Monday June 21, 2021, 17:00:54
With this note, we raise our full-Q2E same-store sales forecast for brand Cheesecake Factory to +149.0% (from +142.5%). Our updated +149.0% projection implies a two-year sales figure of about +7.3% for full-Q2E. As of this writing, sell-side consensus is at +145.3% for the one-year number.
Wednesday April 28, 2021, 13:03:00
After Wednesday’s market close, The Cheesecake Factory reported adjusted Q1 EPS of +$0.20. This surpassed our +$0.05 forecast and sell-side consensus (according to Consensus Metrix) of -$0.07. Factors behind the outperformance relative to our forecast include: (1) Cost of Sales/Revenues (21.7% actual vs. 22.7% forecasted), (2) Labor Expenses/Revenues (36.6% actual vs. 37.7% projected, and (3) D&A/Revenues (3.5% actual vs. 3.8% estimated), partially offset by (1) Other Operating Expenses/ Revenues (28.2% actual vs. 27.7% forecasted), and (2) G&A/Revenues (7.1% actual vs. 6.8% forecasted).
Wednesday March 17, 2021, 16:44:00
The Cheesecake Factory likely will release its Q1 2021 earnings in late April or early May. How do CAKE shares tend to trade heading into earnings, and the day after an earnings release?