Burger restaurant chain Shake Shack reported better than expected third quarter earnings after the close Monday. However $SHAK shares sold off over 16% on lower then expected same store sales, similar to McDonalds $MCD and Wendy’s $WEN
Zoe’s Kitchen Bought Out By Cava Group
Restaurant chain Zoe’s Kitchen announced Friday it has agreed to be bought out by privately held Cava Group Inc. in a deal with an enterprise value of about $300 million at $12.75 in cash for each share owned, Panera founder is involved in Cava Group.