Shake Shack stock surges 20% on fourth-quarter profit, strong 2024 outlook
Publishing timestamp: 2024-02-15 11:55:14
Summary
Shake Shack shares surged 20% after the company reported strong fourth-quarter earnings results. The company exceeded revenue expectations and reported a net income of $6.8 million, compared to a loss the previous year. Shake Shack also announced plans to open 80 new restaurants in 2024 and expects to grow total revenue by 11% to 15%. CEO Randy Garutti expressed optimism for the future and highlighted the success of their sales-driving strategies.
Sentiment: POSITIVE
Tickers: SHAK,
Keywords: earnings, breaking news: business, dividends, retail industry, business, shake shack inc, restaurants, business news,
Source: https://www.cnbc.com/2024/02/15/shake-shack-shak-earnings-q4-2023.html