Cheesecake Factory (CAKE) Misses Q4 EPS by 2c

Cheesecake Factory (NASDAQ: CAKE) reported Q4 EPS of $0.58, $0.02 worse than the analyst estimate of $0.60. Revenue for the quarter came in at $694 million versus the consensus estimate of $706.21 million.

“Comparable sales at The Cheesecake Factory restaurants again outperformed the casual dining industry and bottom-line results of the core business were within our expectations for the fourth quarter,” said David Overton, Chairman and Chief Executive Officer. “Our operators executed very well, with particular strength in labor management, which contributed to solid restaurant-level profitability during the quarter.”

Overton continued, “We believe we have the best teams in the industry, which enable us to deliver delicious, memorable experiences to our guests every day. We are honored to be recognized as one of the ‘100 Best Companies to Work For®’ by FORTUNE magazine for the seventh consecutive year, underscoring our position as a best-in-class employer.”

Overton concluded, “We accomplished so much in 2019, including closing on the acquisitions of North Italia and Fox Restaurant Concepts, reinforcing our leadership position in experiential dining. We continue to believe the combination of our companies will drive long-term value for our shareholders, guests and staff members.”

For earnings history and earnings-related data on Cheesecake Factory (CAKE) click here.

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