Shake Shack Announces Fourth Annual Stand for Something Good® Summary

Summary Highlights Progress and Continued Action In Workplace, Diversity, Equity and Inclusion, Supply Chain and Sustainability Initiatives

NEW YORK–(BUSINESS WIRE)–Today, Shake Shack published its annual Stand for Something Good® Summary that provides a 2022 update of domestic, company-operated business initiatives focused on diversity, equity and inclusion, workplace benefits and compensation, supply chain, sustainability and governance. The summary also provides an update on our continued growth and menu innovations.


“Our mission since our first Shack has always been to Stand for Something Good, and that unwavering commitment is as strong as ever today. It is reflected in the dedication of every member of the Shake Shack team, our deep connection with guests, and our meaningful relationships with suppliers and our stockholders,” said Randy Garutti, Chief Executive Officer of Shake Shack. “I am grateful for our teams worldwide, who continue to embody the values we’ve had since day one. Here’s to an even brighter year ahead, together in 2023!”

Our Culture

“We’re committed to providing equal opportunities for success, removing barriers and fostering a culture of diversity, inclusion and empowerment to ensure that Shake Shack continues to be a great place to work,” said Diane Neville, Chief People Officer at Shake Shack.

  • Career Advancement: Announced more than 2,600 internal promotions, with 55% going to women and 77% going to people of color in 2022.
  • Diversity & Inclusion: Since establishing our 2025 diversity goals, we’ve increased the representation of women and people of color in Shack leadership by 33% and 18%, respectively. Our continued focus on the attraction, development and retention of diverse leadership moves us closer toward achieving our broader goals. In 2022, the Human Rights Campaign also recognized Shake Shack as a “Best Place to Work for LGBTQ+ Equality” for inclusive benefits, policies, and workplace practices.
  • Learning & Development: Enhanced talent development programs with our Shift Up, Women’s Leadership Development and New Manager Leadership Program.
  • Benefits: In addition to parental leave for birth parents and bonding time for non-birth parents, we launched reproductive health benefits for team members, which include options for family planning, coverage for pregnancy terminations and counseling support.
  • Tipping: Enabled optional tipping at most of our Shacks, giving team members the opportunity to earn more for delivering a great guest experience.

Our Dedication to the Highest Quality

We continue increasing the amount of regeneratively sourced protein added to our supply chain, which supports farming and ranching practices that deliver positive environmental, social, and economic outcomes. We have been collaborating with CreamCo and Richards Grassfed Beef, to offer a burger made with a regeneratively-raised meat patty on our menu in Northern California. In 2022, we sold nearly 48k pounds of regeneratively raised meat.

“Food is at the center of what we do. We’re committed to always sourcing real, premium ingredients to ensure our guests can feel good about what they are eating,” said Lisa Kartzman, Vice President of Supply Chain at Shake Shack. “Guided by our vision of quality and food safety, our culinary team continues to craft high-quality menu items, surprising and delighting guests with innovative recipes.”

Our Environmental Responsibility

We are finding more opportunities and ways to reduce our carbon footprint by seeking new ways to expand our use of renewable energy at Shack locations, increase resource efficiency, and identify new suppliers who share our commitment to sustainability.

“We must respect the natural environment that our business depends on to serve the food our guests love,” said Jeffery Amoscato, Senior Vice President of Supply Chain & Menu Innovation at Shake Shack. “That means we are continuously evolving our efforts to reduce our environmental footprint, focusing on critical areas such as energy efficiency, waste reduction, and collaboration with farmers, suppliers, and guests to drive meaningful change across the food industry.”

The initiatives outlined in our 2022 summary incorporate key performance indicators from the UN Sustainable Development Goals, a collection of 17 global goals set by the UN General Assembly, which serve as a call to action to ensure a better and more sustainable future.

To read the full summary, see here. For more information on Shake Shack and its mission to Stand for Something Good®, visit the Corporate Governance section of the Company’s Investor Relations website at investor.shakeshack.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to known and unknown risks, uncertainties and other important factors that may cause the Company’s actual results, performance and achievements to differ materially from the results and expectations expressed or implied in this release. All statements other than statements of historical facts included in this release are forward-looking statements, including, but not limited to, statements regarding our business plans and objectives, our strategies and systems for implementing our goals, our operations, our commitments to programs and policies, and our expectations and priorities for measuring our goals and the metrics we use with respect to corporate responsibility, sustainability and environmental matters, employees, policy, business, our supply chain standards, and other risks and opportunities. All forward-looking statements are expressly qualified in their entirety by these cautionary statements.

You should evaluate all forward-looking statements made in this press release in the context of the risks and uncertainties disclosed in the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q, as filed with the Securities and Exchange Commission (the SEC), as well as in our other public statements. All of the Company’s SEC filings are available online at www.sec.gov, www.investor.shakeshack.com, or upon request from Shake Shack Inc. The forward-looking statements included in this release are made only as of the date hereof and are not guarantees of future performance or commitments. The Company undertakes no obligation to publicly update any of the statements in this release, except as required by law.

About Shake Shack

Shake Shack serves elevated versions of American classics using only the best ingredients. It’s known for its delicious made-to-order Angus beef burgers, crispy chicken, hand-spun milkshakes, house-made lemonades, beer, wine, and more. With its high-quality food at a great value, warm hospitality, and a commitment to crafting uplifting experiences, Shake Shack quickly became a cult-brand with widespread appeal. Shake Shack’s purpose is to Stand For Something Good®, from its premium ingredients and employee development, to its inspiring designs and deep community investment. Since the original Shack opened in 2004 in NYC’s Madison Square Park, the Company has expanded to over 460 locations system-wide, including over 300 in 32 U.S. States and the District of Columbia, and over 160 international locations across London, Hong Kong, Shanghai, Singapore, Mexico City, Istanbul, Dubai, Tokyo, Seoul and more.

Skip the line with the Shack App, a mobile ordering app that lets you save time by ordering ahead! Guests can select their location, pick their food, choose a pickup time and their meal will be cooked-to-order and timed to arrival. Available on iOS and Android.

Learn more: shakeshack.com | IG: @shakeshack | t: @shakeshack | facebook.com/shakeshack

Contacts

Media:

Shake Shack

Katie Scott

[email protected]

or

Investors:

ICR

Melissa Calandruccio, CFA

Michelle Michalski

(844) SHACK04 (844-742-2504)

[email protected]

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