Jan 30 (Reuters) - Shake Shack Inc’s chief executive on Friday told Reuters that investors understand that the small cult hamburger chain, whose shares soared as much as 150 percent in their first day of trading, is a “measured growth company”.
Time will tell if investors, who are hoping the company can replicate the explosive long-term growth of burrito chain Chipotle Mexican Grill, will be patient with slow growth.
Chief Executive Randy Garutti said the company’s expects low-single-digit percentage same-restaurant sales growth over the long-term.
As a result, he said, Shake Shack’s industry-leading average annual unit sales will be the main driver of growth as the 63-unit chain adds 10 domestic restaurants per year. (Reporting by Lisa Baertlein in Los Angeles; Editing by Christian Plumb)