Shake Shack

Shake Shack is opening 11 new restaurants across the U.S. in August, with four locations launching on Aug. 12 in Texas, California, Colorado and Virginia (the latter features the state's first Shake Shack drive-thru). Additional August openings are planned in Atlanta, Orlando, Tucson, Doral and Indianapolis. The expansion follows recent openings in Elk Grove, California and Albany, New York as the company pursues a goal of operating at least 1,500 restaurants. » Mere på yahoo.com

Activist investor Jeff Smith of Starboard Value has disclosed a stake in Shake Shack that, according to Smith, amounts to several hundred million dollars. After the announcement, Shake Shack's stock rose about 6% intraday. » Mere på de.investing.com

Shake Shack reported Q2 revenue of $417.6 million, up 17.2% year-over-year, with same-Shack sales growing 3.5%. Net income fell to $15.7 million, or $0.37 per diluted share, as total expenses rose to $396.9 million driven by higher food, paper and operating costs. Adjusted EPS of $0.43 beat expectations and adjusted EBITDA rose 3.9% to $61.2 million; the company opened 16 company-operated and 11 licensed locations during the quarter. » Mere på finance.yahoo.com