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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 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.
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