Shake Shack Reports Record Quarterly Sales, Stock Hits 2-Year High

Following a strong fourth-quarter performance, Shake Shack's stock soared, marking its best trading day ever.

Shake Shack's stock surged up to 26% to $98.67, reaching its highest level since November 5, 2021.
The company reported fourth-quarter sales of $286 million and adjusted earnings of $.02 per share, surpassing analyst expectations.
Shake Shack anticipates record sales and earnings in 2024, with projected top line growth of 13% and bottom line growth of 25%.
For the year, Shake Shack reported a profit of $19.8 million, a significant improvement from negative profits in previous years.
The company plans to open 80 new restaurants in 2024, nearly doubling its footprint from five years ago.