Shake Shack Stock fell 20 percent over Grubhub's delivery strategy
Shake Shack stock plunges
Burger chain Shake Shack shares were down around 20 percent yesterday amid concerns that a move to a single supplier – Grubhub – could hurt flag sales further. The company lowered its sales target, citing unforeseen difficulties with the exclusive deal with Grubhub, announced this summer. Some customers, accustomed to using delivery services such as DoorDash to get Shack burgers and servants, complained about the switch. Shareholders are growing cautiously, reports Wall Street Journal : While sales are still up, costs are also increasing.
Shake Shack became a listed company in 201[ads1]5, more than doubling the share price of a major debut. The stock has been up and down ever since, but even with the release yesterday, stocks are up right now, increasing by 47 percent in 2019.
In other news
– Posts critic Steve Cuozzo has weighed in on what he believes are overrated eateries a la Peter Luger, including Sylvia & # 39; s Serendipity 3 and Rao & # 39; s .
– An Asian restaurant dream team is hosting a charity dinner this Monday, November 11 at Madame Vo BBQ with dishes from Malaysian cafe Kopitiam Japanese dessert shop Cha-An Teahouse Taiwanese Restaurant 886 Chinese Fast Accident Junzi Kitchen and Thai Stalwart Somtum There . All proceeds benefit Apex for Youth, a nonprofit that provides mentorship to undervalued Asian youth; $ 75 tickets here.
– The chef behind the popular Thursday kitchen is planning another Korean restaurant called Mokyo at 109 St. Mark's Place.
– Williamsburg exhibit National Sawdust has a new Latin-inspired wine bar, Cosmico located at 80 N. Sixth Street, from the team behind Fort Greene & # 39; s Colonia Verde.
– The Times has a profile of ex-Gramercy Tavern pastry chef Claudia Fleming who 60 years publishes her cult classic cookbook which sold the inn and inn on Long Island she has been operating since 2005, moving back to the city.
– A vegan milk substitute called Eclipse who says it will be the impossible citizen of milk substitutes – ie popular – will have two flavors at the OddFellows ice cream chain this month.
– Wegmania continues.
– Upstate town of Argyle can now sell liquor after a vote yesterday repealed a protracted dry law.
– A very good doggo:
