- Shake Shack Inc (NYSE:SHAK) reported fourth-quarter FY22 sales growth of 17.4% year-on-year to $238.53 million, beating the consensus of $238.23 million.
- System-wide sales grew 15.8%, and Same-Shack sales climbed 5.1%.
- Loss from operations for the quarter was $(6.3) million versus a loss of $(6.5) million a year ago.
- The company held $230.5 million in cash and equivalents as of Dec. 28, 2022. Cash provided by operating activities for the year totaled $76.7 million.
- Adjusted EBITDA for the quarter was $19.3 million, with the margin expanding 200 basis points to 8.1%.
- Adjusted pro forma EPS loss was $(0.06) for the quarter, beating the consensus of $(0.11).
- Price Action: SHAK shares are trading lower by 1.31% at $57.92 on the last check Thursday.
Peter Schiff Mocks Bitcoin’s Surge Beyond $50K, Attributes It to ‘Four-Day’ Super Bowl And Valentine’s Day Exuberance: ‘I Wonder When the Massacre Will Begin’
Peter Schiff, a renowned economist and a critic of Bitcoin (CRYPTO: BTC), has voiced concerns over a potential pump-and-dump scenario in the cryptocurrency market, coinciding with the “ongoing four-day conference” that began on Super Bowl Sunday.
