Shake Shack, Danny Meyer's New York-based burger giant, announced fourth-quarter earnings on Monday, posting another revenue jump and better-than-expected same-store sales growth for the year, but company expects that growth to slow down in 2016. Total revenue increased 46.8 percent to $51.1 million during the fourth quarter.
Same-store sales — sales at Shake Shack locations open for at least 24 months — increased 13.3 percent for the full 2015 fiscal year, which beat the company's post-third-quarter prediction of an 11 to 12 percent increase. In the fourth quarter, same-store sales went up by 11 percent, which compares favorably year-over-year to the 7.2 percent growth in the fourth quarter of 2014. Total sales, in turn, were $49.3 million in the quarter, a 49.2 percent increase from last year's sales of $33.1 million; that figure was largely driven by "the opening of new Shacks, robust sales at mature Shacks, as well as same-Shack sales growth," per a company release.
The earnings report beat financial analysts' expectations, according to CNBC, but Shack stock took a hit in after-hours trading. Wall Street brokers weren't as impressed by those same-store numbers, apparently.
For the 2016 fiscal year, Shake Shack predicts total revenue to land between $237 million and $242 million; it also expect same-store sales to drop into the single digits and average out at 2.5 to 3 percent.