Last $44.48 USD
Change Today -0.125 / -0.28%
Volume 416.9K
As of 8:10 PM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).

cheesecake factory inc/the (CAKE) Key Developments

The Cheesecake Factory Opens in Trumbull, CT

The Cheesecake Factory announced the opening of its newest restaurant at Westfield Trumbull mall in Trumbull, Connecticut. With more than 200 menu selections and more than 50 lower calorie 'SkinnyLicious(R)' selections -- all handmade, in-house with fresh ingredients -- and more than 50 signature cheesecakes and desserts, The Cheesecake Factory's opening provides new choices for Westfield Trumbull shoppers and area residents. The Trumbull location includes The Cheesecake Factory's distinctive and contemporary décor that is as creative and imaginative as its extensive menu. Featuring French limestone floors and decorative columns, hand painted murals, and modern lighting, the approximately 9,500 square-foot restaurant accommodates approximately 275 guests. The Cheesecake Factory of Trumbull will open at 11:30 a.m. Monday through Saturday, and 10:00 a.m. on Sunday. The restaurant is located at 5065 Main Street, # 314, Trumbull, CT 06611.

The Cheesecake Factory Incorporated Factory Opens its Newest Restaurant in Reno, Nevada

The Cheesecake Factory Incorporated announced the opening of its newest restaurant at the Meadowood Mall in Reno, Nevada. With more than 200 menu selections and more than 50 lower calorie "SkinnyLicious(R)" selections -- all handmade, in-house with fresh ingredients -- and more than 50 signature cheesecakes and desserts, The Cheesecake Factory's opening provides new choices for Meadowood Mall shoppers and area residents. The Reno location is The Cheesecake Factory's first restaurant in northern Nevada and includes the distinctive and contemporary décor that is as creative and imaginative as The Cheesecake Factory's extensive menu. Featuring French limestone floors and decorative columns, hand painted murals, and modern lighting, the approximately 7,400 square-foot restaurant accommodates approximately 180 guests. The Cheesecake Factory of Reno will open at 11:00 a.m. Monday through Saturday, and 10:00 a.m. on Sunday. The restaurant is located at 5162 Meadowood Mall Circle, Unit F108a Reno, NV 89502.

The Cheesecake Factory Incorporated Announces Quarterly Dividend, Payable on August 19, 2014; Expects to Open as Many as Ten Company-Owned Restaurants in Fiscal 2014

The Cheesecake Factory Incorporated announced that its Board of Directors approved an increase in its quarterly dividend equating to 18%. The company's Board of Directors declared a quarterly cash dividend of $0.165 per share on the company's common stock. The dividend is payable on August 19, 2014 to shareholders of record at the close of business on August 6, 2014. The company continues to expect to open as many as ten company-owned restaurants in fiscal 2014. The company continues to expect as many as three to four restaurants to open in the Middle East and Mexico under licensing agreements in fiscal 2014.

the Cheesecake Factory Incorporated Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 1, 2014; Announces Impairment of Assets and Lease Terminations for the Second Quarter Ended July 1, 2014; Provides Earnings Guidance for the Third Quarter and Full Year of 2014

The Cheesecake Factory Incorporated announced unaudited consolidated earnings results for the second quarter and six months ended July 1, 2014. For the quarter, the company announced revenues of $496,406,000 compared to $470,118,000 for the same period a year ago. Income from operations was $42,691,000 compared to $41,170,000 for the same period a year ago. Income before income taxes was $41,147,000 compared to $39,899,000 for the same period a year ago. Net income was $30,049,000 compared to $28,583,000 for the same period a year ago. Diluted net income per share was $0.59 compared to $0.52 for the same period a year ago. Net income (non-GAAP) was $30,355,000 compared to $29,486,000 for the same period a year ago. Diluted net income per share (non-GAAP) was $0.59 compared to $0.54 for the same period a year ago. For the six months, the company announced revenues of $977,837,000 compared to $933,136,000 for the same period a year ago. Income from operations was $75,764,000 compared to $77,957,000 for the same period a year ago. Income before income taxes was $72,829,000 compared to $75,376,000 for the same period a year ago. Net income was $52,567,000 compared to $53,875,000 for the same period a year ago. Diluted net income per share was $1.01 compared to $0.99 for the same period a year ago. Net income (non-GAAP) was $52,985,000 compared to $55,164,000 for the same period a year ago. Diluted net income per share (non-GAAP) was $1.02 compared to $1.01 for the same period a year ago. Cash flow from operations for the first 6 months of 2014 was approximately $122 million, net of roughly $58 million of cash used for capital expenditures. For the second quarter ended July 1, 2014, the company announced impairment of assets and lease terminations of $510,000 compared to $1,505,000 for the same period a year ago. For the third quarter of 2014, the company estimate diluted earnings per share of between $0.55 and $0.58 based on an assumed range of comparable sales of between 1% and 2%. With comparable sales in the first half of 2014 at 1%, and while maintaining its comparable sales estimate for the second half of the year, mathematically, that brings to a full year 2014 comparable sales range of between 1% and 1.5%. Based on this assumption, it would estimate diluted earnings per share in a range of $2.19 to $2.25 for this year. The company now expect corporate tax rate, to be about 28% for the full year 2014 consistent with its year-to-date level. Total capital expenditures are still expected to be between $105 million and $115 million for planned 2014 openings, as well as expected openings in early 2015.

The Cheesecake Factory Opens in Guadalajara, Mexico

The Cheesecake Factory announced that its licensee in Latin America, Alsea, S.A.B. de C.V. opened its first The Cheesecake Factory in Mexico in the city of Guadalajara, Jalisco. The new restaurant is located in Galerias Guadalajara shopping center, and features The Cheesecake Factory's distinctive décor. Featuring French limestone floors and decorative columns, hand painted murals, and modern lighting, the approximately 8,500 square-foot restaurant accommodates approximately 220 guests. The Cheesecake Factory's licensing agreement with Alsea provides for the development of a minimum of 12 restaurants throughout Mexico and Chile with the potential to expand the agreement to four other countries -- Argentina, Brazil, Colombia and Peru.

 

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