Shake Shack Shares Slide On Subdued 2017 Revenue Outlook

Shares of Shake Shack Inc. fell in Wednesday's extended session after the casual restaurant chain issued a tepid 2017 revenue outlook. Shake Shack reported its fourth-quarter earnings rose to $5.5 million, or 15 cents a share, from $3 million, or 7 cents a share, a year ago. On an adjusted basis, it would have earned 9 cents a share. Revenue grew 43.5% to $73.3 million while same-store sales climbed 1.6%, slowing sharply from an increase of 11% a year ago. Analysts surveyed by FactSet had forecast earnings of 9 cents a share on revenue of $70.7 million. The burger chain forecast 2017 revenue in a range of $349 million to $353 million, below analysts' average estimate of $354.5 million. It also projected same-store sales of 2% to 3%. Shake Shack shares slid more than 3.7% after hours.