Shake Shack Begins a New Era of Restaurant Development Flush With Cash

Not surprisingly, Shake Shack (NYSE: SHAK) had a terrible outing in the second quarter. Same-Shack sales, which measures an average of foot traffic and average guest spending at stores open for at least two years, were down 49%, with the better-burger chain's concentration in New York City (where same-Shack sales were down 64% from last year) contributing significantly to the metric's downfall. The numbers weren't pretty, but Shake Shack is making steady progress in most markets (not so much in New York City where same-Shack sales remained down 56% in July).