Shake Shack Shares Slip On Weak 2017 Outlook

Shares of Shake Shack Inc. slid in Thursday's extended session after the casual restaurant chain issued a weak outlook for 2017. Shake Shack reported its second-quarter earnings rose to $4.9 million, or 19 cents a share, from $3.3 million, or 14 cents a share, a year ago. On an adjusted basis, it would have earned 20 cents a share. Analysts surveyed by FactSet had forecast earnings of 16 cents a share. Revenue grew 37% to $91.3 million, topping the $89 million projected by analysts. Same-store sales fell 1.8%. The burger chain sees 2017 revenue in a range of $351 million to $355 million, falling short of Wall Street's $356.7 million estimate while same-store sales are seen to decline 2% to 3%, worse than the analysts' expectation for 0.3% growth. Shake Shack shares edged down 0.2% after hours.