A major Burger King franchisee in California says he can't roll out order kiosks fast enough due to the state's new $20 fast-food minimum wage [Business Insider]
Shake Shack, Inc. Class A (SHAK)
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Source: Business Insider
This includes introducing digital order kiosks to all his restaurants, the franchisee said. Restaurants are putting up prices, cutting staff's hours, and turning to tech to offset the wage. A major fast-food franchisee in California says he's rushing to roll out digital order kiosks as part of plans to cut costs over the state's new $20 minimum wage for fast-food workers "We can't move fast enough on this," Harsh Ghai told Business Insider in an interview in early April. "We have kiosks in probably about 25% of our restaurants today," he said. "However, the other 75% are going to have kiosks in the next probably 30 to 60 days." Ghai said he owns 180 fast-food restaurants in California, including about 140 Burger King locations and numerous Taco Bell and Popeyes restaurants. Ghai said that he was the largest Burger King franchisee on the West Coast, though BI was unable to independently verify this. "We are installing kiosks in every single restaurant," he said. Ghai say
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News
- Shake Shack Inc. (NYSE: SHAK) had its price target raised by analysts at UBS Group AG from $110.00 to $115.00. They now have a "neutral" rating on the stock.MarketBeat
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- Shake Shack Inc. (NYSE:SHAK) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Shake Shack Inc. (NYSE: SHAK) had its price target raised by analysts at Truist Financial Co. from $115.00 to $124.00. They now have a "buy" rating on the stock.MarketBeat
- Shake Shack Inc. (NYSE: SHAK) had its price target raised by analysts at Barclays PLC from $92.00 to $108.00. They now have an "equal weight" rating on the stock.MarketBeat
SHAK
Earnings
- 5/2/24 - Beat
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Sec Filings
- 5/3/24 - Form 4
- 5/3/24 - Form 10-Q
- 5/2/24 - Form 8-K
- SHAK's page on the SEC website