Top Stories | Is Shake Shack Set to Soar?, Fossil Gets Slammed
Cheddar Archive • 10m
Once called the “Tesla for burgers,” Shake Shack was supposed to revolutionize the fast food experience. But since its IPO in January of 2015, the stock has lost more than 60 percent of its value. Even still, Shake Shack’s stock looks too rich for the company’s rapidly decelerating growth. As the burger chain posts earnings on Thursday, sales growth is expected to decline from 61 percent in 2015 to 27 percent in 2016 and projected to fall further to 24 percent in 2017. The Street’s expectations for Fossil was bleak, but even analysts could not predict it was going to be as bad as the results the watchmaker posted on Tuesday. Fossil reported a drop of profits by 84 percent and cut the company’s yearly guidance in half. The stock behaved accordingly on Wednesday dropping by nearly 30 percent.
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