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Shake Shack's business model slammed by virus as sales plunge

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The company's sales plunged 70 per cent over the last two weeks with "significant declines expected to continue as stores operate as to-go and delivery only", Credit Suisse analyst Lauren Silberman wrote. The bank downgraded its rating of shares to "neutral" from "outperform", and nearly halved its price target to US$40.

[NEW YORK] Shake Shack faces "outsized near-term risk" related to the impact of Covid-19, given its exposure to high-traffic, tourist areas and a lack of drive-thrus, analysts across Wall Street warned.

The company's sales plunged 70 per cent over the last two weeks with "significant...

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