=Cheesecake Factory (CAKE): downward revision of guidance

Cheesecake Factory now expects comparable sales at The Cheesecake Factory restaurants for the second quarter of fiscal 2017 to be down approximately 1% after seeing heightened volatility in sales:

• The Company now expects comparable sales at The Cheesecake Factory restaurants for the second quarter of fiscal 2017 to be down approximately 1%.
• The Company expects this to impact second quarter margins and earnings per share.
• "More broadly however, we have seen heightened volatility in week to week sales trends, indicative of uncertainty on the part of many consumers. Specifically, we have seen pockets of softness as we moved through the quarter, notably in the East and Midwest where we also faced unfavorable weather that reduced patio usage."

=Cheesecake Factory (CAKE) reported earnings on Wed 3 May 2017 (a/h)

Cheesecake Factory misses by $0.01, misses on revs; should guide on call :

• Reports Q1 (Mar) earnings of $0.72 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $0.73; revenues rose 1.8% year/year to $563.43 mln vs the $569.9 mln Capital IQ Consensus.
• Comparable restaurant sales at The Cheesecake Factory restaurants increased +0.3% in Q1.
• Co says its Q1 results were in line with expectations as co posted its 29th consecutive quarter of positive comparable sales, again outperforming the casual dining industry.

=Cheesecake Factory (CAKE) reported earnings on Wed 26 Oct 2016 (a/h)

Cheesecake Factory beats by $0.09, reports revs in-line; Q3 comps +1.7% 

• Reports Q3 (Sep) earnings of $0.70 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus of $0.61; revenues rose 6.3% year/year to $560 mln vs the $557.78 mln Capital IQ Consensus. 
• Comparable restaurant sales at The Cheesecake Factory restaurants increased 1.7% in the third quarter of fiscal 2016.

Cheesecake Factory (CAKE) reported earnings on Mon 26 October 2015 (after close)

** charts before earnings **

** charts after earnings **

Cheesecake Factory Inc.'s third-quarter earnings rose 8% as the company's namesake chain posted its 23rd consecutive quarter of positive same-store sales.

However, total revenue was slightly below Wall Street estimates.

The company's shares fell 5.7% to $49.02 in after-hours trading.


Cheesecake Factory has previously noted its higher labor costs this year. In the third quarter, favorable patterns in dairy and seafood costs helped its results, Chief Financial Officer Doug Benn said in a conference call.

Comparable-restaurant sales rose 2.2% at the Cheesecake Factory. In addition to 182 Cheesecake Factory locations, the company operates 12 Grand Lux Cafes and one RockSugar Pan Asian Kitchen restaurant.

Cheesecake Factory's locations are typically at high-end malls that haven't suffered falling traffic.

For the quarter ended Sept. 30, the company earned $26.2 million, or 52 cents a share, compared with $24.2 million, or 48 cents a share, a year earlier. Earnings excluding items were 59 cents a share. Revenue rose 5.5% to $526.7 million.

The company had projected earnings of 53 cents to 56 cents a share. Analysts polled by Thomson Reuters expected revenue of $535 million.

For the fourth quarter, Cheesecake Factory expects earnings of 50 cents to 53 cents a share, while analysts project 54 cents. The company, which projects comparable sales growth of 1% to 2% at Cheesecake Factory for the period, said the timing of Halloween and Christmas will hurt results.