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Yahoo Finance's Rachelle Akuffo discusses Shake Shack's earnings and stock decline.
RACHELLE AKUFFO: Welcome back to Yahoo Finance. We're going to now get another check on what's been happening with earnings after the bell with our own Jared Blikre. Jared.
JARED BLIKRE: Shake Shack down about 6% in afterhours trading. And that is because of a slightly disappointing forecast for the first quarter of the current quarter. They're saying total revenue of $196 million to $201.4 million. The estimate was for higher, at $211 million. And then also for the first quarter projection, same Shack sales, high single digits to low double digits versus 2021, the estimate was for about 15%. So those low double digits not cutting it for them.
And then as far as the year forecast, they're saying domestic cooperated Shacks increased by 45 to 50. Now here are the fourth quarter results. Comp sales beat the estimates of 20.8%-- excuse me, that was the number that came out, 20.8%. The estimate was for slightly lower, 20.4%. Revenue of $203.3 million. That's up 29% year over year. Estimate was for slightly lower, $202.6 million. And then Shack sales of $195.9 million, up 28% year over year. Estimate was for just slightly lower, $195.4.
Average weekly sales, 74,000. The estimate was for 72,824, so besting that estimate. And then total location count, 369. The estimate was for 370, excuse me. And you can see the stock still down about 6 and 1/2% in afterhours trading, based probably on that weaker than expected outlook, guys.