- Shake Shack (NYSE:SHAK) is higher after Q3 results come in strong.
- Total sales were up 67% to $53M, while same-shack sales improved 17%. Average weekly sales per U.S.-Shacks were up 9.6% to $103K. Net income was up from the year-ago period.
- The company sees opening at least 14 new domestic company-operated Shacks in 2016 after opening 12 in 2015. Eight international licensed Shacks are also forecast to be opened.
- During the earnings call, execs said the restaurant chain will increase menu prices in January to help offset labor wage increases.
- Earnings call transcript
- Previously: Shake Shack beats by $0.05, beats on revenue (Nov. 05 2015)
- SHAK +7.84% premarket to $55.00.