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 (symbol: CAKE) is a prominent player in the upscale casual dining industry, having pioneered the segment with its namesake concept introduced in 1978. The company is renowned for its extensive and diverse menu, featuring over 250 items made fresh from scratch daily, including the signature cheesecakes and desserts that have become a staple of the brand. Headquartered in Calabasas Hills, CA, The Cheesecake Factory owns and operates restaurants in the United States and Canada, under various brands such as The Cheesecake Factory, North Italia, and several subsidiaries within the Fox Restaurant Concepts.
The company's international footprint extends to the Middle East and Mexico through licensing agreements with third-party operators. Additionally, The Cheesecake Factory has a robust bakery division that supplies cheesecakes and other baked goods to its restaurants, international licensees, and third-party customers in the bakery sector.
With four primary business segments—The Cheesecake Factory restaurants, North Italia, other FRC (Fox Restaurant Concepts) brands, and Flower Child—the company generates the bulk of its revenue from The Cheesecake Factory restaurants. Recent achievements include continued expansion of their restaurant portfolio, strategic enhancements to their menu, and increased focus on digital and delivery platforms to meet evolving consumer preferences.
The Cheesecake Factory offers dynamic career opportunities, with defined paths for advancement in both restaurant and kitchen management roles. The corporate headquarters support various business units and include departments such as construction, design, executive management, guest services, legal, purchasing, risk services, finance, human resources, marketing, and performance development.
For investors, The Cheesecake Factory remains a compelling option in the dining sector, driven by a strong brand identity, diversified revenue streams, and a commitment to quality and innovation.
The Cheesecake Factory (NASDAQ: CAKE) has priced an upsized offering of $500 million convertible senior notes due 2030, increased from the previously announced $450 million. The notes will carry a 2.00% annual interest rate, payable semi-annually, and mature on March 15, 2030.
The initial conversion rate is 14.1377 shares per $1,000 principal amount, representing a conversion price of approximately $70.73 per share - a 30% premium over the last reported share price of $54.41.
Of the estimated $485.6 million net proceeds, the company plans to use:
- $130 million to repurchase 2.4 million shares of common stock
- $290 million to repurchase $276 million of its 2026 convertible notes
- Remaining funds for general corporate purposes and debt repayment
The Cheesecake Factory (NASDAQ: CAKE) announced plans to offer $450 million in convertible senior notes due 2030, with an additional $67.5 million option for initial purchasers. The notes will be senior, unsecured obligations with semi-annual interest payments, convertible under certain conditions into cash and potentially common stock.
The company plans to use $130 million of the proceeds to repurchase shares of its common stock and another portion to repurchase some of its outstanding 0.375% Convertible Senior Notes due 2026. The remaining funds will be allocated for general corporate purposes, including debt repayment under its revolving credit facility.
The notes will be redeemable after March 20, 2028, if the stock price exceeds 130% of the conversion price. In case of a fundamental change, noteholders may require the company to repurchase their notes for cash.
The Cheesecake Factory (NASDAQ: CAKE) reported strong Q4 2024 financial results with total revenues of $921.0 million, up from $877.0 million in Q4 2023. Net income reached $41.2 million with diluted EPS of $0.83. Adjusted for impairment and lease expenses, net income was $51.8 million with adjusted EPS of $1.04.
Comparable restaurant sales increased 1.7% year-over-year. The company opened nine new restaurants in Q4, including three North Italia locations, two Flower Child locations, and two FRC restaurants. For fiscal 2025, they plan to open up to 25 new restaurants.
The company maintains strong liquidity of $340.7 million, including $84.2 million in cash. They repurchased 11,800 shares at $0.5 million in Q4 and declared a quarterly dividend of $0.27 per share, payable March 18, 2025.
The Cheesecake Factory (NASDAQ: CAKE) has announced its upcoming participation in the Raymond James 46th Annual Institutional Investors Conference. The presentation is scheduled for March 4, 2025, at 9:50 a.m. Eastern Time.
The company will be represented by David Gordon, President, and Matthew Clark, Executive Vice President and Chief Financial Officer. Investors and interested parties can access the presentation through a webcast available on the company's investor relations website at investors.thecheesecakefactory.com.
The Cheesecake Factory (NASDAQ: CAKE) has announced it will release its fourth quarter fiscal 2024 financial results after market close on Wednesday, February 19, 2025. The company will host a conference call to discuss the results on the same day at 2:00 p.m. Pacific Time. The conference call will be accessible via webcast through the company's investor relations website at investors.thecheesecakefactory.com.
The Cheesecake Factory (NASDAQ: CAKE) has announced a special Winter Rewards Gift Card promotion exclusively for Cheesecake Rewards members. From January 22 through February 18, 2025, members will receive a $10 dining credit for every $50 in gift cards purchased online through their rewards account.
The dining credits will be available from February 19 through March 31, 2025, and can only be redeemed for dine-in purchases. Credits cannot be used for alcohol, gift cards, tax, or gratuity. Multiple credits can be redeemed on the same check. The promotion is accessible only through members' reward accounts, not through the main website.
Cheesecake Rewards is the company's nationwide loyalty program that offers members benefits including online reservations, birthday cheesecake, and exclusive promotional offers. New members who join by February 18 will be eligible for this promotion.
The Cheesecake Factory (NASDAQ: CAKE) has announced the return of its Peppermint Stick Chocolate Swirl Cheesecake for the holiday season. The dessert, which features peppermint swirled with white and dark chocolate cheesecake on a mint chocolate brownie, is now available at all locations nationwide.
Additionally, the company is offering a special holiday gift card promotion: customers who purchase $50 worth of gift cards will receive a $15 bonus card, redeemable from January 1 through February 28, 2025. The offer is available both online and in restaurants through the end of the year.
The Cheesecake Factory (NASDAQ: CAKE) announced its participation in two upcoming investor conferences in New York City. David Gordon, President, and Matthew Clark, CFO, will represent the company at both events.
At the Morgan Stanley Global Consumer & Retail Conference (December 3-4, 2024), management will conduct a fireside chat on December 3rd at 11:45 a.m. ET. At the Barclays 10th Annual Eat, Sleep, Play, Shop Conference (December 3-5, 2024), they will participate in a fireside chat on December 4th at 10:30 a.m. ET. Both sessions include investor meetings.
The Morgan Stanley fireside chat will be webcast on the company's investor website with a 30-day replay available.
The Cheesecake Factory (NASDAQ: CAKE) has announced its holiday gift card promotion starting November 14 online and November 29 in restaurants, running through December 31, 2024. For every $50 in gift cards purchased, customers will receive a $15 bonus card redeemable from January 1 through February 28, 2025. The promotion aims to give customers an early start on holiday shopping, offering access to the restaurant's extensive menu of over 250 items and 30+ cheesecake varieties. The bonus cards can be used for dining in or online orders for pickup and curbside to-go.
The Cheesecake Factory reported Q3 2024 financial results with total revenues of $865.5 million, up from $830.2 million in Q3 2023. Net income was $30.0 million with diluted EPS of $0.61. Comparable restaurant sales increased 1.6% year-over-year. The company opened four new restaurants during Q3 and three additional locations after quarter-end, totaling 17 new openings year-to-date. Available liquidity stood at $288.7 million, including $52.2 million in cash. The company declared a quarterly dividend of $0.27 per share.
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