CAKE Updating Introducing EPS Estimates Macau and New Menu Items

By Mark Kalinowski Published on September 6, 2019 at 12:00 AM

With this report, we reduce our Q3E same-store sales forecast for brand Cheesecake Factory (CAKE; Neutral) by -30 basis points, to +0.2%, placing us as the low forecast on the sell-side according to Consensus Metrix data. Our adjustment reflects weak casual-dining sector same-store sales trends for July and August, partially offset by The Cheesecake Factory’s relatively healthier brand (destination status) within casual dining. Our Q3E EPS estimate goes down by $0.01 to $0.55, placing us in line with consensus. We also take down our Q4E EPS estimate by $0.01 (to $0.64), and reduce our full-year 2019E EPS projection by $0.02, to $2.63.

CAKE What Does the Fox Say “Thank You to The Cheesecake Factory

By Mark Kalinowski Published on July 31, 2019 at 12:00 AM

After today’s market close, The Cheesecake Factory (CAKE; Neutral) reported adjusted Q2 EPS of $0.82, matching our $0.82 projection, and coming in one cent above sell-side consensus (according to Consensus Metrix) of $0.81.

Updating our Q2E19 Kalinowski Casual Dining Same-Store Sales Index

By Mark Kalinowski Published on May 21, 2019 at 12:00 AM

With this report, we lower our data-driven Kalinowski Casual Dining Index for Q2E by 40 basis points, to +1.9%. This figure is based on our latest proprietary checks/data as regards same-store sales performance for this segment during April 2019 and the first half of May 2019.