secwatch.observer — SEC 8-K summary
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Issuer:     Shake Shack Inc. (SHAK)
CIK:        0001620533
Form:       8-K
Filed at:   2024-08-27T23:59:59+00:00
Accession:  0001104659-24-093435
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.05, 2.06, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Shake Shack to close 9 underperforming locations; expects $28-30M pretax charges in Q3 2024
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- Nine company-owned Shacks in California, Ohio, Texas to close by Sept 25, 2024.
- Expected cumulative pretax charges of $28-30M in Q3 2024; cash costs $14-15.2M.
- Non-cash impairment charges of $14-14.8M for asset impairment and write-offs.
- Management and hourly team members offered transfers or up to 60 days pay.
- Company reaffirms FY2024 guidance and 2024 opening plans; no additional closures expected.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1620533/000110465924093435/0001104659-24-093435-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1620533/000110465924093435/tm2422794d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-093435

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