Shake Shack said that it closed some locations and reduced operating hours for others in June in response. However, Shake Shack’s same-store sales declines improved in May and June after plummeting 64 percent in April. Shake Shack said the city’s same-store sales fell 58% in the week ended July 1. Shake Shack had US$184 million in cash and marketable securities on hand, as of July 6. Shake Shack has also resumed development of new U.S. locations.

Source: The Standard July 07, 2020 15:56 UTC