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. » More on 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. » More on 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. » More on finance.yahoo.com

Madison Small Cap Fund flagged Shake Shack as its worst-performing consumer discretionary holding after the chain undercut market expectations. Management accelerated restaurant openings, raising operating costs and denting near-term earnings and cash flow, while same-store sales remained solid. The fund nevertheless calls the stock an attractive value given revenue outperformance and significant unit growth opportunity; Shake Shack closed July 16 at $59.23 with a $2.53 billion market cap and a 52-week decline of 56.08%. » More on finance.yahoo.com

Shake Shack has appointed Christiane Pendarvis to its board of directors effective July 2. Pendarvis brings more than 25 years of retail and consumer goods experience, most recently as co‑CEO of PATTERN Beauty and previously in leadership roles at Savage X Fenty, Victoria’s Secret and other brands. The appointment is intended to support management in expansion and in boosting profitable growth, while Shake Shack faces a stock decline despite rising revenue. » More on de.investing.com