Welcome to our dedicated page for Cheesecake Factory news (Ticker: CAKE), a resource for investors and traders seeking the latest updates and insights on Cheesecake Factory stock.
The Cheesecake Factory Incorporated operates a multi-brand casual dining and bakery business built around The Cheesecake Factory restaurants, North Italia, Flower Child and other Fox Restaurant Concepts brands. Company news commonly covers quarterly results, comparable restaurant sales, restaurant openings, operating margin drivers, menu activity and guest engagement programs such as Cheesecake Rewards.
Updates also include gift card promotions, seasonal cheesecake offerings, capital returns through dividends and share repurchase authorizations, investor conference presentations and the company’s international licensing model for The Cheesecake Factory restaurants.
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The Cheesecake Factory Incorporated (NASDAQ: CAKE) announced it will release its first quarter fiscal 2023 financial results after market close on May 10, 2023. A conference call to discuss these results will take place the same day at 2:00 p.m. PT, which will be accessible via the Company's website. A replay will be available until June 9, 2023. Currently, The Cheesecake Factory operates 318 restaurants across the U.S. and Canada, with 30 additional locations internationally under licensing agreements. The Company has been recognized in the FORTUNE Magazine “100 Best Companies to Work For” list for ten consecutive years.
The Cheesecake Factory reported fourth-quarter fiscal 2022 revenues of $892.8 million, up from $776.7 million in the same quarter last year, aided by an additional week of sales. The net loss was $3.3 million, translating to $0.07 per share, largely impacted by $41.5 million in asset impairment charges. Adjusted net income was $27.4 million or $0.56 per share. Comparable restaurant sales rose 4.0% year-over-year, with a 11.4% increase compared to fiscal 2019. The company opened eight new locations and experienced strong consumer demand in its new restaurants. Liquidity as of January 3, 2023, stood at $354 million.
The Cheesecake Factory will present at two upcoming investor conferences. David Gordon, President, and Matthew Clark, CFO, will speak at the Raymond James 44th Annual Institutional Investors Conference in Orlando, FL, on March 7, 2023, at 9:50 a.m. ET. They will also participate in a fireside chat at the J.P. Morgan Gaming, Lodging, Restaurant, and Leisure Management Access Forum in Las Vegas, NV, on March 15, 2023, at 10:30 a.m. PT. Both events will be webcast, with replays available for 30 days. The company operates 319 restaurants across the U.S. and Canada and was named one of Fortune's '100 Best Companies to Work For' in 2022.