We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
On Friday, shares of fast casual burger joint Shake Shack Inc. (SHAK - Free Report) are tanking, down almost 7% in morning trading after the company announced some major management shakeups.
Shake Shack named company veteran Zach Koff as its first Chief Operating Officer. Koff has been leading operations at the company since it opened its fourth restaurant, and has been a member of Shake Shack’s executive team since its IPO in 2015. In the new COO role, Koff will be focused on making sure new Shacks run as smoothly and as efficiently as existing Shacks.
Shacks Shack also announced that Chief Financial Officer Jeff Uttz will retire, but will remain in his role through mid-March. Uttz has been the CFO since 2013, and like Koff, helped Shake Shack with its initial public offering. There is no word on who will replace him yet, though there is a search for a successor currently underway.
In other company news, Delish reports that Shake Shack “has been slowly hiking its pricing over the last month by about 36 cents, and may push them again soon.” However, these price hikes are helping boost wages for its employees.
Shake Shack customers can expect to pay roughly 10 cents more per burger, and about 26 cents more per Chick’n Shack. Fries, frozen custard, and concrete shakes have yet to see any price hikes.
Which Stocks are Zacks Experts Talking About?
Stocks in today's headlines may be tempting buys, but how would you like a sneak peek at the stocks Zacks experts recommend? Starting today, for the next month, you can follow all of Zacks' private buys and sells in real time. You can track value and momentum stocks, ETFs, stocks under $10, options moves, insider trades, and stocks set to report positive earnings surprises (we've called them with 80%+ accuracy). Click here for all Zacks trades >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's Why Shake Shack is Tanking Today
On Friday, shares of fast casual burger joint Shake Shack Inc. (SHAK - Free Report) are tanking, down almost 7% in morning trading after the company announced some major management shakeups.
Shake Shack named company veteran Zach Koff as its first Chief Operating Officer. Koff has been leading operations at the company since it opened its fourth restaurant, and has been a member of Shake Shack’s executive team since its IPO in 2015. In the new COO role, Koff will be focused on making sure new Shacks run as smoothly and as efficiently as existing Shacks.
Shacks Shack also announced that Chief Financial Officer Jeff Uttz will retire, but will remain in his role through mid-March. Uttz has been the CFO since 2013, and like Koff, helped Shake Shack with its initial public offering. There is no word on who will replace him yet, though there is a search for a successor currently underway.
In other company news, Delish reports that Shake Shack “has been slowly hiking its pricing over the last month by about 36 cents, and may push them again soon.” However, these price hikes are helping boost wages for its employees.
Shake Shack customers can expect to pay roughly 10 cents more per burger, and about 26 cents more per Chick’n Shack. Fries, frozen custard, and concrete shakes have yet to see any price hikes.
Which Stocks are Zacks Experts Talking About?
Stocks in today's headlines may be tempting buys, but how would you like a sneak peek at the stocks Zacks experts recommend? Starting today, for the next month, you can follow all of Zacks' private buys and sells in real time. You can track value and momentum stocks, ETFs, stocks under $10, options moves, insider trades, and stocks set to report positive earnings surprises (we've called them with 80%+ accuracy). Click here for all Zacks trades >>