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Shake Shack Sales Plunge 29% in March

TheMotleyFool

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On Friday, Shake Shack (NYSE: SHAK) gave investors their first look at how the business fared during the initial shock related to COVID-19 store closures.

In a preliminary release of first-quarter results, the better-burger chain, which has a heavy regional focus around New York, said sales held up to expectations during January and February before slumping by 29% in March as stay-at-home recommendations swept the nation. That shift resulted in a 13% revenue drop for the full quarter and tipped the fast-food specialist into a modest operating loss.

Image source: Getty Images.

Source Fool.com

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