Shake Shack slides after sales miss

Shake Shack on Wednesday reported fourth-quarter earnings that were in line with expectations, but sales that missed forecasts.

Adjusted earnings per share was $0.09, matching the forecast according to Bloomberg. Sales at stores open for at least one year increased by 1.6%, lower than the forecast for 2.9%.

The company has met or exceeded earnings expectations in all of the past six quarters.

Shake Shack shares fell by as much as 3% in after-hours trading.

More to come ...