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) is celebrating Mother's Day by offering a special promotion on gift cards. Customers who purchase $50 in gift cards online from April 28 to May 8, 2022, will receive a $10 Bonus Card, redeemable from May 9 to June 9, 2022. This promotion aims to enhance online sales while catering to customers looking for thoughtful gifts. The Cheesecake Factory continues to focus on high-quality dining experiences, boasting over 250 menu items and a reputation for legendary desserts.
The Cheesecake Factory reported a 27% increase in consolidated revenues, reaching $793.7 million for Q1 fiscal 2022, compared to $627.4 million in Q1 fiscal 2021. Net income was $23.2 million, or $0.45 per share. Adjusted net income, excluding a $0.8 million charge, was $24 million or $0.47 per share. Comparable restaurant sales rose by 20.7% year-over-year. The company announced a quarterly dividend of $0.27 per share and reinstated its share repurchase program, while planning to open up to 16 new restaurants in fiscal 2022.
The Cheesecake Factory (NASDAQ: CAKE) has committed to reducing its carbon emissions in alignment with the Paris Agreement and aims for net zero emissions by 2050. The company plans to submit its reduction targets for validation by the Science Based Targets Initiative (SBTi) and has established a dedicated sustainability department over the past decade. This commitment reflects its legacy in environmental sustainability, including sustainable sourcing tied to executive bonuses. Leading sustainability advocates commend the company's measurable goals and proactive approach.
The Cheesecake Factory (NASDAQ: CAKE) will announce its first quarter fiscal 2022 financial results after market close on April 27, 2022. A conference call is scheduled for the same day at 2:00 p.m. Pacific Time to discuss these results, accessible via the company’s investor website. The Cheesecake Factory operates 306 restaurants across the U.S. and Canada and has a bakery division producing cheesecakes and baked goods. The company has been recognized in the FORTUNE Magazine’s “100 Best Companies to Work For” list for eight consecutive years.
The Cheesecake Factory (NASDAQ: CAKE) announced its commitment to transition to cage-free eggs by the end of 2022, three years ahead of schedule. This initiative targets all eggs used in their baked goods worldwide. The company has already achieved its goal in U.S. and Canadian operations. The Cheesecake Factory is also collaborating with international licensees to adopt cage-free eggs by or before 2030, reaffirming its dedication to sustainable sourcing and animal welfare.
Terranova Corporation announced that The Cheesecake Factory (NASDAQ: CAKE) has signed a lease for a new location at 600 Lincoln Road, Miami Beach, set to open in Fall 2022. The restaurant will occupy 7,000 SF and hire over 200 local staff. Chairman Stephen Bittel highlighted the lease as a testament to the company's commitment to enhancing the community, amidst a strong local economy. The Cheesecake Factory aims to provide memorable dining experiences for residents and tourists. Terranova's successful tenant strategy on Lincoln Road continues to attract notable brands, supporting community growth.
CALABASAS HILLS, Calif.--(BUSINESS WIRE)--The Cheesecake Factory Incorporated (NASDAQ: CAKE) announced its participation in the Raymond James 43rd Annual Institutional Investors Conference on March 8, 2022, at 9:50 a.m. Eastern Time. David Gordon, President, and Matthew Clark, Executive VP and CFO, will represent the company. The presentation will be available via webcast on the company’s website, with a replay accessible for seven days. The Cheesecake Factory operates 306 restaurants in the U.S. and Canada, emphasizing experiential dining and hospitality.
The Cheesecake Factory reported a strong fourth quarter for fiscal 2021, with revenues reaching $776.7 million, up 40% year-over-year from $554.6 million. Net income for the quarter was $2.1 million or $0.04 per share, while adjusted net income was $24.9 million or $0.49 per share, after accounting for $29.1 million in pre-tax charges. Comparable restaurant sales increased 33.8% year-over-year and 7.7% compared to Q4 2019. The company opened four new locations and had $430 million in available liquidity, indicating a robust financial position.
The Cheesecake Factory (NASDAQ: CAKE) will release its fourth quarter fiscal 2021 financial results on February 16, 2022, after market close. A conference call to discuss these results is scheduled for 2:00 p.m. Pacific Time on the same day. The call will be webcast and available for replay until March 18, 2022. The company operates 308 restaurants in the U.S. and Canada and has been recognized by FORTUNE Magazine as one of the 100 Best Companies to Work For for eight consecutive years.
The Cheesecake Factory has launched a holiday gift card offer from
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