Retail

Shake Shack shares fall 13% as same-store sales growth disappoints

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Pedestrians walk in front of a Shake Shack location in New York.

Scott Mlyn | CNBC

Shake Shack shares fell more than 14% in extended trading Monday after the company reported third-quarter earnings that beat analysts’ expectations, but turned in disappointing same-store sales growth.

Revenue was in-line with expectations, but same-store sales rose 2.0%, shy of the 2.5% growth analysts predicted.

Here’s what the company reported compared to what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: 26 cents, adjusted, vs. 20 cents expected
  • Revenue: $157.8 million, vs. $157.8 million expected

Shake Shack said its net income rose to $11.4 million, or 31 cents…



Source cnbc.com

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