Wednesday February 17, 2021, 16:53:00
After today’s (Wednesday’s) market close, The Cheesecake Factory reported adjusted Q4 EPS of -$0.32, below our +$0.06 forecast and sell-side consensus (according to Consensus Metrix) of -$0.02.
Tuesday December 8, 2020, 00:00:00
About six months ago, we published a report examining market-share opportunities within the casual dining sector. In this report, we update our numbers. One of the important changes is that we now look for 8%-20% of the casual dining restaurants in the U.S. that were in operation as of the start of 2020 to be closed permanently by the end of March 2021. (Previously, we were looking for 3%-15% of casual dining restaurants to be closed permanently by the end of December 2020.) Keep in mind that we expect these closures to be heavily weighted toward independents/momand-pops and, to a somewhat lesser degree, smaller (privately-held in nearly all cases) restaurant chains.
Monday November 30, 2020, 00:00:00
With this report, we update our data-driven Kalinowski Casual Dining Index for Q4E to -18.4%. This figure is based on our latest proprietary checks/data as regards samestore sales performance for this segment during October and November. Our implied numbers for these October, November, and December are approximately -14%, -19%, and -22%, respectively.