Categories AlphaGraphs, Consumer, Earnings

Shake Shack (SHAK) slips to a loss in Q1 but beats estimates

Shake Shack Inc. (NYSE: SHAK) reported its financial results for the quarter ended March 25, 2020, on Monday after the bell. The bottom line exceeded analysts’ expectations while the top-line missed consensus estimates.

Shake Shack slipped to a loss in the first quarter of 2020 from a profit last year due to the inclusion of a non-cash asset impairment charge. The company experienced weakness in sales deleverage resulting from the impact of COVID-19, which was partially offset by food and paper costs.

Shack sales rose by 7.4% due primarily to the opening of 38 new domestic company-operated Shacks, partially offset by a decline in same-Shack sales. As of March 25, 2020, 12 Shacks were temporarily closed due to COVID-19.

Shake Shack (SHAK) Q1 2020 earnings review

Same-Shack sales decreased by 12.8% due to the adverse impact of reduced traffic during the second half of March 2020 resulting from the coronavirus pandemic. The decrease was primarily driven by a 14.9% decrease in guest traffic partially offset by a combined increase of 2.1% in price and sales mix.

Given the substantial uncertainty and subsequent material economic impact caused by the COVID-19 pandemic, the company has withdrawn its guidance for fiscal 2020.

Past Performance

Most Popular

Micron Technology (MU) Q3 Earnings: Key financials and quarterly highlights

Micron Technology Inc. (NASDAQ: MU) reported third quarter 2022 earnings results today. Revenue increased 16% year-over-year to $8.64 billion. GAAP net income was $2.63 billion, or $2.34 per share, compared

Constellation Brands (STZ): Earnings beat and share structure revamp put brewer in the spotlight

Shares of Constellation Brands Inc. (NYSE: STZ) were down 4% on Thursday despite the company beating expectations on its first quarter 2023 earnings results. The stock has dropped 7% year-to-date.

Infographic: Key highlights from Constellation Brands (STZ) Q1 2023 earnings results

Constellation Brands, Inc. (NYSE: STZ) reported first quarter 2023 earnings results today. Net sales increased 17% year-over-year to $2.3 billion. Net income attributable to CBI was $390 million, or $2.06

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top