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.
Cheesecake Factory Inc (NASDAQ: CAKE) operates a diversified portfolio of upscale casual dining concepts, including its flagship Cheesecake Factory restaurants and brands like North Italia. This news hub provides investors and industry observers with timely updates on corporate developments, financial performance, and strategic initiatives.
Access official press releases alongside curated analysis covering earnings reports, leadership changes, and operational expansions. The repository focuses on material developments including menu innovations, restaurant openings, and partnership announcements, while maintaining compliance with financial disclosure standards.
Key updates span quarterly financial results, executive appointments, and international licensing agreements through the company-owned bakery division. Content is organized to help users quickly identify developments impacting CAKE's market position in the competitive casual dining sector.
Bookmark this page for streamlined access to verified information about Cheesecake Factory's operational milestones. Combine these updates with broader market analysis to inform your understanding of CAKE's performance within the restaurant industry.
The Cheesecake Factory (NASDAQ: CAKE) is making significant strides in animal welfare by working to eliminate gestation crates from its pork supply. The company aims to transition 75% of its U.S. pork supply to be fully gestation crate-free by the end of 2022. This effort is supported by partnerships with strategic suppliers, who are aligning with standards that protect breeding sows. The Humane Society of the United States has commended this progress, highlighting the importance of animal welfare within The Cheesecake Factory's supply chain.
The Cheesecake Factory (NASDAQ: CAKE) is celebrating Mother's Day by offering a special promotion on gift cards. Customers who purchase $50 in gift cards online from April 28 to May 8, 2022, will receive a $10 Bonus Card, redeemable from May 9 to June 9, 2022. This promotion aims to enhance online sales while catering to customers looking for thoughtful gifts. The Cheesecake Factory continues to focus on high-quality dining experiences, boasting over 250 menu items and a reputation for legendary desserts.
The Cheesecake Factory reported a 27% increase in consolidated revenues, reaching $793.7 million for Q1 fiscal 2022, compared to $627.4 million in Q1 fiscal 2021. Net income was $23.2 million, or $0.45 per share. Adjusted net income, excluding a $0.8 million charge, was $24 million or $0.47 per share. Comparable restaurant sales rose by 20.7% year-over-year. The company announced a quarterly dividend of $0.27 per share and reinstated its share repurchase program, while planning to open up to 16 new restaurants in fiscal 2022.
The Cheesecake Factory (NASDAQ: CAKE) has committed to reducing its carbon emissions in alignment with the Paris Agreement and aims for net zero emissions by 2050. The company plans to submit its reduction targets for validation by the Science Based Targets Initiative (SBTi) and has established a dedicated sustainability department over the past decade. This commitment reflects its legacy in environmental sustainability, including sustainable sourcing tied to executive bonuses. Leading sustainability advocates commend the company's measurable goals and proactive approach.
The Cheesecake Factory (NASDAQ: CAKE) will announce its first quarter fiscal 2022 financial results after market close on April 27, 2022. A conference call is scheduled for the same day at 2:00 p.m. Pacific Time to discuss these results, accessible via the company’s investor website. The Cheesecake Factory operates 306 restaurants across the U.S. and Canada and has a bakery division producing cheesecakes and baked goods. The company has been recognized in the FORTUNE Magazine’s “100 Best Companies to Work For” list for eight consecutive years.
The Cheesecake Factory (NASDAQ: CAKE) announced its commitment to transition to cage-free eggs by the end of 2022, three years ahead of schedule. This initiative targets all eggs used in their baked goods worldwide. The company has already achieved its goal in U.S. and Canadian operations. The Cheesecake Factory is also collaborating with international licensees to adopt cage-free eggs by or before 2030, reaffirming its dedication to sustainable sourcing and animal welfare.
Terranova Corporation announced that The Cheesecake Factory (NASDAQ: CAKE) has signed a lease for a new location at 600 Lincoln Road, Miami Beach, set to open in Fall 2022. The restaurant will occupy 7,000 SF and hire over 200 local staff. Chairman Stephen Bittel highlighted the lease as a testament to the company's commitment to enhancing the community, amidst a strong local economy. The Cheesecake Factory aims to provide memorable dining experiences for residents and tourists. Terranova's successful tenant strategy on Lincoln Road continues to attract notable brands, supporting community growth.
CALABASAS HILLS, Calif.--(BUSINESS WIRE)--The Cheesecake Factory Incorporated (NASDAQ: CAKE) announced its participation in the Raymond James 43rd Annual Institutional Investors Conference on March 8, 2022, at 9:50 a.m. Eastern Time. David Gordon, President, and Matthew Clark, Executive VP and CFO, will represent the company. The presentation will be available via webcast on the company’s website, with a replay accessible for seven days. The Cheesecake Factory operates 306 restaurants in the U.S. and Canada, emphasizing experiential dining and hospitality.
The Cheesecake Factory reported a strong fourth quarter for fiscal 2021, with revenues reaching $776.7 million, up 40% year-over-year from $554.6 million. Net income for the quarter was $2.1 million or $0.04 per share, while adjusted net income was $24.9 million or $0.49 per share, after accounting for $29.1 million in pre-tax charges. Comparable restaurant sales increased 33.8% year-over-year and 7.7% compared to Q4 2019. The company opened four new locations and had $430 million in available liquidity, indicating a robust financial position.
The Cheesecake Factory (NASDAQ: CAKE) will release its fourth quarter fiscal 2021 financial results on February 16, 2022, after market close. A conference call to discuss these results is scheduled for 2:00 p.m. Pacific Time on the same day. The call will be webcast and available for replay until March 18, 2022. The company operates 308 restaurants in the U.S. and Canada and has been recognized by FORTUNE Magazine as one of the 100 Best Companies to Work For for eight consecutive years.
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