Shake Shack shares SHAK, -1.seventy one% fell greater than eight% in after-hours trading Wednesday as the corporate stated slower same-restaurant gross sales growth as in comparison with a 12 months in the past. the company mentioned it earned $ 3.3 million, or 14 cents a share, in the 2nd quarter, when put next with $ 1.1 million, or 8 cents a share, in the identical quarter closing year. sales rose 37% to $ sixty six.5 million, up from $ forty eight.5 million a yr in the past. Analysts polled via FactSet had expected the restaurant chain to file cash of 13 cents a share on gross sales of $ 63.1 million. related-store gross sales elevated four.5% for the quarter, against 12.9% increase within the 2d quarter of remaining 12 months and the four.8% that analysts had forecast for the quarter. average weekly gross sales for domestic shops have been stagnant on a quarter-on-quarter basis. Shake Shack ended the regular trading session down down 1.7%.
Shake Shack shares fall as company reports slower sales growth