Shake Shack Begins Launching New Shacks Again
Fast-casual restaurant chain Shake Shack (NYSE: SHAK) published a business update today in which it revealed it has started opening new restaurants, or "Shacks," even before the continuing effects of the coronavirus pandemic have ended. The company also provided a sales update ahead of its planned July 30 second-quarter earnings report and earnings conference call.
The press release notes that six Shacks remain temporarily closed for both dine-in and to-go service in the wake of COVID-19, though this is only about a third of the 17 Shacks fully closed earlier in the pandemic. Shake Shack says it recently had 60% of its dine-in facilities reopened, though at reduced capacity. However, some of its restaurants have closed their dining rooms again since, falling back on a to-go only model, as COVID-19 cases spike again across the American South and Southwest.
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Source Fool.com
