Overview
- Investors pushed the stock down about 20% in premarket trading after Thursday's report showed weaker profit and sales than expected.
- The company logged a net loss of about $290,000, equal to a loss of 1 cent per share, as higher food and overhead costs outpaced sales growth.
- Revenue reached $366.7 million, short of analyst targets near $371 million based on surveys from LSEG and Zacks.
- Results reversed from a profit of 11 cents per share a year earlier, and adjusted earnings were under 1 cent versus an 11-cent forecast.
- Shake Shack named Michelle Hook as chief financial officer, with the appointment taking effect May 11.