President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Shares in Shake Shack were up more than 8 percent in extended trading.
Analysts had expected the company to report a loss of 3 cents a share on $34 million in revenue, according to a consensus estimate from Thomson Reuters.
Shake Shack announced 2015 guidance that was a little lighter than expected. Total revenue for the year is projected to be between $161 million and $165 million with sales growth in the low to mid single digits. The company also expects to open at least 10 stores throughout the year.
"We are pleased to have continued our strong momentum through the first quarter," CEO Randy Garutti said in a press release. "Our strong track record of opening successful Shacks in both the United States and internationally continues to demonstrate the global appeal of Shake Shack and validates our belief in our significant whitespace opportunity."
Shake Shack reported first-quarter sales increased 59 percent to $36 million year over year, while same-store sales rose 11.7 percent.
The company had a net loss of $12.7 million, or $1.06 per diluted share, which included $13 million in after-tax expenditures related to its initial public offering, compared with profit of $1.1 million a year earlier.
During the quarter Shake Shack opened three domestic company-operated Shacks, including a first store in Baltimore and two additional locations in the Boston market.
Shake Shack made its public debut in late January, in what S&P Capital IQ calls the best-performing IPO of 2015. Its shares have soared and more than tripled in price. Wall Street, however, is cautious on the restaurant's stock with an average "hold" rating, according to FactSet.