Shake Shack stock plunges
Burger chain Shake Shack’s stock was down about 20 percent yesterday amid concerns that a move to a single delivery provider — Grubhub — could further damage flagging sales. The company lowered its sales target, citing unforeseen difficulties with that exclusive deal with Grubhub, announced this summer. Some customers, accustomed to using delivery services like DoorDash to get their Shack burgers and concretes, complained about the switch. Shareholders are growing cautious, the Wall Street Journal reports: While sales are still up, costs are rising, too.
Shake Shack became a publicly traded company in 2015, more than doubling its share price in a big debut. The stock has been up and down since then, but even with the slip yesterday, shares are up right now, rising 47 percent in 2019.
In other news
— Post critic Steve Cuozzo has weighed in on what he thinks are overrated dining institutions a la Peter Luger, including Sylvia’s, Serendipity 3, and Rao’s.
— An Asian restaurant dream team is hosting a charity dinner this Monday, November 11 at Madame Vo BBQ with dishes from Malaysian cafe Kopitiam, Japanese dessert shop Cha-An Teahouse, Taiwanese restaurant 886, Chinese fast-casual Junzi Kitchen, and Thai stalwart Somtum Der. All proceeds benefit Apex for Youth, a nonprofit providing mentorship to underserved Asian youth; $75 tickets here.
— The chef behind popular Thursday Kitchen is plotting another Korean restaurant called Mokyo at 109 St. Mark’s Place.
— Williamsburg performance venue National Sawdust has a new Latin-inspired wine bar, Cosmico, located at 80 N. Sixth Street, from the team behind Fort Greene’s Colonia Verde.
— The Times has a profile of ex-Gramercy Tavern pastry chef Claudia Fleming, who at 60 is reissuing her cult-classic cookbook, selling the Long Island inn and tavern she’s run since 2005, and moving back to the city.
— A vegan milk substitute called Eclipse, which says it wants to be the Impossible Burger of milk substitutes — i.e. popular — will have two flavors at ice cream chain OddFellows this month.
— Wegmania continues.
— The upstate town of Argyle can now sell booze after a vote yesterday repealed a longtime dry law.
— A very good doggo: