Shake Shack Sales Plunge 29% in March
On Friday, Shake Shack (NYSE: SHAK) gave investors their first look at how the business fared during the initial shock related to COVID-19 store closures.
In a preliminary release of first-quarter results, the better-burger chain, which has a heavy regional focus around New York, said sales held up to expectations during January and February before slumping by 29% in March as stay-at-home recommendations swept the nation. That shift resulted in a 13% revenue drop for the full quarter and tipped the fast-food specialist into a modest operating loss.
Image source: Getty Images.
Source Fool.com
