The new St. Louis-area location for Shake Shack, the burgers-and-milkshakes chain founded by St. Louis native Danny Meyer, follows restaurant-industry pandemic trends by including a drive-thru.
Several restaurant stocks, including Shake Shack (NYSE: SHAK), Bloomin' Brands (NASDAQ: BLMN), and BJ's Restaurants (NASDAQ: BJRI) fell hard this week, declining by between 5% and 15% through Thursday trading compared to a 6% slump in the S&P 500, according to data provided by S&P Global Market Intelligence. Wall Street is also increasingly concerned about a recession on the way that might disproportionately hurt these consumer discretionary businesses. Shake Shack, Bloomin' Brands, and BJ's Restaurants each cater to different customers.
Wendy's new strawberry frosty has some fruity competition — the return of Chick-fil-A’s Peach milkshake.