Shake Shack Inc. stock SHAK slid 1.7% in premarket trade Tuesday, after the burger chain offered same-restaurant guidance for the fourth quarter and 2022 that lagged consensus. The New York-based company said it expects same-shack sales to rise 5.1% in the quarter and 7.8% for the year. The FactSet consensus is for a rise of 6.1% for the quarter and 8.1% for the year. The company expects fourth-quarter revenue of $238.5 million, while FactSet calls for $238.0 million. For the full year, it expects revenue of $900.5 million, compared with a FactSet consensus of $899.0 million. The number were released ahead of a presentation at the Annual ICR Conference later Tuesday in Florida. The stock is down 30% in the last 12 months, while the S&P 500 SPX has fallen 17%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.