real-time news and commentary for investors
Wednesday, Oct 23
The Cheesecake Factory shows signs of life in beat-up sector
- The Cheesecake Factory (CAKE) reports comparable restaurant sales increased 1% for its The Cheesecake Factory concept and fell 2.6% for the Grand Lux Cafe brand during Q3
- Amid a weak overall climate in the casual dining sector, execs say market share gains were made.
- The company says it expects to open nine new restaurants in FY13 and plans to allocate $65M for share buybacks in Q4. (PR)
- CAKE +5.8% AH.