. As of December 25, 2024, the Company was in compliance with all covenants.
The Revolving Credit Facility also permits the issuance of letters of credit upon our request of up to $15,000. As of December 25, 2024 and December 27, 2023, the Company had outstanding letters of credit of $3,894 and $3,147, respectively, in connection with the Revolving Credit Facility.
Classification202420232022
Interest expense on Revolving Credit FacilityInterest expense$67 $74 $82 
ClassificationDecember 25
2024		December 27
2023
Unamortized deferred financing costs on Revolving Credit FacilityOther assets$23 $42 
v3.25.0.1
LEASES
 12 Months Ended
Dec. 25, 2024
Leases [Abstract]  
LEASES LEASES
A summary of operating and finance right-of-use assets and lease liabilities were as follows:
ClassificationDecember 25
2024		December 27
2023
Operating leasesOperating lease assets$424,611 $398,296 
Finance leasesProperty and equipment, net12,225 11,801 
Total right-of-use assets$436,836 $410,097 
Operating leases:
Operating lease liabilities, current$55,739 $49,004 
Long-term operating lease liabilities494,499 464,533 
Finance leases:
Other current liabilities4,086 3,435 
Other long-term liabilities8,616 8,721 
Total lease liabilities$562,940 $525,693 
The components of lease expense were as follows:
Classification202420232022
Operating lease cost
Occupancy and related expenses
Pre-opening costs
General and administrative expenses
$77,432 $67,781 $58,788 
Finance lease cost:
Amortization of right-of-use assetsDepreciation and amortization expense4,181 3,324 3,071 
Interest on lease liabilitiesInterest expense770 476 226 
Variable lease costOccupancy and related expenses
Pre-opening costs
General and administrative expenses		21,694 18,305 15,973 
Short-term lease costOccupancy and related expenses840 938 580 
Total lease cost$104,917 $90,824 $78,638 
As of December 25, 2024, future minimum lease payments for operating and finance leases consisted of the following:
Operating LeasesFinance Leases
2025¹$73,946 $4,719 
202690,942 3,977 
202786,408 3,239 
202882,420 1,707 
202976,049 297 
Thereafter298,374 77 
Total minimum payments708,139 14,016 
Less: imputed interest170,662 1,314 
Total lease liabilities$537,477 $12,702 
(1)Operating leases are net of certain tenant allowance receivables that were reclassified to Other current assets as of December 25, 2024.

As of December 25, 2024, the Company had additional operating lease commitments of $138,716 for non-cancelable leases without a possession date, which commence in 2025 or later. The terms of these lease commitments are materially consistent with leases recognized on the Consolidated Balance Sheets.
A summary of lease terms and discount rates for operating and finance leases were as follows:
December 25
2024		December 27
2023
Weighted average remaining lease term (years):
Operating leases8.78.9
Finance leases3.34.7
Weighted average discount rate:
Operating leases6.2 %6.2 %
Finance leases6.1 %5.6 %
Supplemental cash flow information related to leases was as follows:
202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$91,783 $72,128 $61,114 
Operating cash flows from finance leases770 476 226 
Financing cash flows from finance leases3,964 3,272 2,974 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases84,887 72,403 56,578 
Finance leases4,792 8,972 2,415 
LEASES LEASES
A summary of operating and finance right-of-use assets and lease liabilities were as follows:
ClassificationDecember 25
2024		December 27
2023
Operating leasesOperating lease assets$424,611 $398,296 
Finance leasesProperty and equipment, net12,225 11,801 
Total right-of-use assets$436,836 $410,097 
Operating leases:
Operating lease liabilities, current$55,739 $49,004 
Long-term operating lease liabilities494,499 464,533 
Finance leases:
Other current liabilities4,086 3,435 
Other long-term liabilities8,616 8,721 
Total lease liabilities$562,940 $525,693 
The components of lease expense were as follows:
Classification202420232022
Operating lease cost
Occupancy and related expenses
Pre-opening costs
General and administrative expenses
$77,432 $67,781 $58,788 
Finance lease cost:
Amortization of right-of-use assetsDepreciation and amortization expense4,181 3,324 3,071 
Interest on lease liabilitiesInterest expense770 476 226 
Variable lease costOccupancy and related expenses
Pre-opening costs
General and administrative expenses		21,694 18,305 15,973 
Short-term lease costOccupancy and related expenses840 938 580 
Total lease cost$104,917 $90,824 $78,638 
As of December 25, 2024, future minimum lease payments for operating and finance leases consisted of the following:
Operating LeasesFinance Leases
2025¹$73,946 $4,719 
202690,942 3,977 
202786,408 3,239 
202882,420 1,707 
202976,049 297 
Thereafter298,374 77 
Total minimum payments708,139 14,016 
Less: imputed interest170,662 1,314 
Total lease liabilities$537,477 $12,702 
(1)Operating leases are net of certain tenant allowance receivables that were reclassified to Other current assets as of December 25, 2024.

As of December 25, 2024, the Company had additional operating lease commitments of $138,716 for non-cancelable leases without a possession date, which commence in 2025 or later. The terms of these lease commitments are materially consistent with leases recognized on the Consolidated Balance Sheets.
A summary of lease terms and discount rates for operating and finance leases were as follows:
December 25
2024		December 27
2023
Weighted average remaining lease term (years):
Operating leases8.78.9
Finance leases3.34.7
Weighted average discount rate:
Operating leases6.2 %6.2 %
Finance leases6.1 %5.6 %
Supplemental cash flow information related to leases was as follows:
202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$91,783 $72,128 $61,114 
Operating cash flows from finance leases770 476 226 
Financing cash flows from finance leases3,964 3,272 2,974 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases84,887 72,403 56,578 
Finance leases4,792 8,972 2,415 
v3.25.0.1
EMPLOYEE BENEFIT PLANS
 12 Months Ended
Dec. 25, 2024
Compensation Related Costs [Abstract]  
EMPLOYEE BENEFIT PLANS EMPLOYEE BENEFIT PLANS
Defined Contribution Plan
Team members who have completed 90 days of continuous employment and are 21 years or older are eligible to participate in a defined contribution savings plan maintained by Shake Shack. The plan is funded by participant and employer contributions. Employer contributions, made at the Company's discretion, are paid directly to the third-party trustee and match a portion of certain participants' contributions. The Company matches 100% of certain participants' contributions for the first 3% of eligible compensation contributed and 50% of contributions made in excess of 3% of eligible compensation up to 5% of eligible compensation. Employer contributions totaled $2,319, $1,888 and $1,553, respectively, for fiscal 2024, fiscal 2023 and fiscal 2022.
v3.25.0.1
STOCKHOLDER'S EQUITY
 12 Months Ended
Dec. 25, 2024
Equity [Abstract]  
STOCKHOLDER'S EQUITY STOCKHOLDERS' EQUITY
LLC Interests
The SSE Holdings LLC Agreement provides that holders of LLC Interests may, from time to time, require SSE Holdings to redeem all or a portion of their LLC Interests for newly-issued shares of Class A common stock on a one-for-one basis. In connection with any redemption or exchange, the Company receives a corresponding number of LLC Interests, increasing its total ownership interest in SSE Holdings. Simultaneously, and in connection with a redemption, the corresponding number of shares of Class B common stock are surrendered and cancelled. Refer to Note 12, Non-Controlling Interests, for additional information related to LLC Interests activity.
Dividend Restrictions
Shake Shack Inc. is a holding company with no direct operations. As a result, its ability to pay cash dividends on its common stock, if any, is dependent upon cash dividends, distributions or other transfers from SSE Holdings. The amounts available to pay cash dividends are subject to certain covenants and restrictions set forth in the Revolving Credit Facility. As of December 25, 2024, essentially all of the net assets of SSE Holdings were restricted.
v3.25.0.1
NON-CONTROLLING INTERESTS
 12 Months Ended
Dec. 25, 2024
Noncontrolling Interest [Abstract]  
NON-CONTROLLING INTERESTS NON-CONTROLLING INTERESTS
Shake Shack is the primary beneficiary and sole managing member of SSE Holdings and, as a result, consolidates the financial results of SSE Holdings. The Company reports a non-controlling interest representing the economic interest held by the other members of SSE Holdings. The Third Amended and Restated Limited Liability Company Agreement, as further amended, (the "LLC Agreement") of SSE Holdings provides that holders of SSE Holdings, LLC membership interests ("LLC Interests") may, from time to time, require SSE Holdings to redeem all or a portion of their LLC Interests for newly-issued shares of Class A common stock on a one-for-one basis. In connection with any redemption or exchange, the Company will receive a corresponding number of LLC Interests, increasing the total ownership interest in SSE Holdings. Changes in the ownership interest in SSE Holdings while the Company retains its controlling interest in SSE Holdings will be accounted for as equity transactions. As such, future redemptions or direct exchanges of LLC Interests in SSE Holdings by the other members of SSE Holdings will result in a change in ownership and reduce the amount recorded as non-controlling interest and increase additional paid-in capital.
The following table summarizes the ownership interest in SSE Holdings:
20242023
LLC InterestsOwnership %LLC InterestsOwnership %
Number of LLC Interests held by Shake Shack Inc.40,068,068 94.2 %39,474,315 93.3 %
Number of LLC Interests held by non-controlling interest holders2,455,713 5.8 %2,834,513 6.7 %
Total LLC Interests outstanding42,523,781 100.0 %42,308,828 100.0 %
The weighted average ownership percentages for the applicable reporting periods are used to attribute Net income (loss) and Other comprehensive income (loss) to the non-controlling interest holders and were as follows:
202420232022
Non-controlling interest holders' weighted average ownership percentages6.2 %6.7 %6.9 %
The following table summarizes the effects of changes in ownership of SSE Holdings on the Company's equity:
202420232022
Net income (loss) attributable to Shake Shack Inc.$10,207 $20,264 $(21,229)
Other comprehensive income (loss):
Unrealized holding income (loss) on foreign currency translation adjustment2 (3)(1)
Transfers (to) from non-controlling interests:
Increase in additional paid-in capital as a result of the redemption of LLC Interests3,517 265 313 
Decrease in additional paid-in capital as a result of activity under stock compensation plan(5,614)(3,271)(2,978)
Total effect of changes in ownership interest on equity attributable to Shake Shack Inc.$8,112 $17,255 $(23,895)
The following table summarizes the LLC Interests activity:
202420232022
LLC Interests activity under the Company's stock compensation plan
Number of LLC Interests received by Shake Shack Inc.214,953 154,317 90,527 
Redemption and acquisition of LLC Interests
Number of LLC Interests redeemed by non-controlling interest holders378,800 35,000 52,074 
Number of LLC Interests received by Shake Shack Inc.378,800 35,000 52,074 
Issuance of Class A common stock
Shares of Class A common stock issued in connection with redemptions of LLC Interests378,800 35,000 52,074 
Cancellation of Class B common stock
Shares of Class B common stock surrendered and canceled378,800 35,000 52,074 
v3.25.0.1
EQUITY-BASED COMPENSATION
 12 Months Ended
Dec. 25, 2024
Share-Based Payment Arrangement [Abstract]  
EQUITY-BASED COMPENSATION EQUITY-BASED COMPENSATION
A summary of equity-based compensation expense by award type was as follows:
202420232022
Performance stock units$2,611 $3,149 $4,199 
Restricted stock units13,304 11,739 9,127 
Equity-based compensation expense$15,915 $14,888 $13,326 
Total income tax benefit recognized related to equity-based compensation$396 $391 $302 
Equity-based compensation expense recognized was as follows:
202420232022
General and administrative expenses$14,339 $13,587 $12,305 
Labor and related expenses1,576 1,301 1,021 
Equity-based compensation expense$15,915 $14,888 $13,326 
The Company capitalized $371, $286 and $192 of equity-based compensation expense associated with the construction cost of our Shacks and certain digital and technology projects, during fiscal 2024, fiscal 2023 and fiscal 2022, respectively.
Restricted Stock Units
In January 2015, the Company adopted the 2015 Incentive Award Plan (the "2015 Plan") under which it may grant up to 5,865,522 restricted stock units and other equity-based awards to team members, directors and officers. In June 2024, the Company amended and restated the 2015 Plan (the “2025 Plan”) which authorizes the issuance of up to 842,321 additional shares of the Company’s Class A Common Stock and extends the term of the 2015 Plan by 10 years, among other things.
The restricted stock units granted generally vest equally over periods ranging from one to five years. The fair value of restricted stock units is determined based on the closing market price of our Class A common stock on the date of grant. Compensation expense related to the restricted stock units is recognized using a straight-line attribution method over the vesting period.
A summary of restricted stock unit activity was as follows:
Restricted
Stock
Units
Weighted
Average
Grant Date Fair Value
Outstanding and unvested as of December 27, 2023511,544 $67.82 
Granted199,345 102.77 
Vested(185,649)70.31 
Forfeited(82,436)73.41 
Outstanding and unvested as of December 25, 2024442,804 $81.47 
The weighted average grant-date fair value of restricted stock units granted during fiscal 2023 and fiscal 2022 were $58.26 and $71.25, respectively. The total fair value of shares vested during fiscal 2023 and fiscal 2022 was $10,382 and $5,936, respectively. As of December 25, 2024, total unrecognized compensation expense related to unvested restricted stock units was $25,942, which is expected to be recognized over a weighted average period of 2.5 years.
Performance Stock Units
Under the 2025 Plan, the Company may grant performance stock units and other types of performance-based equity awards that vest based on the outcome of certain performance criteria that are established and approved by the Compensation Committee of the Board of Directors. The actual number of equity awards earned is based on the level of performance achieved over a predetermined performance period, relative to established financial goals.
Performance stock units granted during fiscal 2024 are subject to a requisite service period and the awards vest ratably over four years or cliff vest over three years. The amount of awards that can be earned ranges from 0% to 200% of the number of performance stock units granted, based on the achievement of approved financial goals over a one-year or three-year performance period.
Performance stock units containing market conditions are based on a Monte Carlo simulation, and related compensation expense is recognized using a graded attribution method over the vesting period and does not change regardless of the amount of shares received by the recipient based on achievement of the awards. The fair value of performance stock units not containing a market condition is determined based on the closing market price of the Company's Class A common stock on the date of grant. Compensation expense related to the performance stock units not containing a market condition is recognized using either a graded-vesting attribution method or straight-line over the vesting period based on the most probable outcome of the performance conditions. No performance stock units were granted during fiscal 2023 and fiscal 2022.
A summary of performance stock unit activity was as follows:
Performance
Stock
Units
Weighted
Average
Grant Date Fair Value
Outstanding and unvested as of December 27, 2023121,425 $92.77 
Granted95,624 103.98 
Vested(10,646)129.68 
Forfeited(33,957)91.73 
Outstanding and unvested as of December 25, 2024172,446 $96.82 
The weighted average grant date fair value of performance stock units granted during fiscal 2023 and fiscal 2022 was nil, and nil, respectively. The total fair value of awards that vested during fiscal 2023 and fiscal 2022 was $1,441 and $1,869, respectively. As of December 25, 2024, total unrecognized compensation expense related to unvested performance stock units was $6,645, which is expected to be recognized over a weighted average period of 2.5 years.
Stock Options
Under the 2025 Plan, the Company may grant stock options to team members, directors and officers. The stock options granted generally vest equally over periods ranging from one to five years. The Company does not use cash to settle any of the equity-based awards, and issues new shares of Class A common stock upon the exercise of stock options.
A summary of stock option activity was as follows:
Stock
Options
Weighted
Average
Exercise
Price
Aggregate Intrinsic ValueWeighted Average Remaining Contractual Life (Years)
Outstanding as of December 27, 2023100,625 $21.71 
Exercised(77,369)21.00 
Forfeited(11,144)23.45 
Outstanding as of December 25, 202412,112 $24.66 $1,300 0.5
Options vested and exercisable as of December 25, 202412,112 $24.66 $1,300 0.5
As of December 25, 2024, total unrecognized compensation expense related to unvested stock options was nil. Cash received from stock options exercised was $1,627 and the cash tax benefit realized for the tax deductions from these option exercises was $137 for fiscal 2024. No options were granted during fiscal 2024, fiscal 2023 and fiscal 2022. The total intrinsic value of stock options exercised during fiscal 2024, fiscal 2023 and fiscal 2022 was $7,212, $1,426 and $631, respectively. No stock options vested during fiscal 2024, fiscal 2023 and fiscal 2022.
The following table summarizes information about stock options outstanding and exercisable as December 25, 2024:
Options Outstanding and Exercisable
Number Outstanding at December 25, 2024Weighted Average Remaining Contractual Life (Years)Weighted Average Exercise Price
Exercise Price
$21.00 9,001 0.1$21.00 
$34.62 2,003 1.4$34.62 
$36.41 1,108 1.9$36.41 
v3.25.0.1
INCOME TAXES
 12 Months Ended
Dec. 25, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
Shake Shack is the sole managing member of SSE Holdings, which is classified as a partnership for U.S federal and most applicable state and local income tax purposes. As the managing member, the Company consolidates SSE Holdings financial results. As a partnership, SSE Holdings is not subject to U.S. federal and certain state and local income taxes. Instead, any taxable income or loss generated by SSE Holdings is allocated to its members, including the Company, on a pro rata basis. The Company is subject to U.S. federal, state and local income taxes with respect to its allocable share of taxable income or loss from SSE Holdings, as well as any stand-alone income or loss generated by Shake Shack Inc. The Company is also subject to withholding taxes in foreign jurisdictions.
Income Tax Expense
The components of Income (loss) before income taxes were as follows:
202420232022
Domestic$(18,247)$(13,427)$(49,454)
Foreign32,491 30,407 25,169 
Income (loss) before income taxes$14,244 $16,980 $(24,285)
The components of Income tax expense (benefit) were as follows:
202420232022
Current income taxes:
State and local$554 $1,271 $222 
Foreign3,924 3,793 3,612 
Total current income taxes4,478 5,064 3,834 
Deferred income taxes:
Federal(2,731)(12,427)(4,176)
State and local1,677 3,353 (838)
Total deferred income taxes(1,054)(9,074)(5,014)
Income tax expense (benefit)$3,424 $(4,010)$(1,180)
Reconciliations of Income tax expense (benefit) computed at the U.S. federal statutory income tax rate to the recognized Income tax expense (benefit) and the U.S. statutory income tax rate to our effective tax rates were as follows:
202420232022
Expected U.S. federal income taxes at statutory rate$2,991 21.0 %$3,565 21.0 %$(5,100)21.0 %
State and local income taxes, net of federal benefit2,166 15.2 %2,090 12.3 %(759)3.1 %
Foreign withholding taxes3,924 27.6 %3,792 22.3 %3,612 (14.9)%
Tax credits(7,033)(49.4)%(7,060)(41.6)%(5,969)24.6 %
Non-controlling interest(166)(1.2)%(196)(1.2)%122 (0.5)%
Non-deductible expenses2,240 15.7 %1,169 6.9 %1,467 (6.0)%
Reserve for uncertain tax positions
— — %154 0.9 %— — %
Remeasurement of deferred tax assets in connection with other tax rate changes392 2.8 %1,547 9.1 %225 (0.9)%
Return to provision adjustment
(650)(4.6)%(519)(3.0)%267 (1.1)%
Change in valuation allowance(97)(0.7)%(9,195)(54.1)%4,955 (20.4)%
Other(343)(2.4)%643 3.8 %— — %
Income tax expense (benefit)
$3,424 24.0 %$(4,010)(23.6)%$(1,180)4.9 %
Shake Shack's effective income tax rates for fiscal 2024, fiscal 2023 and fiscal 2022 were 24.0%, (23.6)% and 4.9%, respectively. The increase in the effective income tax rate from fiscal 2023 to fiscal 2024 was primarily driven by the release of a valuation allowance and a higher remeasurement of deferred tax assets in fiscal 2023.
Deferred Tax Assets and Liabilities
The components of deferred tax assets and liabilities were as follows:
December 25
2024		December 27
2023
Deferred tax assets:
Investment in partnership$89,397 $90,419 
Tax Receivable Agreement67,192 64,076 
Operating lease liability5,264 4,713 
Financing lease liability124 114 
Deferred revenue209 196 
Equity-based compensation357 360 
Net operating loss carryforwards148,700 144,144 
Tax credits33,643 26,048 
Other assets1,772 947 
Total gross deferred tax assets346,658 331,017 
Valuation allowance(260)(357)
Total deferred tax assets, net of valuation allowance346,398 330,660 
Deferred tax liabilities:
Property and equipment(537)(599)
Operating lease right-of-use asset (4,147)(3,735)
Financing lease right-of-use asset (119)(111)
Other liabilities(9)(7)
Total gross deferred tax liabilities(4,812)(4,452)
Net deferred tax assets$341,586 $326,208 
As of December 25, 2024, the Company's federal and state net operating loss carryforwards for income tax purposes were $615,782 and $334,359, respectively. Of the federal net operating loss carryforward, $563,915 can be carried forward indefinitely, while the remaining $51,867 will begin to expire in 2035. Similarly, of the state net operating loss carryforward, $106,682 can be carried forward indefinitely, while the remaining $227,677 will begin to expire in 2025. As of December 25, 2024, the Company had federal tax credit carryforwards, including a capital loss carryforward of $33,749, which will begin to expire in 2025 and gross state tax credit carryforwards of $273, also expiring in 2025.
As described in Note 12, Non-controlling Interests, the Company acquired a total of 593,753 LLC Interests during fiscal 2024 through LLC Interest redemptions and stock-based compensation plan activity. Upon acquiring these LLC Interests, the Company recognized a deferred tax asset of $10,985 related to the basis difference in its investment in SSE Holdings. As of December 25, 2024, the total deferred tax asset associated with the basis difference was $89,397.
The Company evaluates the realizability of its deferred tax assets on a quarterly basis and establishes valuation allowances when it is more likely than not that all or a portion of a deferred tax asset may not be realized. As of December 25, 2024, the Company concluded, based on the valuation of all available positive and negative evidence, that all of its deferred tax assets are more likely than not to be realized, except certain state credits and state net operating losses that are not expected to be utilized before expiration. Accordingly, the Company maintained a valuation allowance of $260. The net change in valuation allowance for fiscal 2024 was a decrease of $97. Refer to Schedule II, Valuation and Qualifying Accounts for additional information.
Uncertain Tax Positions
Pursuant to ASC 740, the Company provides for uncertain tax positions based upon our assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. In 2024, no new uncertain tax positions were identified. A reconciliation of the beginning to the ending accounts of gross unrecognized tax benefits for fiscal 2024, 2023, and 2022 is as follows:
202420232022
Beginning balance
$147 $— $— 
Additions for tax positions of prior years
— 263 — 
Settlements
— (116)— 
Ending balance
$147 $147 $— 
The Company files income tax returns in the United States federal and state and local jurisdictions. The Company is currently open to examination by tax authorities for state and local jurisdictions for tax years beginning 2018.
Tax Receivable Agreement
Pursuant to the Company's election under Section 754 of the Internal Revenue Code (the "Code"), the Company expects to obtain an increase in its share of the tax basis in the net assets of SSE Holdings when LLC Interests are redeemed or exchanged by the other members of SSE Holdings. The Company plans to make an election under Section 754 of the Code for each taxable year in which a redemption or exchange of LLC Interest occurs. The Company intends to treat any redemptions and exchanges of LLC Interests as direct purchases of LLC Interests for U.S. federal income tax purposes. These increases in tax basis may reduce the amounts that would otherwise be paid in the future to various tax authorities. They may also decrease gains (or increase losses) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets.
On February 4, 2015, the Company entered into a tax receivable agreement with certain then-existing non-controlling members of SSE Holdings (the "Tax Receivable Agreement"). This agreement obligates the Company to pay the non-controlling interest holders 85% of any tax benefits that the Company may actually realize, or deemed to realize, from (i) increases in the Company's share of the tax basis of SSE Holdings due to redemptions or exchanges of LLC Interests, (ii) tax basis increases resulting from payments made under the Tax Receivable Agreement, and (iii) deductions from imputed interest under the agreement (the "TRA Payments"). The Company expects to benefit from the remaining 15% of any realized tax benefits. The TRA Payments are not conditioned upon any continued ownership interest in SSE Holdings or us. Additionally, the rights of each non-controlling interest holder under the Tax Receivable Agreement, are assignable to transferees of its LLC Interests.
During fiscal 2024, the Company acquired a total of 378,800 LLC Interests in connection with the redemption of LLC Interests, which led to an increase in the tax basis of its investment in SSE Holdings subject to the provisions of the Tax Receivable Agreement. The Company recognized an additional asset of $10,985 for the TRA Payments due to the redeeming members, representing 85% of the aggregate tax benefits the Company expects to realize from the tax basis increases related to the redemption of LLC Interests. This estimate was based on our conclusion that it was probable that such TRA Payments would be made, considering our projections of future taxable income. No payments were made to the members of SSE Holdings pursuant to the Tax Receivable Agreement in fiscal 2024 and fiscal 2023. As of December 25, 2024, the total amount of TRA Payments due under the Tax Receivable Agreement was $247,734, of which $717 amount was included in Other current liabilities on the Consolidated Balance Sheets.
v3.25.0.1
EARNINGS (LOSS) PER SHARE
 12 Months Ended
Dec. 25, 2024
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE EARNINGS (LOSS) PER SHARE
Basic earnings (loss) per share of Class A common stock is computed by dividing Net income (loss) attributable to Shake Shack Inc. by the weighted average number of shares of Class A common stock outstanding during the period. Diluted earnings (loss) per share of Class A common stock is computed by dividing Net income (loss) attributable to Shake Shack Inc. by the weighted average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities.
The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings (loss) per share of Class A common stock (in thousands, except per share amounts):
202420232022
Numerator:
Net income (loss) attributable to Shake Shack Inc.—basic$10,207 $20,264 $(21,229)
Reallocation of net income attributable to non-controlling interests from the assumed conversion of Class B shares613 726 — 
Net income (loss) attributable to Shake Shack Inc.—diluted$10,820 $20,990 $(21,229)
Denominator:
Weighted average shares of Class A common stock outstanding—basic39,830 39,419 39,237 
Effect of dilutive securities:
Stock options52 75 — 
Performance stock units69 11 — 
Restricted stock units173 85 — 
Convertible Notes1,467 1,467 — 
Shares of Class B common stock2,612 2,842 — 
Weighted average shares of Class A common stock outstanding—diluted44,203 43,899 39,237 
Earnings (loss) per share of Class A common stock—basic$0.26 $0.51 $(0.54)
Earnings (loss) per share of Class A common stock—diluted$0.24 $0.48 $(0.54)
The effect of potential share settlement of the Convertible Notes outstanding for the period is included as potentially dilutive shares of Class A common stock under application of the if-converted method in the computation of diluted earnings (loss) per share, except when the effect would be anti-dilutive. Refer to Note 8, Debt, for additional information.
Shares of Class B common stock do not share in the earnings or losses of Shake Shack and are therefore not participating securities. As such, separate presentation of basic and diluted earnings (loss) per share of Class B common stock under the two-class method has not been presented. However, shares of Class B common stock outstanding for the period are considered potentially dilutive shares of Class A common stock under application of the if-converted method and are included in the computation of diluted earnings (loss) per share, except when the effect would be anti-dilutive.
The following table presents potentially dilutive securities excluded from the computations of diluted earnings (loss) per share of Class A common stock:
202420232022
Stock options— — 134,031 (2)
Performance stock units50,556 (1)99,718 (1)159,822 (2)
Restricted stock units— — 395,853 (2)
Shares of Class B common stock— — 2,869,513 (2)
Convertible notes— — 1,466,975 (2)
(1)Number of securities outstanding at the end of the period that were excluded from the computation of diluted earnings (loss) per share of Class A common stock because the performance conditions associated with these awards were not met assuming the end of the reporting period was the end of the performance period.
(2)Number of securities outstanding at the end of the period that were excluded from the computation of diluted earnings (loss) per share of Class A common stock because the effect would have been anti-dilutive.
v3.25.0.1
SUPPLEMENTAL CASH FLOW INFORMATION
 12 Months Ended
Dec. 25, 2024
Cash and Cash Equivalents [Abstract]  
SUPPLEMENTAL CASH FLOW INFORMATION SUPPLEMENTAL CASH FLOW INFORMATION
The following table sets forth supplemental cash flow information:
202420232022
Cash paid for:
Income taxes, net of refunds$6,531 $4,056 $3,731 
Interest, net of amounts capitalized882 537 252 
Non-cash investing activities:
Accrued purchases of property and equipment19,226 24,999 26,591 
Capitalized equity-based compensation217 181 126 
Non-cash financing activities:
Establishment of liabilities under Tax Receivable Agreement
12,121 720 844 
v3.25.0.1
COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Dec. 25, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Lease Commitments
The Company is obligated under various operating leases for Shacks and the home office space, expiring in various years through 2045. Under certain of these leases, the Company is liable for contingent rent based on a percentage of sales in excess of specified thresholds and typically responsible for its proportionate share of real estate taxes, common area maintenance costs and other occupancy costs. Refer to Note 9, Leases, for additional information.
Certain leases require the Company to obtain letters of credit. As of December 25, 2024, the Company held three letters of credit, one for $402, which expires in August 2025 and renews automatically for one-year periods through January 2034, one for $163, which expires in December 2024 and renews automatically for one-year periods through December 2029, and one for $130, which expires in February 2026.
Purchase Commitments
Purchase obligations include legally binding contracts, including commitments for the purchase, construction or remodeling of real estate and facilities, firm minimum commitments for inventory purchases, equipment purchases, marketing-related contracts, software acquisition/license commitments and service contracts. These obligations are generally short-term in nature and are recorded as liabilities when the related goods are received or services rendered. The Company also enters into long-term, exclusive contracts with certain vendors to supply food, beverages and paper goods, obligating the Company to purchase specified quantities.
Legal Contingencies
The Company is subject to various legal proceedings, claims and liabilities, involving employees and guests alike, which arise in the ordinary course of business and are generally covered by insurance. As of December 25, 2024, the amount of the ultimate liability with respect to these matters was not material.
Liabilities under Tax Receivable Agreement
The Company is a party to the Tax Receivable Agreement under which it is contractually committed to pay certain of the members of SSE Holdings 85% of the amount of any tax benefits that are actually realized, or in some cases are deemed to realize, as a result of certain transactions. The Company is not obligated to make any payments under the Tax Receivable
Agreement until the tax benefits associated with the transactions that gave rise to the payments are realized. Refer to Note 14, Income Taxes, for additional information relating to the Tax Receivable Agreement.
v3.25.0.1
RELATED PARTY TRANSACTIONS
 12 Months Ended
Dec. 25, 2024
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
Union Square Hospitality Group
The Chairman of the Board of Directors serves as the Executive Chairman of Union Square Hospitality Group, LLC. As a result, Union Square Hospitality Group, LLC and its subsidiary, set forth below, are considered related parties.
Hudson Yards Sports and Entertainment
In fiscal 2011, Shake Shack entered into a Master License Agreement (as amended, "MLA") with Hudson Yards Sports and Entertainment LLC ("HYSE") to operate Shake Shack branded limited menu concession stands in sports and entertainment venues within the United States. In February 2019, the agreement was assigned to Hudson Yards Catering ("HYC"), the parent of HYSE. The agreement expires in January 2027 and includes five consecutive five-year renewal options at HYC's option. As consideration for these rights, HYC pays the Company a license fee based on a percentage of net food sales, as defined in the MLA. HYC also pays a percentage of profits on sales of branded beverages, as defined in the MLA.
Classification202420232022
Amounts received from HYCLicensing revenue$926 $988 $802 
ClassificationDecember 25
2024		December 27
2023
Amounts due from HYCAccounts receivable, net$73 $57 
Madison Square Park Conservancy
The Chairman of the Board of Directors serves as a director of the Madison Square Park Conservancy ("MSP Conservancy"), with which Shake Shack has a license agreement and pays license fees to operate the Madison Square Park Shack. No payments were due to MSP Conservancy as of December 25, 2024 and December 27, 2023.
Classification202420232022
Amounts paid to MSP Conservancy
Occupancy and related expenses
$937 $898 $1,224 
Olo, Inc.
The Chairman of the Board of Directors serves as a director of Olo, Inc., a platform the Company uses in connection with its mobile ordering application.
Classification202420232022
Amounts paid to Olo, Inc.Other operating expenses$838 $595 $431 
ClassificationDecember 25
2024		December 27
2023
Amounts due to Olo, Inc.
Accounts payable
Accrued expenses
$227 $116 
Block, Inc.
The Company's former Chief Executive Officer is a member of the board of directors of Block, Inc. (formerly known as "Square, Inc."). The Company currently uses certain point-of-sale applications, payment processing services, hardware and other enterprise platform services in connection with its kiosk technology, sales for certain off-site events and the processing of a limited amount of sales at certain locations.
Classification202420232022
Amounts paid to Block, Inc.Other operating expenses$12,119 $8,688 $4,337 
ClassificationDecember 25
2024		December 27
2023
Amounts due to Block, Inc.Accounts payable
Accrued expenses		$— $59 
Tax Receivable Agreement
The Company entered into a Tax Receivable Agreement that provides for the payment by the Company of 85% of the amount of any tax benefits that are actually realized, or in some cases are deemed to realize, as a result of certain transactions. Refer to Note 14, Income Taxes, for additional information. No payments were made to the members of SSE Holdings pursuant to the Tax Receivable Agreement during fiscal 2024, fiscal 2023 and fiscal 2022.
ClassificationDecember 25
2024		December 27
2023
Amounts due under the Tax Receivable AgreementOther current liabilities
Liabilities under Tax Receivable Agreement, net of current portion		$247,734 $235,613 
Distributions to Members of SSE Holdings
Under the terms of the SSE Holdings LLC Agreement, SSE Holdings is obligated to make tax distributions to its members. No tax distributions were payable to non-controlling interest holders as of December 25, 2024 and December 27, 2023, respectively.
Classification202420232022
Amounts paid to non-controlling interest holdersNon-controlling interests$482 $162 $410 
v3.25.0.1
SEGMENT REPORTING
 12 Months Ended
Dec. 25, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
Shake Shack operates and licenses Shake Shack restaurants, which serve burgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine and more. The Company operates Shacks in the United States and has both domestic and international licensed Shacks.
The chief operating decision maker (the "CODM") is the Chief Executive Officer. The Company determined it has one operating segment and one reportable segment, as the CODM regularly reviews Shack operations and financial performance at a consolidated level. The CODM also allocates resources at a consolidated level.
The CODM uses net income to allocate resources (including labor, technology, and capital resources) for the single segment to make decisions regarding annual budget, new Shack openings, entering new geographic markets, landlord and vendor negotiations, marketing decisions, pursuing new business ventures, and driving the Company's mission.
202420232022
Segment revenue(1)
$1,252,608 $1,087,533 $900,486 
Less:
Food and paper costs339,940 305,041 261,584 
Labor and related expenses338,750 304,254 257,358 
Other operating expenses(2)
178,381 149,449 129,650 
Occupancy and related expenses93,069 79,846 68,508 
General and administrative expenses
149,047 129,542 120,009 
Depreciation and amortization expense102,468 91,242 72,796 
Pre-opening costs15,547 19,231 15,050 
Impairments, loss on disposal of assets, and Shack closures32,368 3,007 2,425 
Interest expense2,045 1,717 1,518 
Income tax expense (benefit)3,424 (4,010)(1,180)

Other (income) loss, net(3)
(13,251)(12,776)(4,127)
Segment income (loss)
10,820 20,990 (23,105)
Reconciliation of profit or loss:
Adjustments and reconciling items— — — 
Consolidated net income (loss)
$10,820 $20,990 $(23,105)
December 25
2024		December 27
2023
Total Assets$1,696,971 $1,605,857 
(1)Refer to Note 20, for geographic information and breakdown of revenue and long-lived assets by geographic area.
(2)Other operating expenses consist of delivery commissions, Shack-level marketing expenses, repairs and maintenance, utilities, and other operating expenses incidental to operating our Company-operated Shacks, such as non-perishable supplies, credit card fees and property insurance.
(3)Other income, net includes net unrealized and realized gains and losses from marketable securities, dividend and interest income, and adjustments to liabilities under the Tax Receivable Agreement. Interest income was $640, $2,390 and nil, respectively for the fifty-two weeks ended December 25, 2024, December 27, 2023 and December 28, 2022.
GEOGRAPHIC INFORMATION
Revenue by geographic area was as follows:
202420232022
United States$1,219,356 $1,056,753 $875,047 
Other countries33,252 30,780 25,439 
Total revenue$1,252,608 $1,087,533 $900,486 
Revenues are shown based on the geographic location of the Company's customers and licensees. The Company's long-lived assets are primarily located in the United States.
v3.25.0.1
GEOGRAPHIC INFORMATION
 12 Months Ended
Dec. 25, 2024
Segment Reporting [Abstract]  
GEOGRAPHIC INFORMATION SEGMENT REPORTING
Shake Shack operates and licenses Shake Shack restaurants, which serve burgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine and more. The Company operates Shacks in the United States and has both domestic and international licensed Shacks.
The chief operating decision maker (the "CODM") is the Chief Executive Officer. The Company determined it has one operating segment and one reportable segment, as the CODM regularly reviews Shack operations and financial performance at a consolidated level. The CODM also allocates resources at a consolidated level.
The CODM uses net income to allocate resources (including labor, technology, and capital resources) for the single segment to make decisions regarding annual budget, new Shack openings, entering new geographic markets, landlord and vendor negotiations, marketing decisions, pursuing new business ventures, and driving the Company's mission.
202420232022
Segment revenue(1)
$1,252,608 $1,087,533 $900,486 
Less:
Food and paper costs339,940 305,041 261,584 
Labor and related expenses338,750 304,254 257,358 
Other operating expenses(2)
178,381 149,449 129,650 
Occupancy and related expenses93,069 79,846 68,508 
General and administrative expenses
149,047 129,542 120,009 
Depreciation and amortization expense102,468 91,242 72,796 
Pre-opening costs15,547 19,231 15,050 
Impairments, loss on disposal of assets, and Shack closures32,368 3,007 2,425 
Interest expense2,045 1,717 1,518 
Income tax expense (benefit)3,424 (4,010)(1,180)

Other (income) loss, net(3)
(13,251)(12,776)(4,127)
Segment income (loss)
10,820 20,990 (23,105)
Reconciliation of profit or loss:
Adjustments and reconciling items— — — 
Consolidated net income (loss)
$10,820 $20,990 $(23,105)
December 25
2024		December 27
2023
Total Assets$1,696,971 $1,605,857 
(1)Refer to Note 20, for geographic information and breakdown of revenue and long-lived assets by geographic area.
(2)Other operating expenses consist of delivery commissions, Shack-level marketing expenses, repairs and maintenance, utilities, and other operating expenses incidental to operating our Company-operated Shacks, such as non-perishable supplies, credit card fees and property insurance.
(3)Other income, net includes net unrealized and realized gains and losses from marketable securities, dividend and interest income, and adjustments to liabilities under the Tax Receivable Agreement. Interest income was $640, $2,390 and nil, respectively for the fifty-two weeks ended December 25, 2024, December 27, 2023 and December 28, 2022.
GEOGRAPHIC INFORMATION
Revenue by geographic area was as follows:
202420232022
United States$1,219,356 $1,056,753 $875,047 
Other countries33,252 30,780 25,439 
Total revenue$1,252,608 $1,087,533 $900,486 
Revenues are shown based on the geographic location of the Company's customers and licensees. The Company's long-lived assets are primarily located in the United States.
v3.25.0.1
SCHEDULE I: CONDENSED FINANCIAL INFORMATION OF REGISTRANT
 12 Months Ended
Dec. 25, 2024
Condensed Financial Information Disclosure [Abstract]  
SCHEDULE I: CONDENSED FINANCIAL INFORMATION OF REGISTRANT
SHAKE SHACK INC.
CONDENSED BALANCE SHEETS
(PARENT COMPANY ONLY)
(in thousands, except share and per share amounts)
December 25
2024		December 27
2023
ASSETS
Current assets:
Cash$9,271 $6,672 
Prepaid expenses1,405 63 
Total current assets10,676 6,735 
Deferred income taxes, net336,588 328,870 
Investment in SSE Holdings390,184 362,296 
Note receivable from SSE Holdings 224,879 216,946 
Note receivable - conversion option33,500 12,900 
Due from SSE Holdings9,695 8,213 
TOTAL ASSETS$1,005,522 $935,960 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable— 146 
Accrued expenses87 621 
Due to SSE Holdings32,482 22,027 
Other current liabilities
717 — 
Total current liabilities33,286 22,794 
Long-term debt246,683 245,636 
Liabilities under tax receivable agreement, net of current portion247,017 235,613 
Total liabilities526,986 504,043 
Commitments and contingencies
Stockholders' equity:
Preferred stock, no par value—10,000,000 shares authorized; none issued and outstanding as of December 25, 2024 and December 27, 2023.— — 
Class A common stock, $0.001 par value—200,000,000 shares authorized; 40,068,068 and 39,474,315 shares issued and outstanding as of December 25, 2024 and December 27, 2023, respectively.40 39 
Class B common stock, $0.001 par value—35,000,000 shares authorized; 2,455,713 and 2,834,513 shares issued and outstanding as of December 25, 2024 and December 27, 2023, respectively.2 3 
Additional paid-in capital442,993 426,601 
Retained earnings35,502 5,277 
Accumulated other comprehensive loss
(1)(3)
Total stockholders' equity478,536 431,917 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$1,005,522 $935,960 
See accompanying Notes to Condensed Financial Statements.
SHAKE SHACK INC.
CONDENSED STATEMENTS OF INCOME (LOSS)
(PARENT COMPANY ONLY)
(in thousands)
Fiscal Year Ended
December 25
2024		December 27
2023		December 28
2022
Intercompany revenue$6,476 $7,971 $2,293 
TOTAL REVENUE6,476 7,971 2,293 
General and administrative expenses5,647 6,663 3,132 
Intercompany expenses45 54 67 
TOTAL EXPENSES5,692 6,717 3,199 
INCOME (LOSS) FROM OPERATIONS784 1,254 (906)
Equity in net income (loss) from SSE Holdings8,558 10,091 (25,335)
Other income (expense), net28,533 14,533 (1,767)
Interest expense(1,047)(1,047)(1,047)
INCOME (LOSS) BEFORE INCOME TAXES36,828 24,831 (29,055)
Income tax expense (benefit)6,603 (5,203)(5,783)
NET INCOME (LOSS)$30,225 $30,034 $(23,272)
See accompanying Notes to Condensed Financial Statements.
SHAKE SHACK INC.
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(PARENT COMPANY ONLY)
(in thousands)
Fiscal Year Ended
December 25
2024		December 27
2023		December 28
2022
Net income (loss)$30,225 $30,034 $(23,272)
Other comprehensive income (loss), net of tax(1):
Change in foreign currency translation adjustment2 (3)(1)
OTHER COMPREHENSIVE INCOME (LOSS)2 (3)(1)
COMPREHENSIVE INCOME (LOSS)$30,227 $30,031 $(23,273)
(1)Net of tax benefit of $0 for fiscal years ended December 25, 2024, December 27, 2023 and December 28, 2022.
See accompanying Notes to Condensed Financial Statements.
SHAKE SHACK INC.
CONDENSED STATEMENTS OF CASH FLOWS
(PARENT COMPANY ONLY)
(in thousands)
Fiscal Year Ended
December 25
2024		December 27
2023		December 28
2022
OPERATING ACTIVITIES
Net income (loss)$30,225 $30,034 $(23,272)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Equity in net (income) loss from SSE Holdings(8,558)(10,091)25,335 
Amortization of debt issuance costs1,047 1,047 1,047 
Equity-based compensation920 894 614 
Deferred income taxes6,606 (5,249)(5,783)
(Gain) loss on note receivable - conversion option(20,600)(6,600)9,700 
Other non-cash income(7,933)(7,933)(7,934)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets(1,342)(1)2 
Due (to) from SSE Holdings1,153 (3,944)(728)
Accounts payable(146)107 30 
Accrued expenses(395)515 (103)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES977 (1,221)(1,092)
INVESTING ACTIVITIES
Purchases of LLC Interests from SSE Holdings(27,618)(11,731)(7,619)
NET CASH USED IN INVESTING ACTIVITIES(27,618)(11,731)(7,619)
FINANCING ACTIVITIES
Proceeds from issuance of Class A common stock to SSE Holdings upon settlement of equity awards27,618 11,731 7,619 
Proceeds from stock option exercises1,620 744 424 
NET CASH PROVIDED BY FINANCING ACTIVITIES29,238 12,475 8,043 
Effect of exchange rate changes on cash and cash equivalents
2 (3)(1)
INCREASE (DECREASE) IN CASH2,599 (480)(669)
CASH AT BEGINNING OF PERIOD6,672 7,152 7,821 
CASH AT END OF PERIOD$9,271 $6,672 $7,152 
See accompanying Notes to Condensed Financial Statements.
NOTE 1: ORGANIZATION
Shake Shack Inc. (the "Parent Company") was formed on September 23, 2014 as a Delaware corporation and is a holding company with no direct operations. The Parent Company's assets consist primarily of its equity interest in SSE Holdings, LLC ("SSE Holdings"), certain deferred tax assets and its note receivable from SSE Holdings.
The Parent Company's cash inflows are primarily from cash dividends or distributions and other transfers from SSE Holdings. The amounts available to the Parent Company to fulfill cash commitments and pay cash dividends on its common stock are subject to certain restrictions in SSE Holdings' Revolving Credit Facility. Refer to Note 8, Debt, in the accompanying Consolidated Financial Statements, for additional information.
BASIS OF PRESENTATION
These Condensed Parent Company financial statements should be read in conjunction with the Consolidated Financial Statements of Shake Shack Inc. and the accompanying notes thereto, included in Part II, Item 8. For purposes of these condensed financial statements, the Parent Company's interest in SSE Holdings is recorded based upon its proportionate share of SSE Holdings' net assets (similar to presenting them on the equity method).
The Parent Company is the sole managing member of SSE Holdings, and pursuant to the Third Amended and Restated LLC Agreement of SSE Holdings (the “SSE Holdings LLC Agreement”), receives compensation in the form of reimbursements for all costs associated with being a public company and maintaining its existence. Intercompany revenue consists of these reimbursement payments and is recognized when the corresponding expense to which it relates is recognized. Certain intercompany balances presented in these Condensed Parent Company financial statements are eliminated in the Company's Consolidated Financial Statements.
The following table presents amounts in the Parent Company's Condensed Balance Sheets that were eliminated in consolidation:
December 25
2024		December 27
2023
Assets
Due from SSE Holdings$9,695 $8,213 
Deferred income taxes, net(3,177)4,289 
Note receivable from SSE Holdings224,879 216,946 
Note receivable - conversion option33,500 12,900 
Liabilities
Due to SSE Holdings32,482 22,027 

Related party amounts that were not eliminated in the Company's Consolidated Financial Statements include the Parent Company's liabilities under the tax receivable agreement, which totaled $247,734 and $235,613, respectively as of December 25, 2024 and December 27, 2023.
The following table presents amounts in the Parent Company's Condensed Statements of Income (Loss) that were eliminated in consolidation:
202420232022
Intercompany revenue$6,476 $7,971 $2,293 
Equity in net income (loss) from SSE Holdings8,558 10,091 (25,335)
Other income (expense), net28,533 14,533 (1,767)
Income tax expense (benefit)
7,466 3,715 (769)
NOTE RECEIVABLE FROM SSE HOLDINGS
In March 2021, contemporaneously with the issuance of the Convertible Notes described in Note 4, Debt, below, the Parent Company entered into a $250,000 intercompany note with SSE Holdings (the "Intercompany Note"). The Intercompany Note will mature in March 2028 unless the Parent Company exercises its right to convert the Intercompany Note to maintain at all times a one-to-one ratio between the number of common units, directly or indirectly, held by the Parent Company and the aggregate number of outstanding shares of Class A common stock. As of December 25, 2024 and December 27, 2023, the balance of the Note receivable from SSE Holdings was $224,879 and $216,946, respectively, net of accretion.
The Parent Company's right to convert the Intercompany Note into common units of SSE Holdings (the "Conversion Option") is required to be bifurcated from the Intercompany Note and shown separately on the Parent Company's Condensed Balance Sheets. The Conversion Option is to be recorded at fair value and remeasured at each subsequent reporting date. As of December 25, 2024 and December 27, 2023, the fair value of the Conversion Option was $33,500 and $12,900, respectively.
The following table presents amounts in the Parent Company's Condensed Statements of Income (Loss) related to the change in value and accretion on the Conversion Option:
Classification202420232022
Unrealized gain (loss)
Other income (expense), net
$20,600 $6,600 $(9,700)
Interest income
Other income (expense), net
$7,933 $7,933 $7,933 
DEBT
In March 2021, the Parent Company issued $250,000 aggregate principal amount of 0% Convertible Senior Notes (“Convertible Notes”) which will mature on March 1, 2028, unless earlier converted, redeemed or repurchased in certain circumstances. Upon conversion, the Parent Company pays or delivers, as the case may be, cash, shares of Class A common stock or a combination of cash and shares of Class A common stock, at the Company's election. Refer to Note 8, Debt, in the accompanying Consolidated Financial Statements, for additional information.
COMMITMENTS AND CONTINGENCIES
On February 4, 2015, the Parent Company entered into a tax receivable agreement with the non-controlling interest holders that provides for payments to the non-controlling interest holders of 85% of the amount of any tax benefits that the Parent Company actually realizes, or in some cases is deemed to realize, as a result of certain transactions. Refer to Note 14, Income Taxes,in the accompanying Consolidated Financial Statements, for additional information relating to the Parent Company's Tax Receivable Agreement. As described in Note 14, Income Taxes, in the accompanying Consolidated Financial Statements, the Company is obligated to pay the non-controlling interest holders 85% of any tax benefits that the Company may actually realize, or deemed to realize, from (i) increases in the Company's share of the tax basis of SSE Holdings due to redemptions or exchanges of LLC Interests, (ii) tax basis increases resulting from payments made under the Tax Receivable Agreement, and (iii) deductions from imputed interest under the agreement (the "TRA Payments"). As of December 25, 2024 and December 27, 2023, liabilities under the Tax Receivable Agreement totaled $247,734 and $235,613, respectively.
SUPPLEMENTAL CASH FLOW INFORMATION
The following table sets forth supplemental cash flow information:
202420232022
Cash paid for:
Income taxes$832 $9 $— 
Non-cash investing activities:
Accrued contribution related to stock option exercises1,625 744 424 
Class A common stock issued in connection with the acquisition of LLC Interests upon redemption by the non-controlling interest holders3,517 265 313 
Non-cash contribution made in connection with equity awards granted to employees of SSE Holdings20,406 10,305 6,988 
Non-cash financing activities:
Establishment of liabilities under tax receivable agreement12,121 720 844 
v3.25.0.1
SCHEDULE II: VALUATION AND QUALIFYING ACCOUNTS
 12 Months Ended
Dec. 25, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
SCHEDULE II: VALUATION AND QUALIFYING ACCOUNTS
Schedule II: Valuation and Qualifying Accounts
Balance at beginning of periodAdditionsBalance at end of period
(in thousands)Charged to costs and expensesCharged to other accounts
Deferred tax asset valuation allowance:
Fiscal year ended December 28, 2022$5,173 $4,955 $(568)(1)$9,560 
Fiscal year ended December 27, 2023$9,560 $(9,203)$— $357 
Fiscal year ended December 25, 2024$357 $(97)$— $260 
(1)Amount relates to a valuation allowance established on deferred tax assets related to our investment in SSE Holdings.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Pay vs Performance Disclosure      
Net income (loss) attributable to Shake Shack Inc. $ 10,207 $ 20,264 $ (21,229)
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended 12 Months Ended
Dec. 25, 2024
shares
Dec. 25, 2024
shares
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
Pursuant to Item 408(a) of Regulation S-K, our directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted, terminated, or modified a “Rule 10b5-1 trading arrangement” in the fiscal quarter ended December 25, 2024 as follows:
Name
Position
Action
Adoption Date
Expiration Date
Aggregate Numbers of Class A Common Stock to be Purchased/Sold
Daniel MeyerChairman of the Board of DirectorsAdoption11/15/20248/29/2025
100,000 shares to be sold
Non-Rule 10b5-1 Arrangement Adopted false  
Rule 10b5-1 Arrangement Terminated false  
Non-Rule 10b5-1 Arrangement Terminated false  
Daniel Meyer [Member]    
Trading Arrangements, by Individual    
Name Daniel Meyer  
Title Chairman of the Board of Directors  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date 11/15/2024  
Expiration Date 8/29/2025  
Arrangement Duration 266 days  
Aggregate Available 100,000 100,000
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 25, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 25, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. Our cybersecurity risk management program includes a cybersecurity incident response plan.
Our cybersecurity risk management program is informed by the National Institute of Standards and Technology (‘NIST’) Cybersecurity Framework (‘CSF’) and incorporates its principles in assessing, identifying, and managing cybersecurity risks relevant to our business. While we leverage the NIST CSF as a foundational guide, our program is tailored to our specific operational and risk environment.
Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas.
Our cybersecurity risk management program includes:
▪Risk assessments designed to help identify material cybersecurity risks to our critical systems, information, products, services, and our broader enterprise IT environment;
▪A security team led by our Chief Information and Technology Officer principally responsible for managing our (1) cybersecurity risk assessment processes, (2) security controls, and (3) response to cybersecurity incidents;
▪the use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security controls and designed to anticipate cyber-attacks and prevent breaches;
▪cybersecurity awareness training of our employees, incident response personnel, and senior management;
▪a cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents; and
▪a structured third-party risk management program that includes due diligence, contractual security requirements, and continuous monitoring for service providers, suppliers, and vendors to mitigate risks associated with external partnerships..
Cybersecurity risks are actively monitored through continuous security assessments, real-time threat intelligence, and adaptive security controls, enable proactive adjustments to our security program as threats evolve. As part of our ongoing cybersecurity risk management program, we have from time-to-time identified risks or threats to our digital and corporate systems, including attempts to obtain team member credentials through bot and phishing attacks or through social engineering. While these risks and threats, as well as others we identify, require active and ongoing efforts to mitigate, we have not currently identified any prior cybersecurity incidents, that have materially affected or are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. Our cybersecurity risk management program includes a cybersecurity incident response plan.
Our cybersecurity risk management program is informed by the National Institute of Standards and Technology (‘NIST’) Cybersecurity Framework (‘CSF’) and incorporates its principles in assessing, identifying, and managing cybersecurity risks relevant to our business. While we leverage the NIST CSF as a foundational guide, our program is tailored to our specific operational and risk environment.
Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Our Board considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee oversight of cybersecurity and other information technology risks. The Audit Committee oversees management’s implementation of our cybersecurity risk management program, including reviewing risk assessments from management with respect to our information technology systems and procedures, and overseeing our cybersecurity risk management processes.
The Audit Committee receives quarterly reports from management on our cybersecurity risks. In addition, management will update the Audit Committee, as necessary, regarding cybersecurity incidents, that we may experience.
The Audit Committee reports to the full Board regarding its activities, including those related to cybersecurity. The full Board also receives briefings from management on our cyber risk management program. Board members receive presentations on cybersecurity topics from our Chief Information and Technology Officer ("CITO"), who has been designated as our Chief Information Security Officer ("CISO"), internal security staff or external experts as part of the Board’s continuing education on topics that impact public companies.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
Our Board considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee oversight of cybersecurity and other information technology risks. The Audit Committee oversees management’s implementation of our cybersecurity risk management program, including reviewing risk assessments from management with respect to our information technology systems and procedures, and overseeing our cybersecurity risk management processes.
The Audit Committee receives quarterly reports from management on our cybersecurity risks. In addition, management will update the Audit Committee, as necessary, regarding cybersecurity incidents, that we may experience.
The Audit Committee reports to the full Board regarding its activities, including those related to cybersecurity. The full Board also receives briefings from management on our cyber risk management program. Board members receive presentations on cybersecurity topics from our Chief Information and Technology Officer ("CITO"), who has been designated as our Chief Information Security Officer ("CISO"), internal security staff or external experts as part of the Board’s continuing education on topics that impact public companies.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Audit Committee receives quarterly reports from management on our cybersecurity risks. In addition, management will update the Audit Committee, as necessary, regarding cybersecurity incidents, that we may experience.
The Audit Committee reports to the full Board regarding its activities, including those related to cybersecurity. The full Board also receives briefings from management on our cyber risk management program. Board members receive presentations on cybersecurity topics from our Chief Information and Technology Officer ("CITO"), who has been designated as our Chief Information Security Officer ("CISO"), internal security staff or external experts as part of the Board’s continuing education on topics that impact public companies.
Cybersecurity Risk Role of Management [Text Block]
Our management team, including our CITO, is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Our cybersecurity risk management is led by our CITO, who has extensive experience in cybersecurity, information risk management, digital innovation, technology transformation, operations, and regulatory compliance. The CITO is supported by dedicated security professionals and external advisors to ensure a comprehensive and adaptive security strategy.
Our management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the IT environment.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our management team, including our CITO, is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Our cybersecurity risk management is led by our CITO, who has extensive experience in cybersecurity, information risk management, digital innovation, technology transformation, operations, and regulatory compliance. The CITO is supported by dedicated security professionals and external advisors to ensure a comprehensive and adaptive security strategy.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our cybersecurity risk management is led by our CITO, who has extensive experience in cybersecurity, information risk management, digital innovation, technology transformation, operations, and regulatory compliance.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
The Audit Committee receives quarterly reports from management on our cybersecurity risks. In addition, management will update the Audit Committee, as necessary, regarding cybersecurity incidents, that we may experience.
The Audit Committee reports to the full Board regarding its activities, including those related to cybersecurity. The full Board also receives briefings from management on our cyber risk management program. Board members receive presentations on cybersecurity topics from our Chief Information and Technology Officer ("CITO"), who has been designated as our Chief Information Security Officer ("CISO"), internal security staff or external experts as part of the Board’s continuing education on topics that impact public companies.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Dec. 25, 2024
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and include the accounts of Shake Shack Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Certain reclassifications have been made to prior period amounts to conform to the current year presentation.
SSE Holdings is considered a variable interest entity. Shake Shack Inc. is the primary beneficiary as the Company has the majority economic interest in SSE Holdings and, as the sole managing member, has decision making authority that significantly affects the economic performance of the entity, while the limited partners have no substantive kick-out or participating rights. As a result, the Company consolidates SSE Holdings. The assets and liabilities of SSE Holdings represent substantially all of the Company's consolidated assets and liabilities with the exception of certain deferred taxes and liabilities under the Tax Receivable Agreement. As of December 25, 2024 and December 27, 2023, the net assets of SSE Holdings were $413,793 and $388,250, respectively. The assets of SSE Holdings are subject to certain restrictions in SSE Holdings' revolving credit agreement. Refer to Note 8, Debt, and Note 14, Income Taxes, for additional information.
Fiscal Year
Fiscal Year
The Company operates on a 52/53 week fiscal year ending on the last Wednesday of December. Fiscal 2024 contained 52 weeks and ended on December 25, 2024 ("fiscal 2024"). Fiscal 2023 contained 52 weeks and ended on December 27, 2023 ("fiscal 2023"). Fiscal 2022 contained 52 weeks and ended on December 28, 2022 ("fiscal 2022"). Unless otherwise stated, references to years in this report relate to fiscal years.
Use of Estimates
Use of Estimates
The preparation of these Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of sales and expenses during the reporting period. Actual results could differ from those estimates.
Fair Value Measurements
Fair Value Measurements
The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. Assets and liabilities are categorized based on the priority of the inputs to the valuation technique into a three-level fair value hierarchy as set forth below.
▪Level 1 — Quoted prices in active markets for identical assets or liabilities.
▪Level 2 — Observable inputs other than quoted prices in active markets for identical assets or liabilities, quoted prices for identical assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability.
▪Level 3 — Inputs that are both unobservable and significant to the overall fair value measurements reflecting an entity's estimates of assumptions that market participants would use in pricing the asset or liability.
Cash and Cash Equivalents
Cash and Cash Equivalents
Cash and cash equivalents consist primarily of cash on hand, deposits with banks, money market funds and short-term, highly liquid investments that have original maturities of three months or less. Cash equivalents are stated at cost, which approximates fair value.
Marketable Securities
Marketable Securities
Marketable securities classified as held-to-maturity securities consist of U.S. Treasuries for which the Company has the ability and intent to hold to maturity and are reported at amortized cost, net of a valuation allowance for credit losses. Interest income and the amortization of discounts and premiums are recorded in Other income, net on the Consolidated Statements of Income (Loss). No expected credit losses were recognized as of December 25, 2024 and December 27, 2023.
Accounts Receivable, Net
Accounts Receivable, Net
Accounts receivable, net consist primarily of receivables from our licensees for licensing revenue and related reimbursements, credit card receivables and vendor rebates. The collectability of accounts receivable is evaluated based on a variety of factors, including historical experience, current economic conditions and other factors.
Inventories
Inventories
Inventories, which consist of food, paper goods, beverages, beer, wine and retail merchandise, are valued at the lower of weighted average cost or net realizable value. No adjustment is deemed necessary to reduce inventory to net realizable value due to the rapid turnover and high utilization of inventory.
Property and Equipment, Net And Valuation of Long-lived Assets
Property and Equipment, Net
Property and equipment, net is stated at historical cost less accumulated depreciation. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the assets, which generally range from five to seven years for equipment, furniture and fixtures, and two to five years for computer equipment and software. Leasehold improvements are depreciated over the shorter of their estimated useful lives or the related lease terms.
Costs incurred when constructing Shacks are capitalized. The cost of repairs and maintenance are expensed when incurred. Costs for refurbishments and improvements that significantly increase the productive capacity or extend the useful life of the assets are capitalized. When assets are disposed, the resulting gain or loss is recognized in Impairments, loss on disposal of assets, and Shack closures on the Consolidated Statements of Income (Loss).
Valuation of Long-lived Assets
The Company assesses potential impairments to its long-lived assets, which include property and equipment and operating and finance lease right-of-use assets, whenever events or circumstances indicate that the carrying value of an asset may not be recoverable. The recoverability evaluation is first performed at the market service area level ("MSA"). If the carrying value of the MSA exceeds its estimated undiscounted future cash flows, a secondary recoverability test is performed for all individual Shacks within the identified MSA. An impairment charge is recognized when the carrying amount of the asset exceeds the fair value of the asset, considering external market participant assumptions, and is allocated across all assets of the impaired Shack. Since
the determination of future cash flows is an estimate of future performance, there may be future impairments in the event that future cash flows do not meet expectations.
Deferred Financing Costs
Deferred Financing Costs
Deferred financing costs incurred in connection with the issuance of long-term debt and establishing credit facilities are capitalized and amortized in Interest expense on the Consolidated Statements of Income (Loss) based on the related debt agreements. Deferred financing costs are included in Other assets on the Consolidated Balance Sheets.
Other Assets
Other Assets
Other assets consist primarily of capitalized implementation costs from cloud computing arrangements, certain custom pre-ordered furniture, fixtures and equipment for future and existing Shacks, transferable liquor licenses, and security deposits.
Implementation costs associated with cloud computing arrangements hosted by third-party vendors are capitalized when incurred during the application development phase. Amortization is calculated on a straight-line basis over the contractual term of the cloud computing arrangement and is recorded within General and administrative expenses on the Consolidated Statements of Income (Loss). As of December 25, 2024 and December 27, 2023, capitalized implementation costs from cloud computing arrangements totaled $4,051 and $5,572, respectively, net of accumulated amortization.
The costs of obtaining non-transferable liquor licenses that are directly issued by local government agencies for nominal fees are expensed as incurred. The costs of purchasing transferable liquor licenses through open markets in jurisdictions with a limited number of authorized liquor licenses are capitalized as indefinite-lived intangible assets. Annual liquor license renewal fees, for both types of licenses, are expensed over the renewal term. As of December 25, 2024 and December 27, 2023, indefinite-lived intangible assets relating to transferable liquor licenses totaled $2,040 and $1,903, respectively. Indefinite-lived intangible assets are evaluated for impairment at least annually during the fourth quarter, and whenever events or circumstances indicate that an impairment may exist. When evaluating intangible assets for impairment, the Company first performs a qualitative assessment to determine whether it is more likely than not that an intangible asset group is impaired. If determined that it is more likely than not that the carrying value of the intangible asset group exceeds its fair value, the Company performs a quantitative assessment to derive the fair value of the intangible asset group. If the carrying value of the intangible asset group exceeds the estimated fair value, an impairment charge is recorded to reduce the carrying value to the estimated fair value. In addition, the Company continuously monitors and may revise the useful lives of intangible assets when facts and circumstances change.
Revenue Recognition
Revenue Recognition
Shack Sales
Revenue from Shack sales is recognized when payment is tendered at the point of sale, net of discounts, as the performance obligation has been satisfied at that time. Sales tax collected from guests is excluded from Shack sales and the obligation is included in Other current liabilities on the Consolidated Balance Sheets until the taxes are remitted to the appropriate taxing authorities.
Delivery services are fulfilled by third-party delivery partners whether ordered through the Shack app, website (collectively, "Company-owned platforms") or through third-party delivery platforms. Revenue from orders through Company-owned platforms includes delivery fees and is recognized when the delivery partner transfers the order to the guest as the Company controls the delivery. For these sales, the Company receives payment directly from the guest at the time of sale. Revenue from orders through third-party delivery platforms is recognized when the order is transferred to the third-party delivery partner and excludes delivery fees collected by the delivery partner as the Company does not control the delivery. The Company receives payment from the delivery partner subsequent to the transfer of the order and the payment terms are short-term in nature. For all delivery sales, the Company is considered the principal and recognizes revenue on a gross basis.
The Company sells gift cards which do not have expiration dates. Revenue from gift cards is recognized when gift cards are redeemed by the guest or, in the event a gift card is not expected to be redeemed, in proportion to actual redemptions of gift cards ("gift card breakage"). The gift card breakage rate is determined from historical gift card redemption patterns. Gift card breakage income for fiscal 2024, 2023, and 2022 was $413, $327 and $1,472, respectively. During fiscal 2022, the Company concluded it had accumulated a sufficient level of historical data from a large pool of homogeneous transactions to allow it to reasonably and objectively determine an estimated gift card breakage rate and the pattern of actual gift card redemptions. In accordance with ASC 250, Accounting Changes and Error Corrections, the Company concluded that this accounting change represented a change in accounting estimate. As a result, a cumulative catch-up adjustment was recorded during fiscal 2022 that resulted in $1,281 of gift card breakage income. Gift card breakage income is included in Shack sales on the Consolidated Statements of Income (Loss).
Licensing Revenue
Licensing revenue includes initial territory fees, Shack opening fees and ongoing sales-based royalty fees from licensed Shacks. Generally, the licenses granted to develop, open and operate each Shack in a specified territory are the predominant good or service transferred to the licensee and represent distinct performance obligations. Ancillary promised services, such as training and assistance during the initial opening of a Shack, are typically combined with the license and considered one performance obligation per Shack.
The Company determines the transaction price for each contract, which requires judgment as the transaction price is comprised of the initial territory fee and an estimate of the total Shack opening fees based on the estimated number of Shacks the Company expects the licensee to open. The transaction price is then allocated equally to each Shack expected to open. The performance obligation is satisfied over time, starting when a Shack opens through the end of the license term for the related Shack, therefore revenue is recognized on a straight-line basis over the license term.
Generally, payment for the initial territory fee is received upon execution of the license agreement and payment for the Shack opening fees is received either in advance of or upon opening the related Shack. These payments are initially deferred and recognized in revenue as the performance obligations are satisfied. Revenue from sales-based royalties is recognized as the related sales occur.
Equity-based Compensation
Equity-based Compensation
Equity-based compensation expense is measured based on the grant-date fair value of the awards. For awards with graded-vesting features and service conditions only, compensation expense is recognized on a straight-line basis over the total requisite service period for the entire award. For awards with graded-vesting features and a combination of service and performance conditions, compensation expense is recognized using a graded-vesting attribution method over the vesting period based on the most probable outcome of the performance conditions. For awards with cliff vesting features and a combination of service and performance conditions, compensation expense is recognized on a straight-line basis over the total requisite service period for the entire award based on the most probable outcome of the performance conditions. For awards that contain a market condition, a Monte Carlo simulation valuation model is used to calculate the grant-date fair value. The assumptions used in the valuation include expected term, volatility, risk-free interest rate, and closing price as of the valuation date. Compensation expense for awards containing a market condition is recognized ratably over the performance period regardless of whether the market condition and requisite service period are met. Actual distributed shares are calculated upon conclusion of the service and performance periods. Forfeitures are recognized as they occur for all equity awards. Equity-based compensation expense is included in General and administrative expenses and Labor and related expenses on the Consolidated Statements of Income (Loss).
Leases
Leases
Shake Shack currently leases all of its Company-operated Shacks, the home office and certain equipment under various non-cancelable lease agreements that expire on various dates through 2045. The Company evaluates contracts entered into to determine whether the contract involves the use of property or equipment, which is either explicitly or implicitly identified in the contract. The Company evaluates whether it controls the use of the asset, which is determined by assessing whether substantially all economic benefit from the use of the asset is obtained, and whether the Company has the right to direct the use of the asset. If these criteria are met, the Company has identified a lease, within the contract, and therefore a right of use asset and lease liability are recorded on the Consolidated Balance Sheets. Upon possession of a leased asset, the Company determines whether the lease is an operating or finance lease. All of the Company's real estate leases are classified as operating leases and most equipment leases are classified as finance leases.
Generally, real estate leases have initial terms ranging from 10 to 15 years and typically include two five-year renewal options. Renewal options are generally not recognized as part of the right-of-use assets and lease liabilities as it is not reasonably certain at commencement date that the Company would exercise the renewal options. Real estate leases typically contain fixed minimum rent payments and/or contingent rent payments which are based upon sales in excess of specified thresholds. When the achievement of such sales thresholds are deemed to be probable, contingent rent is accrued in proportion to the sales recognized during the period.
For operating leases, fixed lease payments are recognized as operating lease costs on a straight-line basis over the lease term and are reported in specific line items on the Consolidated Statements of Income (Loss). Lease expense incurred before a Shack opens is recorded in Pre-opening costs. Once a Company-operated Shack opens, the straight-line lease expense and contingent rent, if applicable, are recorded in Occupancy and related expenses. Many of these leases also require the Company to pay real estate taxes, common area maintenance costs and other occupancy costs which are included in Occupancy and related expenses. Finance leases are recognized in depreciation expense on a straight-line basis over the remaining lease term, along with recognition of interest expense associated with accretion of the lease liability.
For both operating and finance leases that contain lease and non-lease components, the components are combined and accounted for as a single lease component. Variable lease costs for both operating and finance leases, if any, are recognized as incurred. Leases with a term of 12 months or less are deemed short-term and are not recognized on the Consolidated Balance Sheets. Fixed lease payments for short-term leases are recognized on a straight-line basis over the lease term.
The Company calculates operating lease right-of-use assets and lease liabilities as the present value of fixed lease payments over the reasonably certain lease term beginning at the commencement date. The Company uses its incremental borrowing rate (“IBR”) in determining the present value of future lease payments as there are no explicit rates provided in the leases. The IBR used to measure the lease liability is derived from the average of the yield curves obtained from using the notching method and the recovery rate method. The most significant assumption in calculating the IBR is the Company's credit rating and is subject to judgment. The credit rating used to develop the IBR is determined by utilizing the credit ratings of other public companies with similar financial information as SSE Holdings.
The Company expends cash for leasehold improvements to build out and equip leased properties. Generally, a portion of the leasehold improvements and building costs are reimbursed by the landlords through landlord incentives pursuant to agreed-upon terms in the lease agreements. Landlord incentives usually take the form of cash, full or partial credits against future minimum or contingent rents otherwise payable by the Company, or a combination thereof. In most cases, landlord incentives are received after the Company takes possession of the property and as milestones are met during the construction of the property. The Company includes these amounts in the measurement of the initial operating lease liability and right-of-use asset.
Pre-opening Costs
Pre-opening Costs
Pre-opening costs are expensed as incurred and consist primarily of occupancy, manager and team member wages, cookware, travel and lodging costs for the opening training team and other supporting team members, marketing expenses, legal fees, and inventory costs incurred prior to the opening of a Shack.
Income Taxes
Income Taxes
Income taxes are accounted for pursuant to the asset and liability method which requires the recognition of deferred income tax assets and liabilities related to the expected future tax consequences arising from temporary differences between the carrying values and tax bases of assets and liabilities based on enacted statutory tax rates applicable to the periods in which the temporary differences are expected to reverse. Any effects of changes in income tax rates or laws are included in Income tax expense on the Consolidated Statements of Income (Loss) in the period of enactment. A valuation allowance is recognized if we determine it is more likely than not that all or a portion of a deferred tax asset will not be recognized. In making such determination, the Company considers all available evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies, and recent and expected future results of operations.
Recently Issued Accounting Pronouncements
Recently Adopted Accounting Pronouncements     
We adopted the Accounting Standards Update ("ASU") summarized below in fiscal 2024.
ASUDescription
Date Adopted
Segment Reporting (Topic 280): Improvements to
Reportable Segment
Disclosures

(ASU 2023-07)
This ASU requires that an entity report segment information in accordance with Topic 280, Segment Reporting. The amendment in the ASU is intended to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses.

December 25, 2024
Recently Issued Accounting Pronouncements     
Accounting standards updates ("ASU") applicable to the Company that were recently issued are summarized below.
ASUDescriptionEffective Date
Income Taxes (Topic 740): Improvements to Income Tax Disclosures

(ASU 2023-09)
This ASU requires that an entity, on an annual basis, disclose additional income tax information, primarily related to the rate reconciliation and income taxes paid. The amendment in the ASU is intended to enhance the transparency and decision usefulness of income tax disclosures.

Early adoption is permitted. The Company is currently evaluating the impact this standard will have on our Consolidated Financial Statements and related disclosures.
Fiscal years beginning after December 15, 2024
Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses

(ASU 2024-03)
This ASU requires that an entity disaggregate relevant expense captions presented on the face of the income statement into natural expense categories within the footnotes of the financial statements. In addition, a separate disclosure of selling expenses is required to be presented. The ASU is intended to allow stakeholders to better understand the components of an entity's expenses.

Early adoption is permitted. The Company is evaluating the impact this standard will have on its Consolidated Financial Statements and related disclosures.
Fiscal years beginning after December 15, 2026
All other ASUs issued but not yet effective are not applicable or not expected to have a material impact on the Company’s future Consolidated Financial Statements.
v3.25.0.1
REVENUE (Tables)
 12 Months Ended
Dec. 25, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Revenue disaggregated by type was as follows:
202420232022
Shack sales$1,207,561 $1,046,819 $869,270 
Licensing revenue:
Sales-based royalties43,487 39,853 30,204 
Initial territory and opening fees1,560 861 1,012 
Total revenue$1,252,608 $1,087,533 $900,486 
Schedule of Contract with Customer, Asset and Liability
Contract liabilities and receivables from contracts with customers were as follows:
December 25
2024		December 27
2023
Shack sales receivables$10,699 $9,884 
Licensing receivables, net of allowance for doubtful accounts5,735 4,610 
Gift card liability2,584 2,603 
Deferred revenue, current1,666 1,192 
Deferred revenue, long-term17,060 17,157 
Revenue recognized that was included in the respective liability balances at the beginning of the period was as follows:
20242023
Gift card liability
$776 $634 
Deferred revenue1,461 1,103 
v3.25.0.1
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 25, 2024
Fair Value Disclosures [Abstract]  
Summary of Investment Holdings, Schedule of Investments
The Company's marketable securities were as follows:
December 25
2024		December 27
2023
Held-to-maturity securities
$— $68,561 
Schedule of Other Income From Available for Sale Securities
A summary of other income from marketable securities was as follows:
202420232022
Income from marketable securities
$640 $2,885 $1,033 
Realized gain on sale of equity securities— 81 — 
Unrealized loss on equity securities— — (158)
Total$640 $2,966 $875 
v3.25.0.1
ACCOUNTS RECEIVABLE (Tables)
 12 Months Ended
Dec. 25, 2024
Receivables [Abstract]  
Schedule of Accounts Receivable
The components of Accounts receivable, net were as follows:
December 25
2024		December 27
2023
Licensing receivables, net of allowance for doubtful accounts
$5,735 $4,610 
Credit card receivables5,856 6,360 
Delivery receivables4,225 3,039 
Other receivables3,871 2,838 
Accounts receivable, net$19,687 $16,847 
v3.25.0.1
PROPERTY AND EQUIPMENT, NET (Tables)
 12 Months Ended
Dec. 25, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment
The components of Property and equipment, net were as follows:

December 25
2024		December 27
2023
Leasehold improvements$676,098 $594,024 
Equipment116,561 98,780 
Furniture and fixtures34,057 31,469 
Computer equipment and software122,406 101,822 
Financing equipment lease right-of-use assets19,630 25,127 
Construction in progress40,034 56,533 
Property and equipment, gross1,008,786 907,755 
Less: accumulated depreciation(457,186)(376,760)
Property and equipment, net$551,600 $530,995 
v3.25.0.1
SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)
 12 Months Ended
Dec. 25, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Prepaid Expenses and Other Current Assets
The components of Prepaid expenses and other current assets were as follows:
December 25
2024		December 27
2023
Prepaid expenses
$8,196 $5,641 
Tenant allowance receivables
12,761 12,136 
Other
844 1,190 
Prepaid expenses and other current assets
$21,801 $18,967 
Other Current Liabilities
The components of Other current liabilities were as follows:
December 25
2024		December 27
2023
Sales tax payable$6,999 $6,076 
Current portion of financing equipment lease liabilities4,086 3,435 
Gift card liability2,584 2,603 
Other5,869 4,989 
Other current liabilities$19,538 $17,103 
v3.25.0.1
DEBT (Tables)
 12 Months Ended
Dec. 25, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Classification202420232022
Amortization expense on Convertible NotesInterest expense$1,047 $1,047 $1,047 
December 25
2024		December 27
2023
Convertible Notes
$250,000 $250,000 
Discount and debt issuance costs, net of amortization(3,317)(4,364)
Long-term debt
$246,683 $245,636 
Classification202420232022
Interest expense on Revolving Credit FacilityInterest expense$67 $74 $82 
ClassificationDecember 25
2024		December 27
2023
Unamortized deferred financing costs on Revolving Credit FacilityOther assets$23 $42 
v3.25.0.1
LEASES (Tables)
 12 Months Ended
Dec. 25, 2024
Leases [Abstract]  
Lease, Cost
A summary of operating and finance right-of-use assets and lease liabilities were as follows:
ClassificationDecember 25
2024		December 27
2023
Operating leasesOperating lease assets$424,611 $398,296 
Finance leasesProperty and equipment, net12,225 11,801 
Total right-of-use assets$436,836 $410,097 
Operating leases:
Operating lease liabilities, current$55,739 $49,004 
Long-term operating lease liabilities494,499 464,533 
Finance leases:
Other current liabilities4,086 3,435 
Other long-term liabilities8,616 8,721 
Total lease liabilities$562,940 $525,693 
The components of lease expense were as follows:
Classification202420232022
Operating lease cost
Occupancy and related expenses
Pre-opening costs
General and administrative expenses
$77,432 $67,781 $58,788 
Finance lease cost:
Amortization of right-of-use assetsDepreciation and amortization expense4,181 3,324 3,071 
Interest on lease liabilitiesInterest expense770 476 226 
Variable lease costOccupancy and related expenses
Pre-opening costs
General and administrative expenses		21,694 18,305 15,973 
Short-term lease costOccupancy and related expenses840 938 580 
Total lease cost$104,917 $90,824 $78,638 
A summary of lease terms and discount rates for operating and finance leases were as follows:
December 25
2024		December 27
2023
Weighted average remaining lease term (years):
Operating leases8.78.9
Finance leases3.34.7
Weighted average discount rate:
Operating leases6.2 %6.2 %
Finance leases6.1 %5.6 %
Supplemental cash flow information related to leases was as follows:
202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$91,783 $72,128 $61,114 
Operating cash flows from finance leases770 476 226 
Financing cash flows from finance leases3,964 3,272 2,974 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases84,887 72,403 56,578 
Finance leases4,792 8,972 2,415 
Lessee, Operating Lease, Liability, Maturity
As of December 25, 2024, future minimum lease payments for operating and finance leases consisted of the following:
Operating LeasesFinance Leases
2025¹$73,946 $4,719 
202690,942 3,977 
202786,408 3,239 
202882,420 1,707 
202976,049 297 
Thereafter298,374 77 
Total minimum payments708,139 14,016 
Less: imputed interest170,662 1,314 
Total lease liabilities$537,477 $12,702 
(1)Operating leases are net of certain tenant allowance receivables that were reclassified to Other current assets as of December 25, 2024.
Finance Lease, Liability, Maturity
As of December 25, 2024, future minimum lease payments for operating and finance leases consisted of the following:
Operating LeasesFinance Leases
2025¹$73,946 $4,719 
202690,942 3,977 
202786,408 3,239 
202882,420 1,707 
202976,049 297 
Thereafter298,374 77 
Total minimum payments708,139 14,016 
Less: imputed interest170,662 1,314 
Total lease liabilities$537,477 $12,702 
(1)Operating leases are net of certain tenant allowance receivables that were reclassified to Other current assets as of December 25, 2024.
v3.25.0.1
NON-CONTROLLING INTERESTS (Tables)
 12 Months Ended
Dec. 25, 2024
Noncontrolling Interest [Abstract]  
Schedule of Ownership Interests in SSE Holdings
The following table summarizes the ownership interest in SSE Holdings:
20242023
LLC InterestsOwnership %LLC InterestsOwnership %
Number of LLC Interests held by Shake Shack Inc.40,068,068 94.2 %39,474,315 93.3 %
Number of LLC Interests held by non-controlling interest holders2,455,713 5.8 %2,834,513 6.7 %
Total LLC Interests outstanding42,523,781 100.0 %42,308,828 100.0 %
Noncontrolling Interest, Ownership Percentages
The weighted average ownership percentages for the applicable reporting periods are used to attribute Net income (loss) and Other comprehensive income (loss) to the non-controlling interest holders and were as follows:
202420232022
Non-controlling interest holders' weighted average ownership percentages6.2 %6.7 %6.9 %
Schedule of Non-Controlling Interest
The following table summarizes the effects of changes in ownership of SSE Holdings on the Company's equity:
202420232022
Net income (loss) attributable to Shake Shack Inc.$10,207 $20,264 $(21,229)
Other comprehensive income (loss):
Unrealized holding income (loss) on foreign currency translation adjustment2 (3)(1)
Transfers (to) from non-controlling interests:
Increase in additional paid-in capital as a result of the redemption of LLC Interests3,517 265 313 
Decrease in additional paid-in capital as a result of activity under stock compensation plan(5,614)(3,271)(2,978)
Total effect of changes in ownership interest on equity attributable to Shake Shack Inc.$8,112 $17,255 $(23,895)
Redemption of LLC Interests
The following table summarizes the LLC Interests activity:
202420232022
LLC Interests activity under the Company's stock compensation plan
Number of LLC Interests received by Shake Shack Inc.214,953 154,317 90,527 
Redemption and acquisition of LLC Interests
Number of LLC Interests redeemed by non-controlling interest holders378,800 35,000 52,074 
Number of LLC Interests received by Shake Shack Inc.378,800 35,000 52,074 
Issuance of Class A common stock
Shares of Class A common stock issued in connection with redemptions of LLC Interests378,800 35,000 52,074 
Cancellation of Class B common stock
Shares of Class B common stock surrendered and canceled378,800 35,000 52,074 
v3.25.0.1
EQUITY-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 25, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Equity-Based Compensation Expense Recognized
A summary of equity-based compensation expense by award type was as follows:
202420232022
Performance stock units$2,611 $3,149 $4,199 
Restricted stock units13,304 11,739 9,127 
Equity-based compensation expense$15,915 $14,888 $13,326 
Total income tax benefit recognized related to equity-based compensation$396 $391 $302 
Equity-based compensation expense recognized was as follows:
202420232022
General and administrative expenses$14,339 $13,587 $12,305 
Labor and related expenses1,576 1,301 1,021 
Equity-based compensation expense$15,915 $14,888 $13,326 
Summary of Restricted Stock Unit Activity
A summary of restricted stock unit activity was as follows:
Restricted
Stock
Units
Weighted
Average
Grant Date Fair Value
Outstanding and unvested as of December 27, 2023511,544 $67.82 
Granted199,345 102.77 
Vested(185,649)70.31 
Forfeited(82,436)73.41 
Outstanding and unvested as of December 25, 2024442,804 $81.47 
Share-Based Payment Arrangement, Activity
A summary of performance stock unit activity was as follows:
Performance
Stock
Units
Weighted
Average
Grant Date Fair Value
Outstanding and unvested as of December 27, 2023121,425 $92.77 
Granted95,624 103.98 
Vested(10,646)129.68 
Forfeited(33,957)91.73 
Outstanding and unvested as of December 25, 2024172,446 $96.82 
Schedule of Stock Options, Activity
A summary of stock option activity was as follows:
Stock
Options
Weighted
Average
Exercise
Price
Aggregate Intrinsic ValueWeighted Average Remaining Contractual Life (Years)
Outstanding as of December 27, 2023100,625 $21.71 
Exercised(77,369)21.00 
Forfeited(11,144)23.45 
Outstanding as of December 25, 202412,112 $24.66 $1,300 0.5
Options vested and exercisable as of December 25, 202412,112 $24.66 $1,300 0.5
Schedule of Information About Stock Options
The following table summarizes information about stock options outstanding and exercisable as December 25, 2024:
Options Outstanding and Exercisable
Number Outstanding at December 25, 2024Weighted Average Remaining Contractual Life (Years)Weighted Average Exercise Price
Exercise Price
$21.00 9,001 0.1$21.00 
$34.62 2,003 1.4$34.62 
$36.41 1,108 1.9$36.41 
v3.25.0.1
INCOME TAXES (Tables)
 12 Months Ended
Dec. 25, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
The components of Income (loss) before income taxes were as follows:
202420232022
Domestic$(18,247)$(13,427)$(49,454)
Foreign32,491 30,407 25,169 
Income (loss) before income taxes$14,244 $16,980 $(24,285)
Schedule of Components of Income Tax Expense
The components of Income tax expense (benefit) were as follows:
202420232022
Current income taxes:
State and local$554 $1,271 $222 
Foreign3,924 3,793 3,612 
Total current income taxes4,478 5,064 3,834 
Deferred income taxes:
Federal(2,731)(12,427)(4,176)
State and local1,677 3,353 (838)
Total deferred income taxes(1,054)(9,074)(5,014)
Income tax expense (benefit)$3,424 $(4,010)$(1,180)
Reconciliation of Income Tax Expense, US Income Tax Rate
Reconciliations of Income tax expense (benefit) computed at the U.S. federal statutory income tax rate to the recognized Income tax expense (benefit) and the U.S. statutory income tax rate to our effective tax rates were as follows:
202420232022
Expected U.S. federal income taxes at statutory rate$2,991 21.0 %$3,565 21.0 %$(5,100)21.0 %
State and local income taxes, net of federal benefit2,166 15.2 %2,090 12.3 %(759)3.1 %
Foreign withholding taxes3,924 27.6 %3,792 22.3 %3,612 (14.9)%
Tax credits(7,033)(49.4)%(7,060)(41.6)%(5,969)24.6 %
Non-controlling interest(166)(1.2)%(196)(1.2)%122 (0.5)%
Non-deductible expenses2,240 15.7 %1,169 6.9 %1,467 (6.0)%
Reserve for uncertain tax positions
— — %154 0.9 %— — %
Remeasurement of deferred tax assets in connection with other tax rate changes392 2.8 %1,547 9.1 %225 (0.9)%
Return to provision adjustment
(650)(4.6)%(519)(3.0)%267 (1.1)%
Change in valuation allowance(97)(0.7)%(9,195)(54.1)%4,955 (20.4)%
Other(343)(2.4)%643 3.8 %— — %
Income tax expense (benefit)
$3,424 24.0 %$(4,010)(23.6)%$(1,180)4.9 %
Schedule of Deferred Tax Assets and Liabilities
The components of deferred tax assets and liabilities were as follows:
December 25
2024		December 27
2023
Deferred tax assets:
Investment in partnership$89,397 $90,419 
Tax Receivable Agreement67,192 64,076 
Operating lease liability5,264 4,713 
Financing lease liability124 114 
Deferred revenue209 196 
Equity-based compensation357 360 
Net operating loss carryforwards148,700 144,144 
Tax credits33,643 26,048 
Other assets1,772 947 
Total gross deferred tax assets346,658 331,017 
Valuation allowance(260)(357)
Total deferred tax assets, net of valuation allowance346,398 330,660 
Deferred tax liabilities:
Property and equipment(537)(599)
Operating lease right-of-use asset (4,147)(3,735)
Financing lease right-of-use asset (119)(111)
Other liabilities(9)(7)
Total gross deferred tax liabilities(4,812)(4,452)
Net deferred tax assets$341,586 $326,208 
Schedule of Unrecognized Tax Benefits Roll Forward
202420232022
Beginning balance
$147 $— $— 
Additions for tax positions of prior years
— 263 — 
Settlements
— (116)— 
Ending balance
$147 $147 $— 
v3.25.0.1
EARNINGS (LOSS) PER SHARE (Tables)
 12 Months Ended
Dec. 25, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share
The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings (loss) per share of Class A common stock (in thousands, except per share amounts):
202420232022
Numerator:
Net income (loss) attributable to Shake Shack Inc.—basic$10,207 $20,264 $(21,229)
Reallocation of net income attributable to non-controlling interests from the assumed conversion of Class B shares613 726 — 
Net income (loss) attributable to Shake Shack Inc.—diluted$10,820 $20,990 $(21,229)
Denominator:
Weighted average shares of Class A common stock outstanding—basic39,830 39,419 39,237 
Effect of dilutive securities:
Stock options52 75 — 
Performance stock units69 11 — 
Restricted stock units173 85 — 
Convertible Notes1,467 1,467 — 
Shares of Class B common stock2,612 2,842 — 
Weighted average shares of Class A common stock outstanding—diluted44,203 43,899 39,237 
Earnings (loss) per share of Class A common stock—basic$0.26 $0.51 $(0.54)
Earnings (loss) per share of Class A common stock—diluted$0.24 $0.48 $(0.54)
Schedule of Antidilutive Securities
The following table presents potentially dilutive securities excluded from the computations of diluted earnings (loss) per share of Class A common stock:
202420232022
Stock options— — 134,031 (2)
Performance stock units50,556 (1)99,718 (1)159,822 (2)
Restricted stock units— — 395,853 (2)
Shares of Class B common stock— — 2,869,513 (2)
Convertible notes— — 1,466,975 (2)
(1)Number of securities outstanding at the end of the period that were excluded from the computation of diluted earnings (loss) per share of Class A common stock because the performance conditions associated with these awards were not met assuming the end of the reporting period was the end of the performance period.
(2)Number of securities outstanding at the end of the period that were excluded from the computation of diluted earnings (loss) per share of Class A common stock because the effect would have been anti-dilutive.
v3.25.0.1
SUPPLEMENTAL CASH FLOW INFORMATION (Tables)
 12 Months Ended
Dec. 25, 2024
Cash and Cash Equivalents [Abstract]  
Schedule of Cash Flow Information
The following table sets forth supplemental cash flow information:
202420232022
Cash paid for:
Income taxes, net of refunds$6,531 $4,056 $3,731 
Interest, net of amounts capitalized882 537 252 
Non-cash investing activities:
Accrued purchases of property and equipment19,226 24,999 26,591 
Capitalized equity-based compensation217 181 126 
Non-cash financing activities:
Establishment of liabilities under Tax Receivable Agreement
12,121 720 844 
v3.25.0.1
RELATED PARTY TRANSACTIONS (Tables)
 12 Months Ended
Dec. 25, 2024
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
Classification202420232022
Amounts received from HYCLicensing revenue$926 $988 $802 
ClassificationDecember 25
2024		December 27
2023
Amounts due from HYCAccounts receivable, net$73 $57 
Classification202420232022
Amounts paid to MSP Conservancy
Occupancy and related expenses
$937 $898 $1,224 
Classification202420232022
Amounts paid to Olo, Inc.Other operating expenses$838 $595 $431 
ClassificationDecember 25
2024		December 27
2023
Amounts due to Olo, Inc.
Accounts payable
Accrued expenses
$227 $116 
Classification202420232022
Amounts paid to Block, Inc.Other operating expenses$12,119 $8,688 $4,337 
ClassificationDecember 25
2024		December 27
2023
Amounts due to Block, Inc.Accounts payable
Accrued expenses		$— $59 
ClassificationDecember 25
2024		December 27
2023
Amounts due under the Tax Receivable AgreementOther current liabilities
Liabilities under Tax Receivable Agreement, net of current portion		$247,734 $235,613 
Classification202420232022
Amounts paid to non-controlling interest holdersNon-controlling interests$482 $162 $410 
v3.25.0.1
SEGMENT REPORTING (Tables)
 12 Months Ended
Dec. 25, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
202420232022
Segment revenue(1)
$1,252,608 $1,087,533 $900,486 
Less:
Food and paper costs339,940 305,041 261,584 
Labor and related expenses338,750 304,254 257,358 
Other operating expenses(2)
178,381 149,449 129,650 
Occupancy and related expenses93,069 79,846 68,508 
General and administrative expenses
149,047 129,542 120,009 
Depreciation and amortization expense102,468 91,242 72,796 
Pre-opening costs15,547 19,231 15,050 
Impairments, loss on disposal of assets, and Shack closures32,368 3,007 2,425 
Interest expense2,045 1,717 1,518 
Income tax expense (benefit)3,424 (4,010)(1,180)

Other (income) loss, net(3)
(13,251)(12,776)(4,127)
Segment income (loss)
10,820 20,990 (23,105)
Reconciliation of profit or loss:
Adjustments and reconciling items— — — 
Consolidated net income (loss)
$10,820 $20,990 $(23,105)
December 25
2024		December 27
2023
Total Assets$1,696,971 $1,605,857 
(1)Refer to Note 20, for geographic information and breakdown of revenue and long-lived assets by geographic area.
(2)Other operating expenses consist of delivery commissions, Shack-level marketing expenses, repairs and maintenance, utilities, and other operating expenses incidental to operating our Company-operated Shacks, such as non-perishable supplies, credit card fees and property insurance.
(3)Other income, net includes net unrealized and realized gains and losses from marketable securities, dividend and interest income, and adjustments to liabilities under the Tax Receivable Agreement. Interest income was $640, $2,390 and nil, respectively for the fifty-two weeks ended December 25, 2024, December 27, 2023 and December 28, 2022.
v3.25.0.1
GEOGRAPHIC INFORMATION (Tables)
 12 Months Ended
Dec. 25, 2024
Segment Reporting [Abstract]  
Revenue from Customers by Geographic Areas
Revenue by geographic area was as follows:
202420232022
United States$1,219,356 $1,056,753 $875,047 
Other countries33,252 30,780 25,439 
Total revenue$1,252,608 $1,087,533 $900,486 
v3.25.0.1
NATURE OF OPERATIONS (Details) - Restaurant
Dec. 25, 2024
Dec. 27, 2023
Class of Stock [Line Items]    
Number of restaurants 579  
Shake Shack Inc.    
Class of Stock [Line Items]    
Ownership percent of noncontrolling interest 94.20% 93.30%
United States | Company-operated    
Class of Stock [Line Items]    
Number of restaurants 329  
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
USD ($)
renewal_option
Dec. 27, 2023
USD ($)
Dec. 28, 2022
USD ($)
Variable Interest Entity [Line Items]      
Capitalized implementation costs $ 4,051 $ 5,572  
Indefinite-lived intangible assets 2,040 1,903  
Gift card breakage income 413 327 $ 1,472
Cumulative catch-up adjustment     1,281
Advertising and promotions $ 22,169 12,437 $ 12,376
Number of renewal options | renewal_option 2    
Period of renewal term 5 years    
Maximum      
Variable Interest Entity [Line Items]      
Terms of lease contract (in years) 15 years    
Maximum | Furniture and fixtures      
Variable Interest Entity [Line Items]      
Useful life of property and equipment (in years) 7 years    
Maximum | Equipment      
Variable Interest Entity [Line Items]      
Useful life of property and equipment (in years) 7 years    
Maximum | Computer equipment and software      
Variable Interest Entity [Line Items]      
Useful life of property and equipment (in years) 5 years    
Minimum      
Variable Interest Entity [Line Items]      
Terms of lease contract (in years) 10 years    
Minimum | Furniture and fixtures      
Variable Interest Entity [Line Items]      
Useful life of property and equipment (in years) 5 years    
Minimum | Equipment      
Variable Interest Entity [Line Items]      
Useful life of property and equipment (in years) 5 years    
Minimum | Computer equipment and software      
Variable Interest Entity [Line Items]      
Useful life of property and equipment (in years) 2 years    
Variable Interest Entity, Primary Beneficiary      
Variable Interest Entity [Line Items]      
Net assets of SSE Holdings $ 413,793 $ 388,250  
v3.25.0.1
REVENUE - Schedule of Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Disaggregation of Revenue [Line Items]      
Total revenue $ 1,252,608 $ 1,087,533 $ 900,486
Shack sales      
Disaggregation of Revenue [Line Items]      
Total revenue 1,207,561 1,046,819 869,270
Sales-based royalties      
Disaggregation of Revenue [Line Items]      
Total revenue 43,487 39,853 30,204
Initial territory and opening fees      
Disaggregation of Revenue [Line Items]      
Total revenue $ 1,560 $ 861 $ 1,012
v3.25.0.1
REVENUE - Narrative (Details)
$ in Thousands
Dec. 25, 2024
USD ($)
Disaggregation of Revenue [Line Items]  
Revenue, remaining performance obligation $ 23,130
Maximum  
Disaggregation of Revenue [Line Items]  
License term 20 years
Minimum  
Disaggregation of Revenue [Line Items]  
License term 5 years
v3.25.0.1
REVENUE - Schedule of Respective Liability Balances (Details) - USD ($)
$ in Thousands
Dec. 25, 2024
Dec. 27, 2023
Disaggregation of Revenue [Line Items]    
Gift card liability $ 2,584 $ 2,603
Deferred revenue, current 1,666 1,192
Deferred revenue, long-term 17,060 17,157
Shack sales    
Disaggregation of Revenue [Line Items]    
Contract with customer, asset, net 10,699 9,884
Licensing receivables, net of allowance for doubtful accounts    
Disaggregation of Revenue [Line Items]    
Contract with customer, asset, net $ 5,735 $ 4,610
v3.25.0.1
REVENUE - Liability Balance (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Revenue from Contract with Customer [Abstract]    
Gift card liability $ 776 $ 634
Deferred revenue $ 1,461 $ 1,103
v3.25.0.1
FAIR VALUE MEASUREMENTS - Investments (Details) - USD ($)
$ in Thousands
Dec. 25, 2024
Dec. 27, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Held-to-maturity securities $ 0  
Held-to-maturity securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Held-to-maturity securities   $ 68,561
v3.25.0.1
FAIR VALUE MEASUREMENTS - Other Income (Expense) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Fair Value Disclosures [Abstract]      
Income from marketable securities $ 640 $ 2,885 $ 1,033
Realized gain on sale of equity securities 0 81 0
Unrealized loss on equity securities 0 0 (158)
Total $ 640 $ 2,966 $ 875
v3.25.0.1
FAIR VALUE MEASUREMENTS - Additional Information (Details)
 12 Months Ended
Dec. 25, 2024
USD ($)
Restaurant
Dec. 27, 2023
USD ($)
Dec. 28, 2022
USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Asset impairment charges   $ 0 $ 99,000
Facility Closing      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Number of restaurants closed | Restaurant 9    
Asset impairment charges $ 27,633,000    
Miscellaneous closure expense 1,715,000    
Expense related to closures $ 29,348,000    
v3.25.0.1
ACCOUNTS RECEIVABLE - Schedule of Accounts Receivable (Details) - USD ($)
$ in Thousands
Dec. 25, 2024
Dec. 27, 2023
Receivables [Abstract]    
Licensing receivables, net of allowance for doubtful accounts $ 5,735 $ 4,610
Credit card receivables 5,856 6,360
Delivery receivables 4,225 3,039
Other receivables 3,871 2,838
Accounts receivable, net $ 19,687 $ 16,847
v3.25.0.1
PROPERTY AND EQUIPMENT, NET (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Property, Plant and Equipment [Line Items]      
Property and equipment, gross $ 1,008,786 $ 907,755  
Less: accumulated depreciation (457,186) (376,760)  
Property and equipment, net 551,600 530,995  
Depreciation 102,442 91,216 $ 72,770
Leasehold improvements      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross 676,098 594,024  
Equipment      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross 116,561 98,780  
Furniture and fixtures      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross 34,057 31,469  
Computer equipment and software      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross 122,406 101,822  
Financing equipment lease right-of-use assets      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross 19,630 25,127  
Construction in progress      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross $ 40,034 $ 56,533  
v3.25.0.1
SUPPLEMENTAL BALANCE SHEET INFORMATION - Prepaid Expenses and Other Current Assets (Details) - USD ($)
$ in Thousands
Dec. 25, 2024
Dec. 27, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Prepaid expenses $ 8,196 $ 5,641
Tenant allowance receivables 12,761 12,136
Other 844 1,190
Prepaid expenses and other current assets $ 21,801 $ 18,967
v3.25.0.1
SUPPLEMENTAL BALANCE SHEET INFORMATION - Other Current Liabilities (Details) - USD ($)
$ in Thousands
Dec. 25, 2024
Dec. 27, 2023
Other Liabilities, Current    
Sales tax payable $ 6,999 $ 6,076
Current portion of financing equipment lease liabilities $ 4,086 $ 3,435
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other current liabilities Other current liabilities
Gift card liability $ 2,584 $ 2,603
Other 5,869 4,989
Other current liabilities $ 19,538 $ 17,103
v3.25.0.1
DEBT - Convertible Notes (Details)
$ / shares in Units, $ in Thousands
 1 Months Ended
Mar. 31, 2021
USD ($)
d
$ / shares
shares
Dec. 25, 2024
USD ($)
$ / shares
Dec. 27, 2023
USD ($)
$ / shares
Class A Common Stock      
Debt Instrument [Line Items]      
Common stock, par value (in dollars per share) | $ / shares   $ 0.001 $ 0.001
0% Convertible Senior Notes Due 2028 | Senior Notes | Private Placement      
Debt Instrument [Line Items]      
Aggregate principal amount | $ $ 250,000    
Interest rate (in percent) 0.00%    
Conversion rate | shares 5,867.9000    
Conversion price (in dollars per share) | $ / shares $ 170,420    
Fair value of convertible notes | $   $ 256,900 $ 205,000
0% Convertible Senior Notes Due 2028 | Senior Notes | Private Placement | Debt Instrument, Redemption, Period One      
Debt Instrument [Line Items]      
Threshold trading days 20    
Threshold consecutive trading days 30    
Threshold percentage of stock price trigger (in percent) 130.00%    
Redemption price (in percent) 100.00%    
0% Convertible Senior Notes Due 2028 | Senior Notes | Private Placement | Debt Instrument, Redemption, Period Two      
Debt Instrument [Line Items]      
Redemption price (in percent) 100.00%    
0% Convertible Senior Notes Due 2028 | Senior Notes | Private Placement | Debt Conversion, Condition One      
Debt Instrument [Line Items]      
Threshold trading days 20    
Threshold consecutive trading days 30    
Threshold percentage of stock price trigger (in percent) 130.00%    
0% Convertible Senior Notes Due 2028 | Senior Notes | Private Placement | Debt Conversion, Condition One | Class A Common Stock      
Debt Instrument [Line Items]      
Common stock, par value (in dollars per share) | $ / shares $ 0.001    
0% Convertible Senior Notes Due 2028 | Senior Notes | Private Placement | Debt Conversion, Condition Two      
Debt Instrument [Line Items]      
Threshold consecutive trading days 10    
Threshold percentage of stock price trigger (in percent) 98.00%    
Threshold business days 5    
v3.25.0.1
DEBT - Convertible Notes Classification (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Debt Instrument [Line Items]      
Amortization expense on Convertible Notes $ 1,047 $ 1,047 $ 1,047
Long-term debt 246,683 245,636  
0% Convertible Senior Notes Due 2028 | Senior Notes | Private Placement      
Debt Instrument [Line Items]      
Amortization expense on Convertible Notes 1,047 1,047 $ 1,047
Convertible Notes 250,000 250,000  
Discount and debt issuance costs, net of amortization (3,317) (4,364)  
Long-term debt $ 246,683 $ 245,636  
v3.25.0.1
DEBT - Revolving Credit Facility (Details) - Revolving Credit Facility - Line of Credit - USD ($)
 12 Months Ended
Dec. 27, 2023
Dec. 25, 2024
Line of Credit Facility [Line Items]    
Maximum borrowing capacity   $ 50,000,000
Incremental borrowing capacity   100,000,000
Outstanding amount under credit facility $ 0 0
Third Amendment and Restated Credit Arrangement    
Line of Credit Facility [Line Items]    
Maximum borrowing capacity   15,000,000
Letters of credit outstanding $ 3,147,000 $ 3,894,000
Minimum | Base Rate    
Line of Credit Facility [Line Items]    
Basis spread on variable rate (in percent) 0.00%  
Minimum | Secured Overnight Financing Rate (SOFR)    
Line of Credit Facility [Line Items]    
Basis spread on variable rate (in percent) 1.00%  
Maximum | Base Rate    
Line of Credit Facility [Line Items]    
Basis spread on variable rate (in percent) 1.50%  
Maximum | Secured Overnight Financing Rate (SOFR)    
Line of Credit Facility [Line Items]    
Basis spread on variable rate (in percent) 2.50%  
v3.25.0.1
DEBT - Revolving Credit Facility Classification (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Debt Instrument [Line Items]      
Interest expense $ 2,045 $ 1,717 $ 1,518
Revolving Credit Facility | Line of Credit      
Debt Instrument [Line Items]      
Interest expense 67 74 $ 82
Unamortized debt issuance cost $ 23 $ 42  
v3.25.0.1
LEASES - Narrative (Details)
$ in Thousands
Dec. 25, 2024
USD ($)
Leases [Abstract]  
Operating lease for non-cancellable leases $ 138,716
v3.25.0.1
LEASES - Balance Sheet Clasification (Details) - USD ($)
$ in Thousands
Dec. 25, 2024
Dec. 27, 2023
Leases [Abstract]    
Operating lease assets $ 424,611 $ 398,296
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Operating lease assets Operating lease assets
Finance lease right-of-use asset $ 12,225 $ 11,801
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property and equipment, net of accumulated depreciation of $457,186 and $376,760, respectively. Property and equipment, net of accumulated depreciation of $457,186 and $376,760, respectively.
Total right-of-use assets $ 436,836 $ 410,097
Operating leases:    
Operating lease liabilities, current 55,739 49,004
Long-term operating lease liabilities 494,499 464,533
Finance leases:    
Other current liabilities 4,086 3,435
Other long-term liabilities $ 8,616 $ 8,721
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other long-term liabilities Other long-term liabilities
Total lease liabilities $ 562,940 $ 525,693
v3.25.0.1
LEASES - Lease Cost (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Total lease cost      
Operating lease cost $ 77,432 $ 67,781 $ 58,788
Amortization of right-of-use assets 4,181 3,324 3,071
Interest on lease liabilities 770 476 226
Variable lease cost 21,694 18,305 15,973
Short-term lease cost 840 938 580
Total lease cost $ 104,917 $ 90,824 $ 78,638
v3.25.0.1
LEASES - Future Minimum Lease Payments (Details)
$ in Thousands
Dec. 25, 2024
USD ($)
Operating Leases  
2025 $ 73,946
2026 90,942
2027 86,408
2028 82,420
2029 76,049
Thereafter 298,374
Total minimum payments 708,139
Less: imputed interest 170,662
Total lease liabilities 537,477
Finance Leases  
2025 4,719
2026 3,977
2027 3,239
2028 1,707
2029 297
Thereafter 77
Total minimum payments 14,016
Less: imputed interest 1,314
Total lease liabilities $ 12,702
v3.25.0.1
LEASES - Lease Terms and Discount Rates (Details)
Dec. 25, 2024
Dec. 27, 2023
Weighted average remaining lease term (years):    
Operating leases 8 years 8 months 12 days 8 years 10 months 24 days
Finance leases 3 years 3 months 18 days 4 years 8 months 12 days
Weighted average discount rate:    
Operating leases 6.20% 6.20%
Finance leases 6.10% 5.60%
v3.25.0.1
LEASES - Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows from operating leases $ 91,783 $ 72,128 $ 61,114
Operating cash flows from finance leases 770 476 226
Financing cash flows from finance leases 3,964 3,272 2,974
Right-of-use assets obtained in exchange for lease obligations:      
Operating leases 84,887 72,403 56,578
Finance leases $ 4,792 $ 8,972 $ 2,415
v3.25.0.1
EMPLOYEE BENEFIT PLANS (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions $ 2,319 $ 1,888 $ 1,553
Defined Contribution Plan, Initial Contribution      
Defined Benefit Plan Disclosure [Line Items]      
Employer matching contribution percentage 100.00%    
Employer matching contribution as a percent of employees' gross pay 3.00%    
Defined Contribution Plan, Additional Contribution      
Defined Benefit Plan Disclosure [Line Items]      
Employer matching contribution percentage 50.00%    
Employer matching contribution as a percent of employees' gross pay 3.00%    
Defined Contribution Plan, Additional Contribution | Maximum      
Defined Benefit Plan Disclosure [Line Items]      
Employer matching contribution as a percent of employees' gross pay 5.00%    
v3.25.0.1
STOCKHOLDER'S EQUITY - Narrative (Details)
Feb. 04, 2015
Class A Common Stock  
Class of Stock [Line Items]  
Ratio of common stock to limited liability company interest 1
v3.25.0.1
NON-CONTROLLING INTERESTS - Narrative (Details)
Feb. 04, 2015
Class A Common Stock  
Noncontrolling Interest [Line Items]  
Ratio of common stock to limited liability company interest 1
v3.25.0.1
NON-CONTROLLING INTERESTS - Ownership Interest in SSE Holdings (Details) - shares
Dec. 25, 2024
Dec. 27, 2023
Noncontrolling Interest [Line Items]    
Number of LLC Interests held by Shake Shack Inc. (in shares) 40,068,068 39,474,315
Number of LLC Interests held by non-controlling interest holders (in shares) 2,455,713 2,834,513
Total LLC Interests outstanding (in shares) 42,523,781 42,308,828
Total LLC Interests outstanding (as a percentage) 100.00% 100.00%
Shake Shack Inc.    
Noncontrolling Interest [Line Items]    
Number of LLC Interests held by Shake Shack Inc. (as a percentage) 94.20% 93.30%
Non-Controlling Interest Holders    
Noncontrolling Interest [Line Items]    
Number of LLC Interests held by non-controlling interest holders (as a percentage) 5.80% 6.70%
v3.25.0.1
NON-CONTROLLING INTERESTS - Weighted Average Ownership Percentages (Details)
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Noncontrolling Interest [Abstract]      
Non-controlling interest holders' weighted average ownership percentages 6.20% 6.70% 6.90%
v3.25.0.1
NON-CONTROLLING INTERESTS - Changes in Ownership Interests in SSE Holdings (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Noncontrolling Interest [Line Items]      
Net income (loss) attributable to Shake Shack Inc. $ 10,207 $ 20,264 $ (21,229)
Other comprehensive income (loss):      
Unrealized holding income (loss) on foreign currency translation adjustment 2 (3) (1)
Transfers (to) from non-controlling interests:      
Total effect of changes in ownership interest on equity attributable to Shake Shack Inc. 8,112 17,255 (23,895)
Unrealized holding income (loss) on foreign currency translation adjustment      
Other comprehensive income (loss):      
Unrealized holding income (loss) on foreign currency translation adjustment 2 (3) (1)
Additional Paid-In Capital | Redemption or Exchange of Units      
Transfers (to) from non-controlling interests:      
Increase (decrease) in additional paid-in capital 3,517 265 313
Additional Paid-In Capital | Employee Stock Option      
Transfers (to) from non-controlling interests:      
Increase (decrease) in additional paid-in capital $ (5,614) $ (3,271) $ (2,978)
v3.25.0.1
NON-CONTROLLING INTERESTS - Redemption of LLC Interests (Details) - shares
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Limited Liability Company      
Class of Stock [Line Items]      
Number of LLC Interests received by Shake Shack Inc. (in shares) 593,753    
Number of units redeemed (in shares) 378,800 35,000 52,074
Stock options      
Class of Stock [Line Items]      
Number of LLC Interests received by Shake Shack Inc. (in shares) 214,953 154,317 90,527
Redemptions by NCI Holders | Limited Liability Company      
Class of Stock [Line Items]      
Number of units redeemed (in shares) 378,800 35,000 52,074
Common stock | Class A Common Stock      
Class of Stock [Line Items]      
Shares of Class A common stock issued in connection with redemptions of LLC Interests (in shares) 378,800 35,000 52,074
Common stock | Class B Common Stock      
Class of Stock [Line Items]      
Shares of Class A common stock issued in connection with redemptions of LLC Interests (in shares) (378,800) (35,000) (52,074)
Shares of Class B common stock surrendered and canceled (in shares) 378,800 35,000 52,074
v3.25.0.1
EQUITY-BASED COMPENSATION - Schedule Of Compensation Expense Recognized (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Equity-based compensation expense $ 15,915 $ 14,888 $ 13,326
Total income tax benefit recognized related to equity-based compensation 396 391 302
Performance stock units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Equity-based compensation expense 2,611 3,149 4,199
Restricted stock units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Equity-based compensation expense 13,304 11,739 9,127
General and administrative expenses      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Equity-based compensation expense 14,339 13,587 12,305
Labor and related expenses      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Equity-based compensation expense $ 1,576 $ 1,301 $ 1,021
v3.25.0.1
EQUITY-BASED COMPENSATION - Narrative (Details) - USD ($)
 1 Months Ended 12 Months Ended
Jun. 30, 2024
Jan. 31, 2015
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Capitalized equity-based compensation expense associated with construction cost     $ 371,000 $ 286,000 $ 192,000
Unrecognized compensation expense     0    
Net proceeds from stock option exercises     1,627,000 $ 744,000 $ 424,000
Cash tax benefit realized     $ 137,000    
Granted (in shares)     0 0 0
Options exercised during period     $ 7,212,000 $ 1,426,000 $ 631,000
Vested (in shares)     0 0 0
Restricted stock units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Number of shares available for grant (in shares) 842,321 5,865,522      
Extension term 10 years        
Granted (in USD per share)     $ 102.77 $ 58.26 $ 71.25
Fair value of restricted stock units vested       $ 10,382,000 $ 5,936,000
Unrecognized compensation expense     $ 25,942,000    
Weighted-average period for recognition compensation expense     2 years 6 months    
Granted (in shares)     199,345,000    
Restricted stock units | Minimum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Award vesting period   1 year      
Restricted stock units | Maximum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Award vesting period   5 years      
Performance stock units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Granted (in USD per share)     $ 103.98 $ 0 $ 0
Weighted-average period for recognition compensation expense     2 years 6 months    
Requisite service period     4 years    
Requisite service period, cliff vest option     3 years    
Granted (in shares)     95,624 0 0
Fair value of stock options vested       $ 1,441,000 $ 1,869,000
Shares expected to be recognized     $ 6,645,000    
Performance stock units | Minimum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Range of awards     0.00%    
Performance period     1 year    
Performance stock units | Maximum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Range of awards     200.00%    
Performance period     3 years    
Stock options | Minimum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Award vesting period     1 year    
Stock options | Maximum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Award vesting period     5 years    
v3.25.0.1
EQUITY-BASED COMPENSATION - Performance and Restricted Stock Activity (Details) - $ / shares
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Restricted stock units      
Performance and Restricted Stock Units      
Outstanding and unvested at beginning of period (in shares) 442,804,000 511,544,000  
Granted (in shares) 199,345,000    
Vested (in shares) (185,649,000)    
Forfeited (in shares) (82,436,000)    
Outstanding and unvested at end of period (in shares) 442,804,000 511,544,000  
Weighted Average Grant Date Fair Value      
Outstanding and unvested at beginning of period (in USD per share) $ 67.82    
Granted (in USD per share) 102.77 $ 58.26 $ 71.25
Vested (in USD per share) 70.31    
Forfeited (in USD per share) 73.41    
Outstanding and unvested at end of period (in USD per share) $ 81.47 $ 67.82  
Performance stock units      
Performance and Restricted Stock Units      
Outstanding and unvested at beginning of period (in shares) 172,446 121,425  
Granted (in shares) 95,624 0 0
Vested (in shares) (10,646)    
Forfeited (in shares) (33,957)    
Outstanding and unvested at end of period (in shares) 172,446 121,425  
Weighted Average Grant Date Fair Value      
Outstanding and unvested at beginning of period (in USD per share) $ 92.77    
Granted (in USD per share) 103.98 $ 0 $ 0
Vested (in USD per share) 129.68    
Forfeited (in USD per share) 91.73    
Outstanding and unvested at end of period (in USD per share) $ 96.82 $ 92.77  
v3.25.0.1
EQUITY-BASED COMPENSATION - Stock Option Activity (Details)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 25, 2024
USD ($)
$ / shares
shares
Stock Options  
Outstanding at beginning of period (in shares) | shares 100,625
Exercised (in shares) | shares (77,369)
Forfeited (in shares) | shares (11,144)
Outstanding at end of period (in shares) | shares 12,112
Options vested and exercisable at end of period (in shares) | shares 12,112
Weighted Average Exercise Price  
Outstanding at beginning of period (in USD per share) | $ / shares $ 21.71
Exercised (in USD per share) | $ / shares 21.00
Forfeited (in USD per share) | $ / shares 23.45
Outstanding at end of period (in USD per share) | $ / shares 24.66
Weighted average options vested and exercisable (in USD per share) | $ / shares $ 24.66
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]  
Outstanding, Aggregate Intrinsic Value | $ $ 1,300
Vested and exercisable, Aggregate Intrinsic Value | $ $ 1,300
Outstanding, Weighted Average Remaining Contractual Life (Years) 6 months
Vested and exercisable, Weighted Average Remaining Contractual Life (Years) 6 months
v3.25.0.1
EQUITY-BASED COMPENSATION - Stock Options Outstanding and Exercisable (Details)
 12 Months Ended
Dec. 25, 2024
$ / shares
shares
Twenty-One Dollars  
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]  
Number Outstanding (in shares) | shares 9,001
Weighted Average Remaining Contractual Life (Years) 1 month 6 days
Weighted Average Exercise Price (in USD per share) | $ / shares $ 21.00
Thirty-Four Point Sixty Two Dollars  
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]  
Number Outstanding (in shares) | shares 2,003
Weighted Average Remaining Contractual Life (Years) 1 year 4 months 24 days
Weighted Average Exercise Price (in USD per share) | $ / shares $ 34.62
Thirty-Six Point Forty One Dollars  
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]  
Number Outstanding (in shares) | shares 1,108
Weighted Average Remaining Contractual Life (Years) 1 year 10 months 24 days
Weighted Average Exercise Price (in USD per share) | $ / shares $ 36.41
v3.25.0.1
INCOME TAXES - Schedule of Components of Income before Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Income Tax Disclosure [Abstract]      
Domestic $ (18,247) $ (13,427) $ (49,454)
Foreign 32,491 30,407 25,169
INCOME (LOSS) BEFORE INCOME TAXES $ 14,244 $ 16,980 $ (24,285)
v3.25.0.1
INCOME TAXES - Schedule of Components of Income Tax Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Current income taxes:      
State and local $ 554 $ 1,271 $ 222
Foreign 3,924 3,793 3,612
Total current income taxes 4,478 5,064 3,834
Deferred income taxes:      
Federal (2,731) (12,427) (4,176)
State and local 1,677 3,353 (838)
Total deferred income taxes (1,054) (9,074) (5,014)
Income tax expense (benefit) $ 3,424 $ (4,010) $ (1,180)
v3.25.0.1
INCOME TAXES - Reconciliation of Income Tax Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Expected U.S. federal income taxes at statutory rate $ 2,991 $ 3,565 $ (5,100)
State and local income taxes, net of federal benefit 2,166 2,090 (759)
Foreign withholding taxes 3,924 3,792 3,612
Tax credits (7,033) (7,060) (5,969)
Non-controlling interest (166) (196) 122
Non-deductible expenses 2,240 1,169 1,467
Reserve for uncertain tax positions 0 154 0
Remeasurement of deferred tax assets in connection with other tax rate changes 392 1,547 225
Return to provision adjustment (650) (519) 267
Change in valuation allowance (97) (9,195) 4,955
Other (343) 643 0
Income tax expense (benefit) $ 3,424 $ (4,010) $ (1,180)
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Expected U.S. federal income taxes at statutory rate 21.00% 21.00% 21.00%
State and local income taxes, net of federal benefit 15.20% 12.30% 3.10%
Foreign withholding taxes 27.60% 22.30% (14.90%)
Tax credits (49.40%) (41.60%) 24.60%
Non-controlling interest (1.20%) (1.20%) (0.50%)
Non-deductible expenses 15.70% 6.90% (6.00%)
Reserve for uncertain tax positions 0.00% 0.90% 0.00%
Remeasurement of deferred tax assets in connection with other tax rate changes 2.80% 9.10% (0.90%)
Return to provision adjustment (4.60%) (3.00%) (1.10%)
Change in valuation allowance (0.70%) (54.10%) (20.40%)
Other (2.40%) 3.80% 0.00%
Income tax expense (benefit) 24.00% (23.60%) 4.90%
v3.25.0.1
INCOME TAXES - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Income Tax Contingency [Line Items]      
Effective income tax rate (percent) 24.00% (23.60%) 4.90%
Deferred tax assets, carryforwards, federal $ 615,782,000    
Deferred tax assets, carryforwards, state and local 334,359,000    
Basis difference in investment 10,985,000    
Investment in partnership 89,397,000 $ 90,419,000  
Valuation allowance (260,000) (357,000)  
Increase (decrease) in valuation allowance $ (97,000)    
Percentage of tax benefits due to equity owners 85.00%    
Remaining percentage of tax benefits due to equity owners 15.00%    
Additional deferred tax asset recognized, investment in partnership $ 10,985,000    
Tax receivable agreement, payments to members 0 $ 0 $ 0
Tax receivable liability 247,734,000    
Other Current Liabilities      
Income Tax Contingency [Line Items]      
Tax receivable liability $ 717,000    
Limited Liability Company      
Income Tax Contingency [Line Items]      
LLC interests acquired (in shares) 593,753    
Investment in partnership $ 89,397,000    
Number of units redeemed (in shares) 378,800 35,000 52,074
Limited Liability Company | Redemptions by NCI Holders      
Income Tax Contingency [Line Items]      
Number of units redeemed (in shares) 378,800 35,000 52,074
Domestic Tax Jurisdiction      
Income Tax Contingency [Line Items]      
Operating loss carryforwards that can be carried forward indefinitely $ 563,915,000    
Operating loss carryforward with expiration date 51,867,000    
Domestic Tax Jurisdiction | Capital Loss Carryforward      
Income Tax Contingency [Line Items]      
Tax credit carryforwards 33,749,000    
State and Local Jurisdiction      
Income Tax Contingency [Line Items]      
Operating loss carryforwards that can be carried forward indefinitely 106,682,000    
Operating loss carryforward with expiration date 227,677,000    
Tax credit carryforwards $ 273,000    
v3.25.0.1
INCOME TAXES - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 25, 2024
Dec. 27, 2023
Deferred tax assets:    
Investment in partnership $ 89,397 $ 90,419
Tax Receivable Agreement 67,192 64,076
Operating lease liability 5,264 4,713
Financing lease liability 124 114
Deferred revenue 209 196
Equity-based compensation 357 360
Net operating loss carryforwards 148,700 144,144
Tax credits 33,643 26,048
Other assets 1,772 947
Total gross deferred tax assets 346,658 331,017
Valuation allowance (260) (357)
Total deferred tax assets, net of valuation allowance 346,398 330,660
Deferred tax liabilities:    
Property and equipment (537) (599)
Operating lease right-of-use asset (4,147) (3,735)
Financing lease right-of-use asset (119) (111)
Other liabilities (9) (7)
Total gross deferred tax liabilities (4,812) (4,452)
Net deferred tax assets $ 341,586 $ 326,208
v3.25.0.1
INCOME TAXES - Reconciliations Of Uncertain Tax Positions (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Unrecognized Tax Benefits [Roll Forward]      
Beginning balance $ 147 $ 0 $ 0
Additions for tax positions of prior years 0 263 0
Settlements 0 (116) 0
Ending balance $ 147 $ 147 $ 0
v3.25.0.1
EARNINGS (LOSS) PER SHARE - Schedule of Earnings (Loss) Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Numerator:      
Net income (loss) attributable to Shake Shack Inc.—basic $ 10,207 $ 20,264 $ (21,229)
Reallocation of net income attributable to non-controlling interests from the assumed conversion of Class B shares 613 726 (1,876)
Net income (loss) attributable to Shake Shack Inc.—diluted $ 10,820 $ 20,990 $ (21,229)
Denominator:      
Weighted average shares of Class A common stock outstanding—basic 39,830 39,419 39,237
Effect of dilutive securities:      
Weighted average shares of Class A common stock outstanding—diluted 44,203 43,899 39,237
Earnings (loss) per share of Class A common stock—basic (in dollars per share) $ 0.26 $ 0.51 $ (0.54)
Earnings (loss) per share of Class A common stock—diluted (in dollars per share) $ 0.24 $ 0.48 $ (0.54)
Performance stock units      
Effect of dilutive securities:      
Incremental common shares (in shares) 69 11 0
Restricted stock units      
Effect of dilutive securities:      
Incremental common shares (in shares) 173 85 0
Convertible Notes      
Effect of dilutive securities:      
Incremental common shares (in shares) 1,467 1,467 0
Class B Common Stock      
Numerator:      
Reallocation of net income attributable to non-controlling interests from the assumed conversion of Class B shares $ 613 $ 726 $ 0
Effect of dilutive securities:      
Incremental common shares (in shares) 2,612 2,842 0
Stock options      
Effect of dilutive securities:      
Incremental common shares (in shares) 52 75 0
v3.25.0.1
EARNINGS (LOSS) PER SHARE - Antidilutive Securities (Details) - shares
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Stock options      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive shares (in shares) 0 0 134,031
Performance stock units      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive shares (in shares) 50,556 99,718 159,822
Restricted stock units      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive shares (in shares) 0 0 395,853
Class B Common Stock      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive shares (in shares) 0 0 2,869,513
Convertible notes      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive shares (in shares) 0 0 1,466,975
v3.25.0.1
SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Cash paid for:      
Income taxes, net of refunds $ 6,531 $ 4,056 $ 3,731
Interest, net of amounts capitalized 882 537 252
Non-cash investing activities:      
Accrued purchases of property and equipment 19,226 24,999 26,591
Capitalized equity-based compensation 217 181 126
Non-cash financing activities:      
Establishment of liabilities under Tax Receivable Agreement $ 12,121 $ 720 $ 844
v3.25.0.1
COMMITMENTS AND CONTINGENCIES (Details)
$ in Thousands
Dec. 25, 2024
USD ($)
Loss Contingencies [Line Items]  
Percentage of tax benefits due to equity owners 85.00%
Letter Of Credit - Expiring August 2025, Renews Through January 2034  
Loss Contingencies [Line Items]  
Letters of credit outstanding $ 402
Letter Of Credit - Expiring December 2024, Renews Through December 2029  
Loss Contingencies [Line Items]  
Letters of credit outstanding 163
Letter Of Credit - Expiring February 2026  
Loss Contingencies [Line Items]  
Letters of credit outstanding $ 130
v3.25.0.1
RELATED PARTY TRANSACTIONS - Additional Information (Details)
 12 Months Ended
Dec. 25, 2024
USD ($)
renewal_option
Dec. 27, 2023
USD ($)
Dec. 28, 2022
USD ($)
Related Party Transaction [Line Items]      
Accounts payable $ 23,609,000 $ 22,273,000  
Percentage of tax benefits due to equity owners 85.00%    
Tax receivable agreement, payments to members $ 0 0 $ 0
Hudson Yards Catering ("HYC") | Related Party      
Related Party Transaction [Line Items]      
Master license agreement, number of renewal terms | renewal_option 5    
Renewal option period 5 years    
Madison Square Park Conservancy ("MSP Conservancy") | Related Party      
Related Party Transaction [Line Items]      
Accounts payable $ 0 $ 0  
v3.25.0.1
RELATED PARTY TRANSACTIONS - Schedule of Related Party Transactions (Details) - USD ($)
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Related Party Transaction [Line Items]      
Total revenue $ 1,252,608,000 $ 1,087,533,000 $ 900,486,000
Accounts receivable, net 19,687,000 16,847,000  
Occupancy and related expenses 93,069,000 79,846,000 68,508,000
Other operating expenses 178,381,000 149,449,000 129,650,000
Accounts payable 23,609,000 22,273,000  
Hudson Yards Catering ("HYC") | Related Party      
Related Party Transaction [Line Items]      
Total revenue 926,000 988,000 802,000
Accounts receivable, net 73,000 57,000  
Madison Square Park Conservancy ("MSP Conservancy") | Related Party      
Related Party Transaction [Line Items]      
Occupancy and related expenses 937,000 898,000 1,224,000
Accounts payable 0 0  
Olo, Inc. | Related Party      
Related Party Transaction [Line Items]      
Other operating expenses 838,000 595,000 431,000
Accounts payable 227,000 116,000  
Block, Inc. | Related Party      
Related Party Transaction [Line Items]      
Other operating expenses 12,119,000 8,688,000 $ 4,337,000
Accounts payable $ 0 $ 59,000  
v3.25.0.1
RELATED PARTY TRANSACTIONS - Tax Receivable Agreement (Details) - USD ($)
$ in Thousands
Dec. 25, 2024
Dec. 27, 2023
Related Party Transactions [Abstract]    
Amounts due under the Tax Receivable Agreement $ 247,734 $ 235,613
v3.25.0.1
RELATED PARTY TRANSACTIONS - Distributions to Members of SSE Holdings (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Related Party Transactions [Abstract]      
Amounts paid to non-controlling interest holders $ 482 $ 162 $ 410
v3.25.0.1
SEGMENT REPORTING - Narrative (Details)
 12 Months Ended
Dec. 25, 2024
segment
Segment Reporting [Abstract]  
Number of operating segments 1
Number of reportable segments 1
v3.25.0.1
SEGMENT REPORTING - Schedule of Segment Reporting (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Segment Reporting Information [Line Items]      
Total revenue $ 1,252,608 $ 1,087,533 $ 900,486
Less:      
Food and paper costs 339,940 305,041 261,584
Labor and related expenses 338,750 304,254 257,358
Other operating expenses 178,381 149,449 129,650
Occupancy and related expenses 93,069 79,846 68,508
General and administrative expenses 149,047 129,542 120,009
Depreciation and amortization expense 102,468 91,242 72,796
Pre-opening costs 15,547 19,231 15,050
Impairments, loss on disposal of assets, and Shack closures 32,368 3,007 2,425
Interest expense 2,045 1,717 1,518
Income tax expense (benefit) 3,424 (4,010) (1,180)
Other income, net 13,251 12,776 4,127
NET INCOME (LOSS) 10,820 20,990 (23,105)
TOTAL ASSETS 1,696,971 1,605,857  
Interest income 640 2,390 0
Reportable Segment      
Less:      
TOTAL ASSETS 1,696,971 1,605,857  
Reportable Segment | Operating Segments      
Segment Reporting Information [Line Items]      
Total revenue 1,252,608 1,087,533 900,486
Less:      
Food and paper costs 339,940 305,041 261,584
Labor and related expenses 338,750 304,254 257,358
Other operating expenses 178,381 149,449 129,650
Occupancy and related expenses 93,069 79,846 68,508
General and administrative expenses 149,047 129,542 120,009
Depreciation and amortization expense 102,468 91,242 72,796
Pre-opening costs 15,547 19,231 15,050
Impairments, loss on disposal of assets, and Shack closures 32,368 3,007 2,425
Interest expense 2,045 1,717 1,518
Income tax expense (benefit) 3,424 (4,010) (1,180)
Other income, net (13,251) (12,776) (4,127)
NET INCOME (LOSS) 10,820 20,990 (23,105)
Reportable Segment | Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment      
Less:      
NET INCOME (LOSS) $ 0 $ 0 $ 0
v3.25.0.1
GEOGRAPHIC INFORMATION (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue $ 1,252,608 $ 1,087,533 $ 900,486
United States      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue 1,219,356 1,056,753 875,047
Other countries      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue $ 33,252 $ 30,780 $ 25,439
v3.25.0.1
SCHEDULE I: CONDENSED FINANCIAL INFORMATION OF REGISTRANT - CONDENSED BALANCE SHEET (Details) - USD ($)
$ / shares in Units, $ in Thousands
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Dec. 29, 2021
Current assets:        
Prepaid expenses $ 8,196 $ 5,641    
Total current assets 368,216 334,432    
Deferred income taxes, net 341,586 326,208    
TOTAL ASSETS 1,696,971 1,605,857    
Current liabilities:        
Accounts payable 23,609 22,273    
Accrued expenses 63,005 54,742    
Other current liabilities 19,538 17,103    
Total current liabilities 187,313 164,067    
Long-term debt 246,683 245,636    
Liabilities under tax receivable agreement, net of current portion 247,017 235,613    
Total liabilities 1,203,345 1,136,487    
Commitments and contingencies    
Stockholders' equity:        
Preferred stock 0 0    
Additional paid-in capital 442,993 426,601    
Retained earnings 26,984 16,777    
Accumulated other comprehensive loss (1) (3)    
Total stockholders' equity 493,626 469,370 $ 436,836 $ 449,805
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,696,971 $ 1,605,857    
Preferred stock, par value (in dollars per share) $ 0 $ 0    
Preferred stock, shares authorized (in shares) 10,000,000 10,000,000    
Preferred stock, shares issued (in shares) 0 0    
Preferred stock, shares outstanding (in shares) 0 0    
Class A Common Stock        
Stockholders' equity:        
Common stock $ 40 $ 39    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001    
Common stock, shares authorized (in shares) 200,000,000 200,000,000    
Common stock, shares, issued (in shares) 40,068,068 39,474,315    
Common stock, shares, outstanding (in shares) 40,068,068 39,474,315    
Class B Common Stock        
Stockholders' equity:        
Common stock $ 2 $ 3    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001    
Common stock, shares authorized (in shares) 35,000,000 35,000,000    
Common stock, shares, issued (in shares) 2,455,713 2,834,513    
Common stock, shares, outstanding (in shares) 2,455,713 2,834,513    
Parent Company        
Current assets:        
Cash $ 9,271 $ 6,672    
Prepaid expenses 1,405 63    
Total current assets 10,676 6,735    
Deferred income taxes, net 336,588 328,870    
Investment in SSE Holdings 390,184 362,296    
TOTAL ASSETS 1,005,522 935,960    
Current liabilities:        
Accounts payable 0 146    
Accrued expenses 87 621    
Other current liabilities 717 0    
Total current liabilities 33,286 22,794    
Long-term debt 246,683 245,636    
Liabilities under tax receivable agreement, net of current portion 247,017 235,613    
Total liabilities 526,986 504,043    
Commitments and contingencies    
Stockholders' equity:        
Preferred stock 0 0    
Additional paid-in capital 442,993 426,601    
Retained earnings 35,502 5,277    
Accumulated other comprehensive loss (1) (3)    
Total stockholders' equity 478,536 431,917    
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,005,522 $ 935,960    
Preferred stock, par value (in dollars per share) $ 0 $ 0    
Preferred stock, shares authorized (in shares) 10,000,000 10,000,000    
Preferred stock, shares issued (in shares) 0 0    
Preferred stock, shares outstanding (in shares) 0 0    
Parent Company | Affiliated Entity        
Current assets:        
Notes receivable $ 224,879 $ 216,946    
Parent Company | Affiliated Entity | Conversion Option        
Current assets:        
Notes receivable 33,500 12,900    
Parent Company | Related Party        
Current assets:        
Notes receivable 9,695 8,213    
Current liabilities:        
Other current liabilities 32,482 22,027    
Parent Company | Class A Common Stock        
Stockholders' equity:        
Common stock $ 40 $ 39    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001    
Common stock, shares authorized (in shares) 200,000,000 200,000,000    
Common stock, shares, issued (in shares) 39,284,998 39,142,397    
Common stock, shares, outstanding (in shares) 39,284,998 39,142,397    
Parent Company | Class B Common Stock        
Stockholders' equity:        
Common stock $ 2 $ 3    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001    
Common stock, shares authorized (in shares) 35,000,000 35,000,000    
Common stock, shares, issued (in shares) 2,869,513 2,921,587    
Common stock, shares, outstanding (in shares) 2,869,513 2,921,587    
v3.25.0.1
SCHEDULE I: CONDENSED FINANCIAL INFORMATION OF REGISTRANT - CONDENSED STATEMENTS OF INCOME (LOSS) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Condensed Income Statements, Captions [Line Items]      
TOTAL REVENUE $ 1,252,608 $ 1,087,533 $ 900,486
General and administrative expenses 149,047 129,542 120,009
TOTAL EXPENSES 1,249,570 1,081,612 927,380
INCOME (LOSS) FROM OPERATIONS 3,038 5,921 (26,894)
Other income (expense), net 13,251 12,776 4,127
Interest expense (2,045) (1,717) (1,518)
INCOME (LOSS) BEFORE INCOME TAXES 14,244 16,980 (24,285)
Income tax expense (benefit) 3,424 (4,010) (1,180)
NET INCOME (LOSS) 10,820 20,990 (23,105)
Parent Company      
Condensed Income Statements, Captions [Line Items]      
Intercompany revenue 6,476 7,971 2,293
TOTAL REVENUE 6,476 7,971 2,293
General and administrative expenses 5,647 6,663 3,132
Intercompany expenses 45 54 67
TOTAL EXPENSES 5,692 6,717 3,199
INCOME (LOSS) FROM OPERATIONS 784 1,254 (906)
Equity in net income (loss) from SSE Holdings 8,558 10,091 (25,335)
Other income (expense), net 28,533 14,533 (1,767)
Interest expense (1,047) (1,047) (1,047)
INCOME (LOSS) BEFORE INCOME TAXES 36,828 24,831 (29,055)
Income tax expense (benefit) 6,603 (5,203) (5,783)
NET INCOME (LOSS) $ 30,225 $ 30,034 $ (23,272)
v3.25.0.1
SCHEDULE I: CONDENSED FINANCIAL INFORMATION OF REGISTRANT - CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Details) - USD ($)
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Condensed Statement of Income Captions [Line Items]      
Net income (loss) $ 10,820,000 $ 20,990,000 $ (23,105,000)
Other comprehensive income (loss), net of tax:      
Change in foreign currency translation adjustment 2,000 (3,000) (1,000)
OTHER COMPREHENSIVE INCOME (LOSS) 2,000 (3,000) (1,000)
COMPREHENSIVE INCOME (LOSS) 10,822,000 20,987,000 (23,106,000)
Income tax benefit [1] 0 0 0
Parent Company      
Condensed Statement of Income Captions [Line Items]      
Net income (loss) 30,225,000 30,034,000 (23,272,000)
Other comprehensive income (loss), net of tax:      
Change in foreign currency translation adjustment 2,000 (3,000) (1,000)
OTHER COMPREHENSIVE INCOME (LOSS) 2,000 (3,000) (1,000)
COMPREHENSIVE INCOME (LOSS) $ 30,227,000 $ 30,031,000 $ (23,273,000)
[1] Net of tax benefit of $0 for fiscal years ended December 25, 2024, December 27, 2023 and December 28, 2022.
v3.25.0.1
SCHEDULE I: CONDENSED FINANCIAL INFORMATION OF REGISTRANT - STATEMENTS OF CASH FLOWS (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
OPERATING ACTIVITIES      
Net income (loss) $ 10,820 $ 20,990 $ (23,105)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Amortization of debt issuance costs (1,047) (1,047) (1,047)
Equity-based compensation 15,915 14,888 13,326
Deferred income taxes (1,054) (9,074) (5,014)
Unrealized loss on equity securities 0 0 (158)
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (2,629) (2,253) (2,473)
Accounts payable 3,356 687 3,541
Accrued expenses 6,644 9,513 3,502
NET CASH PROVIDED BY OPERATING ACTIVITIES 171,155 132,139 76,742
INVESTING ACTIVITIES      
NET CASH USED IN INVESTING ACTIVITIES (66,079) (132,320) (143,424)
FINANCING ACTIVITIES      
Proceeds from stock option exercises 1,627 744 424
NET CASH USED IN FINANCING ACTIVITIES (9,017) (5,684) (5,202)
Effect of exchange rate changes on cash and cash equivalents 2 (3) (1)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 96,061 (5,868) (71,885)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 224,653    
CASH AND CASH EQUIVALENTS AT END OF PERIOD 320,714 224,653  
Parent Company      
OPERATING ACTIVITIES      
Net income (loss) 30,225 30,034 (23,272)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Equity in net (income) loss from SSE Holdings (8,558) (10,091) 25,335
Amortization of debt issuance costs 1,047 1,047 1,047
Equity-based compensation 920 894 614
Deferred income taxes 6,606 (5,249) (5,783)
Unrealized loss on equity securities (20,600) (6,600) 9,700
Other non-cash income (7,933) (7,933) (7,934)
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (1,342) (1) 2
Due (to) from SSE Holdings 1,153 (3,944) (728)
Accounts payable (146) 107 30
Accrued expenses (395) 515 (103)
NET CASH PROVIDED BY OPERATING ACTIVITIES 977 (1,221) (1,092)
INVESTING ACTIVITIES      
Purchases of LLC Interests from SSE Holdings (27,618) (11,731) (7,619)
NET CASH USED IN INVESTING ACTIVITIES (27,618) (11,731) (7,619)
FINANCING ACTIVITIES      
Proceeds from issuance of Class A common stock to SSE Holdings upon settlement of equity awards 27,618 11,731 7,619
Proceeds from stock option exercises 1,620 744 424
NET CASH USED IN FINANCING ACTIVITIES 29,238 12,475 8,043
Effect of exchange rate changes on cash and cash equivalents 2 (3) (1)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 2,599 (480) (669)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 6,672 7,152 7,821
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 9,271 $ 6,672 $ 7,152
v3.25.0.1
SCHEDULE I: CONDENSED FINANCIAL INFORMATION OF REGISTRANT - NOTES TO CONDENSED FINANCIAL STATEMENTS (Details) - USD ($)
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
Mar. 31, 2021
Condensed Financial Statements, Captions [Line Items]        
Deferred income tax assets, net $ 341,586,000 $ 326,208,000    
Other current liabilities 19,538,000 17,103,000    
Tax receivable liability 247,734,000      
Other income, net 13,251,000 12,776,000 $ 4,127,000  
Income tax expense (benefit) $ 3,424,000 (4,010,000) (1,180,000)  
Percentage of tax benefits due to equity owners 85.00%      
Income taxes, net of refunds $ 6,531,000 4,056,000 3,731,000  
Establishment of liabilities under Tax Receivable Agreement 12,121,000 720,000 844,000  
0% Convertible Senior Notes Due 2028 | Senior Notes | Private Placement        
Condensed Financial Statements, Captions [Line Items]        
Aggregate principal amount       $ 250,000,000
Interest rate (in percent)       0.00%
Parent Company        
Condensed Financial Statements, Captions [Line Items]        
Deferred income tax assets, net 336,588,000 328,870,000    
Other current liabilities 717,000 0    
Tax receivable liability 247,734,000 235,613,000    
Intercompany revenue 6,476,000 7,971,000 2,293,000  
Equity in net income (loss) from SSE Holdings 8,558,000 10,091,000 (25,335,000)  
Other income, net 28,533,000 14,533,000 (1,767,000)  
Income tax expense (benefit) $ 6,603,000 (5,203,000) (5,783,000)  
Percentage of tax benefits due to equity owners 85.00%      
Accrued contribution related to stock option exercises $ 1,625,000 744,000 424,000  
Non-cash contribution made in connection with equity awards granted to employees of SSE Holdings 20,406,000 10,305,000 6,988,000  
Parent Company | Secondary Offering and Redemption of Units | Class A Common Stock        
Condensed Financial Statements, Captions [Line Items]        
Class A common stock issued in connection with the acquisition of LLC Interests upon redemption by the non-controlling interest holders 3,517,000 265,000 313,000  
Parent Company | Related Party        
Condensed Financial Statements, Captions [Line Items]        
Notes receivable 9,695,000 8,213,000    
Other current liabilities 32,482,000 22,027,000    
Parent Company | Affiliated Entity        
Condensed Financial Statements, Captions [Line Items]        
Notes receivable 224,879,000 216,946,000    
Parent Company | Affiliated Entity | Conversion Option        
Condensed Financial Statements, Captions [Line Items]        
Notes receivable 33,500,000 12,900,000    
Parent Company | Consolidation, Eliminations        
Condensed Financial Statements, Captions [Line Items]        
Deferred income tax assets, net (3,177,000) 4,289,000    
Intercompany revenue 6,476,000 7,971,000 2,293,000  
Equity in net income (loss) from SSE Holdings 8,558,000 10,091,000 (25,335,000)  
Other income, net 28,533,000 14,533,000 (1,767,000)  
Income tax expense (benefit) 7,466,000 3,715,000 (769,000)  
Income taxes, net of refunds 832,000 9,000 0  
Establishment of liabilities under Tax Receivable Agreement 12,121,000 720,000 844,000  
Parent Company | Consolidation, Eliminations | Related Party        
Condensed Financial Statements, Captions [Line Items]        
Notes receivable 9,695,000 8,213,000    
Other current liabilities 32,482,000 22,027,000    
Parent Company | Consolidation, Eliminations | Affiliated Entity        
Condensed Financial Statements, Captions [Line Items]        
Notes receivable 224,879,000 216,946,000    
Parent Company | Consolidation, Eliminations | Affiliated Entity | Conversion Option        
Condensed Financial Statements, Captions [Line Items]        
Notes receivable 33,500,000 12,900,000    
Parent Company | Intersegment Eliminations        
Condensed Financial Statements, Captions [Line Items]        
Fair value of receivable 33,500,000 12,900,000    
Unrealized loss on receivable 20,600,000 6,600,000 (9,700,000)  
Interest income $ 7,933,000 $ 7,933,000 $ 7,933,000  
Parent Company | Intersegment Eliminations | Related Party        
Condensed Financial Statements, Captions [Line Items]        
Notes receivable       $ 250,000
v3.25.0.1
SCHEDULE II: VALUATION AND QUALIFYING ACCOUNTS (Details) - Deferred tax asset valuation allowance - USD ($)
$ in Thousands
 12 Months Ended
Dec. 25, 2024
Dec. 27, 2023
Dec. 28, 2022
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at beginning of period $ 357 $ 9,560 $ 5,173
Charged to costs and expenses (97) (9,203) 4,955
Charged to other accounts 0 0 (568)
Balance at end of period $ 260 $ 357 $ 9,560