Shake Shack Q2 Beats Street But Same-Store Sales Disappoints

Shake Shack (SHAK) - Get Report posted second quarter earnings of $0.14 a share on revenue of $66.5 million. Analysts were looking for profits of $0.13 a share on sales of $63.11 million. Last year, Shake Shack earned $0.09 a share on sales of $48.45 million in its second quarter. As for details, same-store sales increased 4.5 percent, below Wall Street's forecast of 4.9 percent. Shake Shack opened four company-operated Shacks and three licensed Shacks in the quarter. It also raised its revenue guidance for 2016 slightly to $253 million to $256 million and promised same-store sales growth between four and five percent.