Shake Shack swings to quarterly loss, names new CFO; shares fall 20%

The logo for Shake Shack appears above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew)

Fast food chain operator Shake Shack on Thursday swung to a quarterly loss and missed revenue estimates, sending its shares down 20 per cent in premarket trading.

The company also named Michelle Hook as its new CFO, effective May 11.

Shake Shack reported first-quarter revenue of US$366.7 million, missing analysts’ estimate of $371.9 million, according to data compiled by LSEG.

It reported quarterly loss per share of 1 cent, compared with a profit of 11 cents a year ago.

(Reporting by Sanskriti Shekhar in Bengaluru; Editing by Shailesh Kuber)