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Shake Shack: The Plot, Like a Concrete, Thickens

Saturday 17:16 GMT

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• Shake Shack (SHAK) directed investors toward flat-same store sales for the year, including December price increases, for example—and another slide in average unit volume and what it calls “Shack-level operating profit margins,” a nonstandard accounting shorthand. (The current storecount is at roughly 90 company-owned, and 70 licensed, shacks.)

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