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Same-store sales, a highly-monitored industry measure, advanced 3.6% in the quarter, exceeding analysts' expectations of 0.8% growth.
Shake Shack shares rose more than 6% after hours.
Shake Shack announced adjusted earnings of 13 per share, which is in line with consensus estimates. Revenues also exceeded estimates at $ 128.6 million. Analysts were forecasting revenue of $ 127.22 million.
The hamburger chain has raised its forecasts for the rest of the year. Shake Shack forecasts revenues of between $ 576 million and $ 582 million, up from $ 570 million previously expected. In addition, the company expects like-for-like sales growth of 1% to 2% year-round, up from the previously stable steady growth rate. or 1%.
"Based on our first quarter results, we are increasing both our overall revenue and our identical sales forecast to Shack for the year," said CEO Randy Garutti in a statement. "We are about to open 36 to 40 new cabins belonging to the company, making it our most important class to date. We are also planning to open 16 to 18 new net licensed cabins, with our international growth focused on Asia and our new markets in mainland China, Singapore, the Philippines and Mexico. The year 2019 has started well, as we remain focused on delivering our key strategic commitments that will continue to drive growth. "
A ShackBurger, cheese fries and milkshake. Photographer: Luke Sharrett / Bloomberg via Getty Images
Garutti also attributed the growth of his digital channels and said he was considering other important possibilities in this space.
Shake Shack will hold his results teleconference at 5 pm AND.
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