Shake Shack slips 11% after revenue forecast misses lowest Wall Street estimate (SHAK)

John Locher/AP

• Shake Shack plunged as much as 11% after reporting lower-than-expected revenue for its fiscal fourth quarter.
• The restaurant chain's 2020 revenue forecast also disappointed, missing the lowest estimate among Wall Street analysts.
• Shake Shack could see a dent to near-term performance from its investments in new items and locations, but "the company will ultimately benefit from this strategy," CEO Randy Garutti said in the report.
• Watch Shake Shack trade live here.

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Shake Shack reported 2020 revenue guidance on Monday that fell below Wall Street's lowest estimate.

The restaurant chain's fiscal fourth-quarter revenue fell below expectations, while earnings per share trounced analysts' projection for a quarterly loss. Same-store sales, for locations open for at least two years, fell more than anticipated in the quarter ending December 25.See the rest of the story at Business Insider

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