Shake Shack Foresees Roadblocks to Rebound Hopes
Shake Shack (NYSE: SHAK) is opening new stores again, but the COVID-19 pandemic might continue pressuring its results even after its peers return to growth.
Executives from the fast-casual burger specialist spoke at an investor conference on Wednesday and delivered mixed news for shareholders. The company has resumed its development schedule, CEO Randy Garutti said, although at a slower pace than the initial 40-unit launch rate that management issued for 2020. That's good news because most of Shake Shack's growth potential relies on its ability to greatly expand on its current level of just under 300 locations.
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Source Fool.com