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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 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.
The Cheesecake Factory is celebrating National Dessert Day with a special offer for Cheesecake Rewards members. From October 14 to October 17, 2024, members can enjoy any dessert for half price when dining in, ordering takeout, or delivery. This offer includes iconic desserts like Fresh Strawberry cheesecake, the new Triple Berry Bliss Cheesecake, and specialty desserts such as Linda's Fudge Cake and the Godiva Chocolate Brownie Sundae.
Cheesecake Rewards is a free nationwide program offering members access to online reservations and exclusive rewards. New members who sign up by October 17 will receive the National Dessert Day offer in their account on the same day. The offer is to one discounted dessert per member account and excludes whole cakes, dessert trays, and kid's desserts. Full terms and conditions are available on The Cheesecake Factory's website.
The Cheesecake Factory Incorporated (NASDAQ: CAKE) has announced its plans to release third quarter fiscal 2024 financial results after market close on Tuesday, October 29, 2024. Following the release, the company will host a conference call at 2:00 p.m. Pacific Time on the same day to discuss the results.
Investors and interested parties can access the conference call via a webcast on the company's website at investors.thecheesecakefactory.com. For those unable to attend the live call, a replay of the webcast will be available on the company's website through November 28, 2024.
The Cheesecake Factory (NASDAQ: CAKE) has been recognized on the 2024 PEOPLE Companies that Care® list for the fourth consecutive year, ranking 47th. This recognition is based on an anonymous employee survey assessing the company's culture and community impact. The Cheesecake Factory's commitment to community support is evident through its Nourish Program, which donated over 646,000 pounds of food to more than 450 local non-profits in 2023.
Since 2008, the company has contributed over $6.6 million to Feeding America® through specially designated cheesecake sales. The Give Back program, sponsored by their charitable foundation, enables staff to volunteer for various charities. In 2024, The Cheesecake Factory was also named one of the Fortune '100 Best Companies to Work For®' for the eleventh consecutive year, highlighting its commitment to employee satisfaction and community engagement.
The Cheesecake Factory (NASDAQ: CAKE) is offering a special online gift card promotion from August 5 to September 2, 2024. For every $50 in gift cards purchased online, customers will receive a $10 bonus card, redeemable from September 3 to September 30, 2024. This promotion aims to sweeten the back-to-school season for customers.
The Cheesecake Factory is known for its extensive menu of over 250 dishes and more than 30 cheesecake varieties. Gift cards can be used for dining in, pick-up, or curbside to-go orders. The company recently introduced the Triple Berry Bliss Cheesecake, adding to its legendary dessert lineup.
The Cheesecake Factory (NASDAQ: CAKE) reported strong financial results for Q2 2024. Total revenues reached $904.0 million, up from $866.2 million in Q2 2023. Net income was $52.4 million, with diluted EPS of $1.08. Adjusted net income and EPS were $53.2 million and $1.09, respectively. Comparable restaurant sales at The Cheesecake Factory restaurants increased 1.4% year-over-year.
The company opened five new restaurants in Q2, including one Cheesecake Factory, one North Italia, two Flower Child locations, and one Culinary Dropout. They aim to open up to 22 new restaurants in fiscal 2024. The company's liquidity stood at $277.2 million, with $40.7 million in cash and $236.5 million available on its revolving credit facility. A quarterly dividend of $0.27 per share was declared.
The Cheesecake Factory announced it will release its second-quarter fiscal 2024 financial results after market close on July 31, 2024.
A conference call will be held on the same day at 2:00 p.m. Pacific Time to discuss the results.
The call will be webcast and accessible via the company's investor relations website.
A replay of the webcast will be available until August 30, 2024.
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