Shake Shack Shares Drop 18 Percent on Quarterly Loss
Shake Shack shares fell 18 percent after reporting a quarterly loss and missing revenue estimates on Thursday. The company also named Michelle Hook as its CFO.
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SHAKE SHACK INC - CLASS A swung to a quarterly loss and missed revenue estimates, sending shares down 18% in early morning trading. The burger chain reported adjusted EPS of $0.002, missing LSEG estimates of $0.12 as commodity costs rose. Weak consumer spending and rising fuel costs are pressuring margins across the fast-food sector.
