Reported 1 day ago
Shake Shack Inc. (SHAK) is facing significant challenges due to inflation, as discussed by Jim Cramer. Following a disappointing earnings report, the stock price dropped by 20.6%, despite exceeding revenue and EPS estimates. Cramer noted that high prices, like the $9 burger, are making it difficult for customers to afford dining out, prompting the company to advertise deals for the first time. He emphasized that many businesses are feeling the effects of inflation and are required to lower prices to remain competitive.
Source: YAHOO