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Shake Shack Shares Fall , Revenues Up 44%

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Shares of popular fast food restaurant Shake Shack Inc (NYSE: SHAK) are falling, despite a sales beat on the company's fourth quarter release. Shake Shack saw total revenues increase 43.5 percent of sequential growth in quarter.

  • Shake Shack reports Q4 Adj. EPS of $0.09, coming in line with consensus estimates
  • Sales in Q4 were $73.3M, beating by $2.62 million
  • Raises FY17 sales target to $349-$353 million
  • Sees same-store sales growth of 2-3% in FY17

"I am proud of what our team has achieved in our second full year as a public company," CEO Randy Garutti said. "I'm especially pleased given the challenging industry backdrop in retail and restaurants. And, we achieved all of this while furthering our commitment to growing in premier locations, and building an even better team member and guest experience that fosters the long term strength of the Shake Shack brand for years to come. Looking ahead, 2017 is shaping up to be an exciting year of growth with a strong pipeline of new domestic openings, as well as the evolution of the Shack App, which is just one part of our long term strategy to meet our guests, whenever, and wherever they are."

The stock traded recently at $34.33, down about 5 percent after hours.

Posted-In: BZTVEarnings News Guidance After-Hours Center Movers

 

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