: Shake Shack same-restaurant sales lag estimates

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Shake Shack Inc. stock SHAK, +3.55% slid 1.7% in premarket trade Tuesday, after the burger chain offered same-restaurant guidance for the fourth quarter and 2022 that lagged consensus. The New York-based company said it expects same-shack sales to rise 5.1% in the quarter and 7.8% for the year. The FactSet consensus is for a rise of 6.1% for the quarter and 8.1% for the year. The company expects fourth-quarter revenue of $238.5 million, while FactSet calls for $238.0 million. For the full year, it expects revenue of $900.5 million, compared with a FactSet consensus of $899.0 million. The number were released ahead of a presentation at the Annual ICR Conference later Tuesday in Florida. The stock is down 30% in the last 12 months, while the S&P 500 SPX, -0.08% has fallen 17%.

This article was originally published by Marketwatch.com. Read the original article here.

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