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 has completed offerings totaling $520 million, comprising $345 million in convertible senior notes and $175 million in common stock. The proceeds funded the repurchase of preferred shares, simplifying the capital structure. The company repaid $150 million of its revolving credit facility, reducing the balance to $130 million. With cash on hand of $144 million, it aims to maintain $125 million. The effective interest expense related to the notes is estimated at 1% annually. Post-offering, diluted shares outstanding are expected to rise to 51.5 million.
The Cheesecake Factory announced concurrent public offerings of $300 million of 0.375% convertible senior notes due 2026 and 3.125 million shares of common stock at $56.00 per share. The net proceeds from the offerings are estimated at approximately $457.4 million, aimed at repurchasing preferred stock and repaying debt. The notes will accrue interest at 0.375% per annum and are redeemable after June 20, 2024. The company also initiated a preferred stock repurchase of 150,000 shares for approximately $447 million, scheduled to close on June 15, 2021.
The Cheesecake Factory announced plans to offer $300 million in convertible senior notes due 2026 and $175 million in common stock, aiming to simplify its capital structure. The note offering includes a 30-day option for underwriters to purchase an additional $45 million, while the common stock offering allows for an additional $26.25 million. Proceeds from the offerings will fund a preferred stock repurchase of approximately $457.4 million. The company plans to redeem 150,000 shares of preferred stock for $447 million and convert 50,000 shares into common stock.
The Cheesecake Factory (NASDAQ: CAKE) reported a significant recovery in fiscal 2021, with comparable sales up approximately 196% year-over-year and 7% compared to fiscal 2019. Average weekly sales reached around $226,500, translating to $11.8 million annualized per unit. Nearly all of its restaurants are currently open with indoor dining, operating at about 70% capacity. The company operates 299 locations across the U.S. and Canada and opened a new location in Atlanta last month.
The Cheesecake Factory (NASDAQ: CAKE) announced that President David Gordon and CFO Matthew Clark will present at virtual investor conferences. These include the William Blair 41st Annual Growth Stock Conference on June 2, 2021, at 11:40 a.m. ET and the Baird 2021 Global Consumer, Technology & Services Conference on June 8, 2021, at 11:25 a.m. ET. The presentations will be webcast on the company's website, with replays available for seven days after the event.
The Cheesecake Factory reported financial results for Q1 fiscal 2021, showing total revenues of $627.4 million, up from $615.1 million in Q1 fiscal 2020. The net loss for common stockholders was $1.2 million, with a diluted loss per common share of $0.03. Adjusted net income was $10.8 million, or $0.20 per share. Comparable restaurant sales increased 2.8% year-over-year. As of April 27, 2021, comparable sales surged 220% year-over-year. The company maintains liquidity of approximately $278 million and has a total debt of $280 million.
The Cheesecake Factory (NASDAQ: CAKE) will release its first quarter fiscal 2021 financial results on April 28, 2021, after market close. A conference call will follow at 2:00 p.m. Pacific Time to discuss these results, which will be accessible via the Company's website. Currently, The Cheesecake Factory operates 298 restaurants across the U.S. and Canada, along with 27 licensed locations internationally. The company has been recognized on the FORTUNE "100 Best Companies to Work For" list for seven consecutive years, reflecting its commitment to hospitality and culinary excellence.
The Cheesecake Factory (NASDAQ: CAKE) announced its participation in the Raymond James 42nd Annual Institutional Investors Conference on March 2, 2021, at 1:20 p.m. ET. David Gordon, President, and Matthew Clark, CFO, will represent the company. The presentation will be available via webcast on the company's website, with replays accessible for seven days post-event. The Cheesecake Factory operates 294 restaurants across the U.S. and Canada and was recognized on FORTUNE's '100 Best Companies to Work For' list for the seventh consecutive year.
The Cheesecake Factory (NASDAQ: CAKE) reported a fourth-quarter revenue of $554.6 million for fiscal 2020, down from $694.0 million in the same quarter of 2019, primarily due to COVID-19 impacts. The net loss was $37.3 million, equivalent to a loss of $0.85 per share. Comparable restaurant sales fell by 19.5% in Q4. However, as of February 16, 2021, around 80% of locations have reopened indoor dining at half capacity. The Company generated $35.6 million in operating cash flow and maintains $250 million in liquidity, with total debt at $280 million.
The Cheesecake Factory (NASDAQ: CAKE) is celebrating Random Acts of Kindness Day with special promotions from February 15 to 21. Customers purchasing $50 in gift cards online will receive a $10 Bonus Card. For delivery orders over $50 via DoorDash, customers can use code '10GIFT' for a $10 discount, with $1 donated to Feeding America for each redemption. The initiatives aim to foster community kindness and support hunger relief efforts nationwide, reflecting the company's commitment to charitable endeavors.
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