|Day's Range||8.80 - 8.80|
The deadly mass shooting at a Walmart Inc. El Paso store has sparked questions about the risk of violence at the nation’s brick-and-mortar retail locations, with one expert expressing confidence that there will be progress on safety measures, even if the move is minimal.
In an interview with the Business Journal, the Valley restaurateur who sold his company for north of $350 million to the publicly traded restaurant giant said he is already hard at work plotting the next phase of the company's growth.
Olive Garden's Never Ending Pasta Pass is back for its fifth year, but this time 50 lucky winners will have the chance to buy a Lifetime Pasta Pass.
Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be...
With a plethora of new restaurant brands already under the Cheesecake Factory umbrella, the Business Journal asked industry experts how the company could integrate Scottsdale's Fox Restaurant Concepts into its large international footprint.
Cheesecake Factory Inc (NASDAQ: CAKE) reported its quarterly results short of expectations and lowered its full-year guidance. Cheesecake Factory announced the acquisition of the North Italia concept, which was expected, but surprisingly also announced plans to acquire Fox Restaurant Concepts, Tower said in the note. The company plans to acquire North Italia (NI) and Fox Restaurant Concepts (FRC) for a total of $440 million and expects the transaction to be neutral to 2020 EPS and accretive thereafter.
Cheesecake Factory Inc. shares rose 2.5% in Thursday trading after it reported an earnings beat and announced the acquisition of Fox Restaurant Concepts. Net income was $35.5 million, or 79 cents per share, up from $28.4 million, or 61 cents per share, last year. Adjusted EPS of 82 cents, beat the 81-cent FactSet estimate. Revenue of $602.6 million was up from $587.3 million but missed the $613.0 million FactSet consensus. Same-restaurant sales growth of 1% also missed the FactSet estimate for 2% growth. Cheesecake Factory also announced that it will acquire Fox Restaurant Concepts, which has more than 50 locations in the U.S., and the remaining interest in North Italia, an Italian casual-dining chain with 20 locations in the U.S. North Italia is part of the Fox Concepts portfolio. Cheesecake Factory will pay about $178 million in cash and $45 million over the next four years for Fox Concepts. Total consideration for Fox Concepts before a performance-driven earn-out provision, will be $267 million including a $44 million investment in Flower Child, a Fox Concepts casual-dining restaurant. Fox Concepts annualized run-rate revenue is expected to be about $250 million when the transaction is complete. The remaining portion of North Italia will be acquired for about $130 million in cash, for a total of $174 million including a previous $44 million invested. Together, the company is expecting $3 billion in pro forma 2020 revenue and 8%-plus revenue growth with same-restaurant sales growth of 1% to 2%. Cheesecake Factory stock is up 1.5% for the year to date while the the S&P 500 index is up 19.2% for the period.
The Cheesecake Factory Inc. announced Wednesday it agreed to purchase Phoenix-based Fox Restaurant Concepts for $308 million.
Cheesecake Factory (CAKE) delivered earnings and revenue surprises of 1.23% and -1.27%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Shares of The Cheesecake Factory Inc. were flat in the extended session Wednesday after the restaurant chain reported mixed fiscal second-quarter results and said it had entered a deal to buy a restaurant group. The Cheesecake Factory said it earned $35.5 million, or 79 cents a share, in the quarter, compared with $28.3 million, or 61 cents a share, in the year-ago period. Adjusted for one-time items, the company earned $36.7 million, or 82 cents a share, compared with 67 cents a share a year ago. Revenue rose to $602.6 million from $587.3 million a year ago. Same-restaurant sales rose 1%. Analysts polled by FactSet had expected The Cheesecake Factory to report adjusted earnings of 81 cents a share on sales of $613 million. In a separate press release, the company said it had agreed to buy Fox Restaurant Concepts and the remaining interest in North Italia. The deal will be completed for $308 million in cash at closing, with an additional $45 million over the next four years. Shares of The Cheesecake Factory ended the regular trading day down 3.3%.
The Cheesecake Factory Incorporated (CAKE) today announced that it has entered into definitive agreements to acquire Fox Restaurant Concepts (“FRC”) and the remaining interest in North Italia, reinforcing its leadership position in experiential dining. “Since making our initial minority investments in North Italia and Flower Child in 2016, we have not only helped fuel the growth of both brands, but also developed a deep relationship with Sam Fox at Fox Restaurant Concepts,” said David Overton, Chairman and Chief Executive Officer of The Cheesecake Factory Incorporated. Overton continued, “In turn, we have decided to bring together North Italia and Fox Restaurant Concepts, including Flower Child, with The Cheesecake Factory to reinforce our leadership position in experiential dining.
Announces definitive agreements to acquire Fox Restaurant Concepts and remaining interest in North Italia; Reinforces leadership position in experiential dining
Cheesecake Factory (NASDAQ: CAKE ) releases its next round of earnings this Wednesday, July 31. Here's Benzinga's essential guide to Cheesecake Factory's earnings report. Earnings and Revenue ...
David Overton became the CEO of The Cheesecake Factory Incorporated (NASDAQ:CAKE) in 1992. This report will, first...
The Federal Open Market Committee (FOMC) will deliver its policy decision Wednesday, and many are expecting the central bank to cut short-term interest rates for the first time in over a decade, even as recent data pointed to a strong U.S. economy.
Highly Anticipated Pineapple Upside-Down Cheesecake Debuts on National Cheesecake Day
Cheesecake Factory (CAKE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Kura Sushi USA is reportedly looking to go public. If it does, this will be the first traditional restaurant industry IPO in 4 years. Jonathan Maze, Executive Editor of Restaurant Business Magazine, joins Yahoo Finance's YFi AM to discuss.