Notable Hit 1: (SHAK:NYSE) On Thursday February 15, 2024 Shake Shack Inc. (SHAK) posted revenues of $286.2 mm surpassing the analysts estimate by 2.1% and in the same direction as Advan's forecasted sales. Advan's foot traffic data showed 5% increase YoY at its stores in Q4 2023; the company's revenue increased 20% YoY. The stock next day was up +25%. Advan's footfall data has a correlation of 0.96 on a YoY basis with SHAK's top-line revenue over the last 15 quarters.
Notable Hit 2: (DENN:NASDAQ) On Tuesday February 13, 2024 Denny's Corporation (DENN) posted revenues of $115.35 mm missing the analysts estimate by 1% and in the same direction as Advan's forecasted sales. Advan's foot traffic data showed 4.6% decrease YoY at its restaurants in Q4 2023; the company's revenue decreased 4.5% YoY. As a result, the stock next day opened down -8.8% from previous close. Advan's footfall data has a correlation of 0.95 on a YoY basis with DENN's top-line revenue over the last 16 quarters.
