Shake Shack fell in retrospect on Thursday after the burger chain reported a decline in the same store as heavily missed expectations.
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The analysts asked by Refinitive, expected sales in restaurants open at least 12 months to increase 1.1 percent.
Shake Shack said that the decline includes a decline of 4 percent in the visitors' traffic.
] Still, it is an improvement from 1.6 percent same-restaurant sales decline in the comparable year since the quarter.
This news outweighs the expected earnings Shares Shack compared to Consensus Estimates from Refinance:
- Earnings: 21
- Revenue: $ 119.6 million vs $ 117 million
In the quarter for the quarter, Shake Shack reported adjusted earnings of 17 cents a share of revenues of $ 94.6 million.
The company also increased its full-year revenue. Shake Shack said it now expects a full-year revenue ng between $ 450 million and $ 452 million. It predicted earlier revenues between $ 446 million and $ 450 million in 2018.
CEO Randy Garutti said Shake Shack expects to open an additional 36 to 40 domestic corporate restaurants in 2019.
He also said that the company entered into licensing agreements to open more than 50 Shake Shacks in the Philippines, Mexico and Singapore during the next decade. Shake Shack expects to open its first restaurants in Singapore and Mexico in 2019.
After Thursday's end, shares in the burger chain have gained over 26 percent so far in 2018.