Shake Shack and McDonald’s are both in the burger business. But their differences far outweigh their similarities.
“Pride in our product makes us hard to beat” sounds like something a Shake Shack executive would say today about the quality of the fast-casual concept’s food. But those comments were attributed to McDonald’s [fortune-stock symbol=”MCD”] then-senior chairman in a Fortune magazine story published in late 1979.
Sound familiar? It should. This is what Shake Shack [fortune-stock symbol=”SHAK”] CEO Randy Garutti told analysts yesterday: “Shake Shack is for people who want to understand where their food is from, and have a higher expectation of when they go out to eat a burger, where they want to get it, and are willing to pay a little more for it.” Garutti was touting the New York burger chain’s stellar first quarter, the second results issued by the company since it went public in early 2015.
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