This is not a drill. To celebrate the opening of its 100th location at the Boston Seaport, Shake Shack (SHAK) is giving away free burgers to the first 100 guests at all its locations on Tuesday August 16, the company said.
All Shake Shack restaurants in the U.S. will open at 10:30 a.m. that day. The promotion ends at 12 p.m. and excludes stadiums and ballparks.
CEO Randy Garutti called the 100th store opening an “epic milestone.”
“We’re overwhelmed by the love and enthusiasm from our fans around the world, and this moment wouldn’t be possible without them,” Garutti said. “Here’s to bringing more Shacks to local communities around the world!”
Shake Shack founder Danny Meyer’s Union Square Hospitality Group opened the chain’s first location in 2004 in Madison Square Park. It initially began three years before as a hot dog cart to support Madison Square Park Conservancy’s first art installation.
Since then, the chain has expanded to London, Tokyo, Istanbul, and other international locations, along with 15 U.S. states and Washington, D.C.
Last quarter, Shake Shack’s shares fell by 8.7 percent to $37.30, despite a 37% total revenue increase. Shares were once valued at $100 in May last year, but have stagnated below $40 since the beginning of the year. Around the time its shares peaked, each Shake Shack restaurant was reportedly worth $53 million.
