Cheesecake Factory (CAKE) PT Lowered to $44 at Morgan Stanley

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Go back to Cheesecake Factory (CAKE) PT Lowered to $44 at Morgan Stanley

The Cheesecake Factory Reports Results for Third Quarter of Fiscal 2017

November 1, 2017 4:15 PM EDT

CALABASAS HILLS, Calif.--(BUSINESS WIRE)-- The Cheesecake Factory Incorporated (NASDAQ: CAKE) today reported financial results for the third quarter of fiscal 2017, which ended on October 3, 2017.

Total revenues were $555.4 million in the third quarter of fiscal 2017 as compared to $560.0 million in the third quarter of fiscal 2016. Net income and diluted net income per share were $26.4 million and $0.56, respectively, in the third quarter of fiscal 2017.

Comparable restaurant sales at The Cheesecake Factory restaurants declined 2.3% in the third quarter of fiscal 2017, including an approximately 0.8% negative impact from Hurricanes Harvey, Irma and Maria. Excluding this weather impact, comparable... More