Shake Shack Inc. shares fell nearly 7% Monday after the fast-casual restaurant chain gave Wall Street a soft outlook for its same-store sales this year. The company swung to gains in the fourth quarter, reporting a net income of $1.2 million, or 7 cents a share, for the quarter, compared with a net loss of $1.4 million, or 5 cents a share, for the same period last year. Adjusted for one-time items, the company reported earnings of 8 cents a share in the quarter. Total revenue reached $51.1 million in the quarter, up 47% from $35 million in the year-ago period. Analysts polled by FactSet had expected the company to report earnings of 7 cents a share on sales of $50.3 million. Same-store sales rose 11%, the fast-casual restaurant said. The company said it expects to open restaurants in several new cities this year, including the Los Angeles area, and it also plans to enter South Korea, with a partner. Shake Shack predicted total revenue between $237 million and $242 million for fiscal 2016, whereas analysts had expected sales of $240 million for the year. Same-store sales are expected to grow between 2.5% and 3% in 2016, the company said; that contrasts with expectations of 3.1% same-store sales growth for the year, according to FactSet. Shares of Shake Shack had ended the regular trading session up 0.6%.
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