Consumer
Shake Shack Soars on Call for First Positive Cash Since 2017
- Cutting expenses on restaurant openings will aid performance
- Quarterly sales top estimates as other burger chains struggle
This article is for subscribers only.
Shake Shack Inc. shares surged after the burger chain forecast that for the first time since 2017 it will generate positive free cash flow on an annual basis.
The company said it will achieve this because of revenue gains and decreased costs for opening restaurants.