- Shake Shack CEO Rob Lynch talked plans to expand across the country and internationally, suggesting the burger chain fits into a "fine casual" dining niche not occupied by many in the industry.
- Nearing ten years on the market, Shake Shack started business in New York City as part of restauranteur Danny Meyer's empire.
- Shares jumped on Wednesday after the chain reported an earnings beat.
In a Wednesday interview with CNBC's Jim Cramer, Shake Shack CEO Rob Lynch discussed plans to expand across the country and internationally, suggesting the burger chain fits into a "fine casual" dining niche not occupied by many in the industry.
"We have big aspirations, you know. My goal is to bring Shake Shack to the world," Lynch said. "I don't think there is a competitor for Shake Shack. We talk about ourselves as being a part of the fine casual movement; leading the fine casual movement."
Nearing ten years on the market, Shake Shack started business in New York City as part of Danny Meyer's restaurant empire. Meyer is locally well-known for several notable eateries across the city in a range of price brackets, including Union Square Cafe and Michelin star recipient Gramercy Tavern.
Lynch said Shake Shack currently has about 330 company restaurants. It reported an earnings beat on Wednesday and finished the session up 7.79%.
Lynch said many eat at Shake Shack when they are on vacation in places like New York or California, adding that the chain has outposts in high-traffic airports JFK, LaGuardia and Newark. But he stressed that he wants to change that dynamic and said the company is experimenting with new formats like drive throughs.
Lynch said Shake Shack has locations in about 25 countries across the Middle East and Asia, as well as in the U.K. He noted that "continental Europe is still wide open" but posited that management has been careful about where they choose to open new restaurants and with whom they partner.
Money Report
"We've been very choiceful," he said. "Now's our opportunity to leverage all of that and start opening up new markets and bringing Shake Shack to a lot more countries."
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