Shake Shack sales crush expectations
Shake Shack reported third-quarter earnings results after the closing bell on Thursday, and crushed it all around.
The burger chain reported adjusted earnings per share of $0.12, versus an $0.07 according to Bloomberg.
Same-store sales - at restaurants open for at least one year - were up 17.1%, against estimates of 10.6%.
Shake Shack is now more optimistic about its performance for the full year. It raised its guidance for 2015 revenues to a range of $189 million to $190 million (higher than the $180.1 million expected) from $171 million to $174 million.
And, same-store sales are now expected to grow by between 11% and 12% this year.
"The third quarter marked another strong quarter in terms of same-Shack sales growth, as we continued to execute on our strategic plan and drive engagement with our guests," CEO Randy Garutti said in the earnings statement.
Shares rose by as much as 5% in after-hours trading on Thursday. Shares are up about 11% from the IPO in February.
