NEW YORK (AP) _ Shake Shack Inc. (SHAK) on Thursday reported a second-quarter loss of $16.2 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the New York-based company said it had a loss of 43 cents. Losses, adjusted for non-recurring gains, were 45 cents per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 40 cents per share.
The burger chain posted revenue of $91.8 million in the period, which also missed Street forecasts. Nine analysts surveyed by Zacks expected $93.3 million.
Shake Shack shares have decreased slightly more than 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $55.22, a drop of 27% in the last 12 months.