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 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.
The Cheesecake Factory is extending National Cheesecake Day to a two-day event this year with three special offerings. First, the new Triple Berry Bliss Cheesecake will debut on July 29, featuring creamy cheesecake layered with vanilla cake, three types of berries, and a hint of citrus. For every slice of this cheesecake sold until July 29, 2025, the company will donate 25 cents to Feeding America.
Second, Cheesecake Rewards members can enjoy any slice of their more than 30 cheesecake flavors for half price on July 29 and 30. Lastly, the Cake Merch California Summer Collection will launch on July 29, featuring -edition caps, t-shirts, and beach towels. Rewards members will get free shipping and a free Celebration Cheesecake Luggage Tag with any Cake Merch purchase on July 29 and 30.
The Cheesecake Factory (NASDAQ: CAKE) has launched a special online gift card promotion targeting 'Dads and Grads'. From June 6 to June 28, 2024, customers purchasing $100 in gift cards online will receive a $20 bonus card. The bonus card can be redeemed from June 29 to July 26, 2024. This offer is aimed at enhancing gift shopping experiences for Father's Day and graduation season. The gift cards and bonus cards can be used for dining in, pickup, or curbside to-go orders. Terms and conditions apply.
The Cheesecake Factory (NASDAQ: CAKE) has announced its participation in two upcoming investor conferences. President David Gordon and CFO Matthew Clark will represent the company at the Baird 2024 Global Consumer, Technology and Services Conference in New York City from June 4-6, 2024. They will hold investor meetings on June 4th. Additionally, the executives will present and engage in investor meetings at William Blair’s 44th Annual Growth Stock Conference in Chicago, Illinois, on June 5th at 10:00 a.m. CT. The presentation will be webcast live on the company's website and available for replay for thirty days.
The Cheesecake Factory Incorporated (NASDAQ: CAKE) reported total revenues of $891.2 million for the first quarter of fiscal 2024, with net income of $33.2 million and diluted net income per share of $0.68. Comparable restaurant sales declined by 0.6% year-over-year. The Company opened five new restaurants during the quarter and expects to open up to 22 new restaurants in fiscal 2024. The Company had total available liquidity of $296.7 million as of April 2, 2024. The Board of Directors declared a quarterly dividend of $0.27 per share.
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