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.
The Cheesecake Factory (NASDAQ: CAKE) is launching two new cheesecake-flavored ice cream bars, now available in grocery stores nationwide. These bars, inspired by the brand's Original cheesecake, come in two flavors: Original and Strawberry Cheesecake, both coated in a chocolatey cookie-crunch coating. Retail price ranges from $5.49 to $5.99 for a four-pack. This rollout expands The Cheesecake Factory At Home product line, which includes premium cheesecake ice cream pints introduced in 2020. The company collaborated with Wells Enterprises, Inc. for production, aiming to enhance its retail presence.
The Cheesecake Factory Incorporated (NASDAQ: CAKE) will release its fourth quarter fiscal 2022 financial results after market close on February 22, 2023. A conference call to discuss these results will take place at 2:00 p.m. PT on the same day and will be available via webcast on the Company’s website. The Cheesecake Factory operates 319 restaurants across the U.S. and Canada, alongside 30 international locations under licensing agreements. The company was recognized on FORTUNE Magazine's 100 Best Companies to Work For list for the ninth consecutive year.
CALABASAS HILLS, Calif. — The Cheesecake Factory (NASDAQ: CAKE) has appointed Adam S. Gordon as an independent director, replacing Paul D. Ginsberg on its Board of Directors. Gordon is currently a managing director at Gordon Property Group and has extensive experience in marketing and strategic relationships, particularly in the entertainment sector. CEO David Overton praised Gordon's global marketing background. This change comes as the company continues to enhance its leadership structure, following a successful conversion of preferred stock previously held by Roark Capital Group.
The Cheesecake Factory (NASDAQ: CAKE) announced its participation in two upcoming investor conferences. The management team, including President David Gordon and CFO Matthew Clark, will engage in a fireside chat at the Stephens Annual Investment Conference from November 15-17, 2022 in Nashville, TN, and participate in meetings at the Deutsche Bank Gaming, Lodging, Leisure & Restaurant One on One Conference on November 17-18, 2022, in Palm Beach Gardens, FL. The fireside chat can be streamed live on the Company's website.