Shake Shack CEO says chain has ensured 'long-term stability,' will be returning $10 million PPP loan [MSNBC.com]
Shake Shack, Inc. Class A (SHAK)
Last shake shack, inc. class a earnings: 2/24 04:05 pm
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Source: MSNBC.com
Shake Shack"We've ensured our long-term stability, now it's time for us to help our friends in the industry do the same," Garutti said on CNBC's "Squawk on the StreetThe burger chain disclosed in a regulatory filing on Friday that it had received $10 million from the federal program. Shake Shack also said Friday that it is planning on selling up to $75 million in shares to strengthen its cash position.Garutti said that the company initially applied for a PPP loan to keep as many of its employees as possible. Shake Shack has furloughed more than 1,000 employees and closed 17 company-operated U.S. locations, as of Friday.On Sunday evening, Garutti and Shake Shack's founder and chairman Danny Meyer, who owns roughly 7.8% of the company's shares,said that the chain would be returning the $10 million"Our understanding is that by giving it back, which we will do, is that it will go back into the pot," Garutti said on Monday.While the program was intended for small businesses, large restaura
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SHAK
News
- Shake Shack to Participate in Upcoming December Investor ConferencesBusiness Wire
- I tried the biggest burgers at 5 fast-food chains and ranked them from worst to best [Business Insider]Business Insider
- Should Shake Shack's (SHAK) Revenue Outlook and CFO Departure Prompt Investor Attention Now? [Yahoo! Finance]Yahoo! Finance
- Shake Shack (NYSE:SHAK) had its "strong-buy" rating reaffirmed by analysts at Raymond James Financial, Inc..MarketBeat
- Shake Shack (NYSE:SHAK) had its "hold" rating reaffirmed by analysts at Jefferies Financial Group Inc..MarketBeat
SHAK
Earnings
- 10/30/25 - Beat
SHAK
Sec Filings
- 11/26/25 - Form 4
- 11/25/25 - Form 144
- 11/25/25 - Form 8-K
- SHAK's page on the SEC website