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 reported a strong third quarter for fiscal 2021, with total revenues reaching $754.5 million, up from $517.7 million in the same quarter last year. Net income stood at $32.7 million, or $0.64 per diluted share. Comparable restaurant sales increased by 41.1% year-over-year and 8.3% compared to fiscal 2019. In the fourth quarter-to-date through November 2nd, comparable sales rose 10.5% relative to 2019 levels. The company opened eight new restaurants despite pandemic challenges and has a strong liquidity position of $371.1 million.
The Cheesecake Factory is launching its annual Treat or Treat promotion, offering customers a complimentary slice of either REESE’S Peanut Butter Chocolate Cake Cheesecake or HERSHEY’S Chocolate Bar Cheesecake with online orders over $40 through Friday, October 29. To redeem, customers must use the promo code “TREATME.” This initiative enhances customer engagement and convenience, with options for curbside service and delivery through DoorDash. The offer is limited to 20,000 slices for online orders and subject to availability.
The Cheesecake Factory (NASDAQ: CAKE) will release its third quarter fiscal 2021 financial results on November 3, 2021, after market close. A conference call to discuss these results will follow at 2:00 p.m. Pacific Time on the same day. Investors can access the call via the Company’s website, with a replay available until December 3, 2021. The company operates 304 restaurants in the U.S. and Canada and was named one of the "100 Best Companies to Work For" by FORTUNE Magazine for the eighth consecutive year.
The Cheesecake Factory reported impressive second quarter fiscal 2021 results, with total revenues soaring to $769 million, compared to $295.9 million in the same quarter of fiscal 2020. Net income was $17.1 million, translating to $0.37 per share. Excluding certain expenses, adjusted net income reached $43.9 million ($0.80 per share). Comparable restaurant sales increased 150% year-over-year, showcasing strong recovery. The company generated $108.8 million in cash flow and reported total available liquidity of $401.9 million.
The Cheesecake Factory (NASDAQ: CAKE) has expanded its Board of Directors from nine to ten members, appointing Khanh “Connie” Collins as an independent director. Ms. Collins, who brings over 30 years of restaurant industry experience, will serve on the Corporate Governance and Nominating Committee and is set for election at the upcoming 2022 Annual Meeting of Stockholders. Her expertise in human capital management is expected to enhance the Board's perspective, furthering the company’s strategic goals.
The Cheesecake Factory (NASDAQ: CAKE) is set to release its second quarter fiscal 2021 financial results after market close on July 27, 2021. A conference call will follow at 2:00 p.m. Pacific Time to discuss the findings. This will be accessible via the Company’s website, with a replay available until August 26, 2021. The Cheesecake Factory operates 300 restaurants across the U.S. and Canada, and has been recognized on FORTUNE's 100 Best Companies to Work For list for eight consecutive years.
The Cheesecake Factory has completed offerings totaling $520 million, comprising $345 million in convertible senior notes and $175 million in common stock. The proceeds funded the repurchase of preferred shares, simplifying the capital structure. The company repaid $150 million of its revolving credit facility, reducing the balance to $130 million. With cash on hand of $144 million, it aims to maintain $125 million. The effective interest expense related to the notes is estimated at 1% annually. Post-offering, diluted shares outstanding are expected to rise to 51.5 million.
The Cheesecake Factory announced concurrent public offerings of $300 million of 0.375% convertible senior notes due 2026 and 3.125 million shares of common stock at $56.00 per share. The net proceeds from the offerings are estimated at approximately $457.4 million, aimed at repurchasing preferred stock and repaying debt. The notes will accrue interest at 0.375% per annum and are redeemable after June 20, 2024. The company also initiated a preferred stock repurchase of 150,000 shares for approximately $447 million, scheduled to close on June 15, 2021.
The Cheesecake Factory announced plans to offer $300 million in convertible senior notes due 2026 and $175 million in common stock, aiming to simplify its capital structure. The note offering includes a 30-day option for underwriters to purchase an additional $45 million, while the common stock offering allows for an additional $26.25 million. Proceeds from the offerings will fund a preferred stock repurchase of approximately $457.4 million. The company plans to redeem 150,000 shares of preferred stock for $447 million and convert 50,000 shares into common stock.
FAQ
What is the current stock price of Cheesecake Factory (CAKE)?
What is the market cap of Cheesecake Factory (CAKE)?
What is The Cheesecake Factory Incorporated?
Where is The Cheesecake Factory headquartered?
What brands does The Cheesecake Factory operate?
Does The Cheesecake Factory have an international presence?
What types of products does The Cheesecake Factory's bakery division produce?
What are the main business segments of The Cheesecake Factory?
Where does the majority of The Cheesecake Factory's revenue come from?
What career opportunities does The Cheesecake Factory offer?
What departments are located at The Cheesecake Factory's corporate headquarters?
How does The Cheesecake Factory stay relevant in the dining sector?
