Companies

Restaurant Chains Shake Off Spending Fears, Report Strong Sales

Wall Street had a mixed reaction.
Restaurant Chains Shake Off Spending Fears, Report Strong Sales
A view of the Cheesecake Factory in Boston, on March 26, 2020. Maddie Meyer/Getty Images
Panos Mourdoukoutas
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News Analysis

Popular restaurant chains Wingstop Inc., Cheesecake Factory, and Shake Shack reported strong sales for the fourth quarter this week, shaking off fears of a weakening economy. The restaurants’ shares, however, traded mixed, with Wingstop and Shake Shack heading south while Shake Shack traded north.

Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”