Shake Shack Provides Downward Revenue Guidance, Stock Drops
Shake Shack (NYSE: SHAK) shares fell nearly 11% after the company issued weaker-than-expected guidance for Q2 revenue and same-store sales growth. The fast-casual chain now anticipates a midpoint of 17% revenue growth instead of previously projected 19%, with same-store sales expected to rise only 2.75%. CEO Rob Lynch attributed the revision to macroeconomic uncertainty.
Tickers: $SHAK
Topics: restaurant sales guidance stock decline