Shake Shack restaurant sales disappoint, stock drops

August 10, 2016 8:24 PM

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Shake Shack restaurant sales disappoint, stock drops

Shake Shack Inc (SHAK.N), known for indulgent antibiotic-free hamburgers, crinkle-cut fries and frozen custard shakes, on Wednesday reported a weaker-than-expected rise in quarterly sales at established restaurants.

Shares in the company tumbled 8.7 percent to $37.30 in extended trading after the chain said closely watched same-restaurant sales were up 4.5 percent during the second quarter. Analysts had expected a 5.4 percent rise, according to research firm Consensus Metrix.

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