After successfully opening restaurants in Russia, Turkey, London, and all over the Middle East, Shake Shack is finally paying some attention to Los Angeles. The company has announced plans to open its first location on the US west coast, in West Hollywood, next year.
The trendy, New York-based burger chain opened or licensed nearly two dozen locations in 2014, including 12 in markets outside the US, and went public in January 2015. But somehow, the farthest west the company has gotten so far in the US is Las Vegas.
In Los Angeles, the company will set up at the corner of Santa Monica Boulevard and West Knoll Drive. New Yorkers won’t recognize the outdoor patio and dedicated parking lot planned for the site. But Los Angelenos visiting the restaurant should expect what New Yorkers have long gotten used to: very, very long lines, and burgers that the company says are made from “100% all-natural, antibiotic-free Angus beef.”
Of course, there’s no shortage of burgers in LA, making the opening there something of a bold move. In addition to stalwarts like In-N-Out, the city also is home to multiple locations of the Denver-based Smashburger and Umami Burger, which started in LA. There are plenty of “under-the-radar” burgers to be found there as well.
News of Shake Shack’s impending arrival was greeted with the predictable excitement.
But this wasn’t enough to stop a 5.4% slide in the stock. The shares, which were trading at $60.21 apiece at 2:40pm in New York, fell after an analyst at Stifel Nicolaus reportedly warned that the stock price looked to be overheated.