Promotions Drive Surge in Traffic, But Margins Likely to Suffer Discounts Steak ‘N Shake Co. (SNS) shares jumped 10% today after reporting that same-store sales grew 5% in the company’s fiscal 3Q09 ended July 1. Comps surpassed recent domestic sales of the competition: McDonald’s Corporation (MCD), Burger King Holdings Inc (BKC), Wendy’s/Arby’s Group (WEN), Jack in the Box Inc (JACK) and CKE Restaurants Inc (CKR). Customer Traffic Surges 13.4%, Prices/mix Falls 8.4%. Cash-strapped customers flocked to the fast-food burger chain for its deeply discounted promotional menu items. The company celebrated its 75th anniversary on February 13th by offering steakburgers for 15 cents -- the same price they were when the chain started in 1934. From that time through March 29, the price rose only to 75 cents. While a proven way to draw new customers into the stores ...