Fast food chain operator Shake Shack on Thursday swung to a quarterly loss and missed revenue estimates, sending its shares down 20 per cent in premarket trading.
The company also named Michelle Hook as its new CFO, effective May 11.
Shake Shack reported first-quarter revenue of US$366.7 million, missing analysts’ estimate of $371.9 million, according to data compiled by LSEG.
It reported quarterly loss per share of 1 cent, compared with a profit of 11 cents a year ago.
(Reporting by Sanskriti Shekhar in Bengaluru; Editing by Shailesh Kuber)
