Shake Shack: Bullish If You Can Look Past The Trees To See The Forest

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About: Shake Shack Inc. (SHAK), Includes: CMG, MCD, WE
by: Eclipse Investments
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Eclipse Investments
Long/short equity
Summary

Shake Shack is on the edge of what is potentially a multi-year growth run.

Store expansion will go higher than 56-60 as store development team builds out.

Same-store-sales-growth is under-appreciated due to huge optionality around brand and product.

Valuation is undemanding if you can look past the trees to see the forest.

(Source: Shake Shack)

Shake Shack (SHAK) is on the edge of potentially what is a multi-year run in top-line growth, primarily from expanding its footprint domestically and internationally. It has the right product