Tuesday, November 5, 2019

Shake Shack Cuts Key Sales Forecast, Stock Plunges

Investor's Business Daily
Shake Shack trimmed its same-store sales outlook for the full year to around 1.5%. That's down from the company's earlier expectations for around 2%. However, Shake Shack ratcheted its forecast for total revenue higher, to $592 million to $597 million.

Shake Shack defines same-store sales as sales at stores open at least two years.

For the third quarter, that metric grew 2%. A bump in consumer traffic and a menu prices helped that increase. But the figure was below Consensus Metrix forecasts for a 2.9% gain. . . . more