Biglari Holdings Inc. reported company Steak ‘n Shake restaurants’ same-store sales were off 5.1% for the year ended Dec. 31, compared with annual comps decreases of 1.8% and 0.4% in 2017 and 2016, respectively. In a shareholder letter, chief executive Sardar Biglari said the company, by not updating equipment and kitchen designs, “failed customers by not being fast and friendly.” As a result, he continued, “we are determined to implement advanced production techniques” and improve service and hospitality by franchising all company-managed units to “owner-operators.”