Reported 1 day ago
Shake Shack reported strong preliminary fourth quarter results, with a 4.3% same-store sales increase and a 15% year-over-year revenue growth, reaching $328.7 million. Despite the positive results, stock shares declined as investors remained skeptical. CEO Rob Lynch highlighted the company's goal of reaching over 1,500 locations and expanding internationally through licensing, targeting 35-40 new licensed restaurants this year in untapped regions. The company also plans to innovate its menu while navigating challenges such as wage inflation and commodity cost fluctuations.
Source: YAHOO