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Bloomberg
Shake Shack Inc tumbled in late trading after the burger-and-fries chain gave a revenue projection for 2020 that fell short of analysts’ projections.
Comparable-store sales — a key measure of restaurant and retail performance — and revenue also fell more than anticipated in the fourth quarter, as delivery growth slowed amid a shift to a partnership with Grubhub Inc. The stock fell as much as 14% in late trading.
The company is expanding in both the US and globally, and with restaurant competition as fierce as it’s ever been, investors may be spooked by any signs that sales growth is tapering off.