Why Habit Restaurants Stock Was Heating Up Today
Shares of The Habit Restaurants (NASDAQ: HABT) were catching fire today after the fast-casual chain posted strong results in its third-quarter earnings report. The stock was up 15.5% as of 1:27 p.m. EDT on Thursday.
Comparable-restaurant sales at the burger chain rose 3.1%, marking its sixth consecutive quarter of comps growth, and overall revenue increased 12.2% to $117.3 million, topping estimates at $116.2 million. Comps benefited from a price increase of about 5% that the company imposed in May to counter rising wages. Traffic in the quarter fell 2.7%, but the average ticket rose 5.8%.
Image source: Habit Restaurants.
Source Fool.com
