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REPORT: Shake Shack Is Getting Ready For An IPO

Myles UdlandAug 15, 2014, 23:38 IST

Jim McIsaac / Getty ImagesShake Shack at Citi Field, where the New York Mets play their home games.

According to Reuters, Shake Shack is preparing for an initial public offering.

The report said that the New York City-based burger chain's majority owners have been interviewing investment banks in recent weeks.

Reuters said Shake Shack's earnings are supposed to be around $20 million next year.

Shake Shack's IPO would come as fast-casual restaurants like Red Robin have been under pressure, while shares of Mexican fast food chain Chipotle have been among the market's best performing stocks.

Read the whole report from Reuters here.