Shake Shack (NYSE:SHAK)’s fourth-quarter results beat expectations on both the top and bottom lines, but its stock failed to sizzle Thursday.
The popular regional burger chain posted revenue of $238.5 million, compared to Street expectations of $238.2 million, and a loss of $0.06 per share, compared to the expected loss of $0.11 per share.
Shake Shack (NYSE:SHAK) stock was down almost 1% Thursday morning after opening even lower.
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"We know the dynamics the last few years have impacted our historical margin profile," CEO Randy Garutti said in a call with investors. "We're focusing our work to rebuild over the long term. We're committed to improving profitability by driving sales, emphasizing our own higher margin channels, finding cost of goods sold, labor and CapEx efficiencies, improving off-premise profitability, and utilizing strategic menu pricing."
During the quarter, the company posted an operating loss of $6.3 million, while total net loss was $11.1 million.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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