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Posted by: PokerVertigo Date: Monday, August 04, 2008 2:10:08 PM
In reply to: molee who wrote msg# 10431 Post # of 10584
Call up the TA... there has been no further dilution since the inception of the new shares (3.6 mil) to the IR group handling the promotion of BDRR.
These shares showing up in volume has to be people bailing due to lack of news, or mm's trading between themselves. Go ahead and hit the ask, I guarantee you it will jump up on you as it has for me... you maybe able to get 10000 shares before it goes to 0.004...
Big fan of the Manny!
Shorted...LMAO!
Well at least you disclose...I'll give you that.
The Cheesecake Factory Receives Top Honors from Restaurants and Institutions Magazine's Annual Consumers' Choice in Chains Surve
The Cheesecake Factory Incorporated (NASDAQ:CAKE) was honored last evening by Restaurants & Institutions as the Platinum award winner in the casual dining category.
More than 3,100 consumers were asked to rate nearly 120 chain restaurants in the magazine’s annual Consumers’ Choice in Chains survey across eight customer satisfaction attributes: food quality, menu variety, value, service, atmosphere, cleanliness, reputation and convenience. Now in its 28th year, the Restaurants & Institutions award is a highly coveted honor and is recognized as a measure of success and guest satisfaction by restaurant chains across the country.
“We are delighted to once again receive the Platinum award in the Consumers’ Choice in Chains survey,” said David Overton, Chairman and CEO. “We strive to provide our guests with an exceptional experience and receiving the top overall score in casual dining in a survey voted on by consumers tells us that our brand strategy is as relevant today as it was when our first restaurant opened 30 years ago. We have 33,000 staff members across the country dedicated to a spirit of excellence and quality, and this award comes as a result of their commitment to our Company and our guests.” About The Cheesecake Factory Incorporated The Cheesecake Factory Incorporated created the upscale casual dining segment in 1978 with the introduction of its namesake concept and continues to define it today with the two highest productivity concepts in the industry. The Company operates 143 restaurants throughout the U.S. under The Cheesecake Factory® name with an extensive menu of more than 200 items and fiscal 2007 average annual unit sales of approximately $10.4 million. Grand Lux Cafe®, the Company’s second concept, has 13 units in operation across the U.S. offering a broad menu of more than 150 items and average annual unit sales of approximately $12.7 million in fiscal 2007. The Company also operates one unit of its newest concept, RockSugar Pan Asian Kitchen™, and two bakery production facilities in Calabasas Hills, CA and Rocky Mount, NC that produce over 60 varieties of quality cheesecakes and other baked products. Additionally, the Company licenses two bakery cafe outlets to another foodservice operator under The Cheesecake Factory Bakery Cafe® mark. For more information, please visit thecheesecakefactory.com.
Not laughing....Crying it's so funny!
I don't know about you guys but this is how I'm picking my stocks from now on...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=31426282
Every time I turn around I'm falling in love...
You deserve Hillary...
Willy has never helped anyone who wasn't currently helping him...
Go back to bed...
What a great website...
Just say no to drugs...
Well I think after a few years it's time to nibble...
Dick Moss estimates that one-third of today's players wouldn't know of Marvin Miller, Dave McNally and Andy Messersmith. Grich said that's a shame. "Curt Flood, Marvin, Messersmith and McNally should be as much of a part of their baseball life as George Washington and Abraham Lincoln are to American life."
Yep!
After the Curt Flood case and a short players' strike in 1972 failed to resolve the free agency issue, McNally and Messersmith decided to test the reserve clause and played their 1975 seasons without a contract. After the season, arbitrator Peter Seitz declared both players free agents. McNally, who had announced his plans to retire during a dismal season with the Expos, did not take advantage of his newly-acquired free agency, while Messersmith signed a large contract with the Atlanta Braves. (SEW)
Thay all have Dave McNally to thank...
Manny!
The Cheesecake Factory Commemorates National Cheesecake Day on July 30
It was first served to Olympic athletes in Ancient Greece in 776 B.C. then became popular in America after a dairyman invented cream cheese in 1872. Now, America's favorite dessert gets its due respect, with its very own holiday—National Cheesecake Day. In celebration of this momentous occasion on July 30, The Cheesecake Factory® restaurants will offer every delicious slice of its more than 30 varieties of cheesecake with a dollop of nostalgia by featuring all cheesecakes at $1.50 per slice, limit one per dine-in guest, on that day—the same price cheesecakes were sold when the restaurant first opened in 1978.
This year marks the 30th anniversary of The Cheesecake Factory’s first restaurant opening and the Company will be serving up several sweet initiatives throughout the year, including the launch of a special website (www.cheesecakeanniversary.com) that will highlight various anniversary activities. Among other initiatives, a limited edition cheesecake – the 30th Anniversary Chocolate Cake Cheesecake – will be introduced on July 30, with $0.25 from the sale of each slice sold this year benefiting the national hunger-relief organization, America’s Second Harvest – The Nation’s Food Bank Network.
“National Cheesecake Day is a terrific day for us to kick-off our 30th anniversary activities and a wonderful opportunity for us to celebrate the occasion with our guests,” said David Overton, Chairman and CEO. “Still utilizing my mother’s original cheesecake recipe is a tribute to her sense of quality and taste, and that magic is still alive today.
“We are pleased to commemorate this milestone with the introduction of our special anniversary cheesecake and to donate a portion of the proceeds to support America’s Second Harvest. This organization helps supply food to 25 million people each year in the communities that we are part of. We are proud to be affiliated with America’s Second Harvest,” concluded Overton.
About The Cheesecake Factory Incorporated The Cheesecake Factory Incorporated (NASDAQ: CAKE) created the upscale casual dining segment in 1978 with the introduction of its namesake concept and continues to define it today. The Company operates 143 restaurants throughout the U.S. under The Cheesecake Factory® name with an extensive menu of more than 200 items. Grand Lux Cafe®, the Company’s second concept, has 13 units in operation across the U.S. offering a broad menu of more than 150 items. The Company also operates one unit of its newest concept, RockSugar Pan Asian Kitchen™, and two bakery production facilities in Calabasas Hills, CA and Rocky Mount, NC that produce over 60 varieties of quality cheesecakes and other baked products. Additionally, the Company licenses two bakery cafe outlets to another foodservice operator under The Cheesecake Factory Bakery Cafe® mark. For more information, please visit thecheesecakefactory.com.
The Cheesecake Factory Commemorates National Cheesecake Day on July 30
It was first served to Olympic athletes in Ancient Greece in 776 B.C. then became popular in America after a dairyman invented cream cheese in 1872. Now, America's favorite dessert gets its due respect, with its very own holiday—National Cheesecake Day. In celebration of this momentous occasion on July 30, The Cheesecake Factory® restaurants will offer every delicious slice of its more than 30 varieties of cheesecake with a dollop of nostalgia by featuring all cheesecakes at $1.50 per slice, limit one per dine-in guest, on that day—the same price cheesecakes were sold when the restaurant first opened in 1978.
This year marks the 30th anniversary of The Cheesecake Factory’s first restaurant opening and the Company will be serving up several sweet initiatives throughout the year, including the launch of a special website (www.cheesecakeanniversary.com) that will highlight various anniversary activities. Among other initiatives, a limited edition cheesecake – the 30th Anniversary Chocolate Cake Cheesecake – will be introduced on July 30, with $0.25 from the sale of each slice sold this year benefiting the national hunger-relief organization, America’s Second Harvest – The Nation’s Food Bank Network.
“National Cheesecake Day is a terrific day for us to kick-off our 30th anniversary activities and a wonderful opportunity for us to celebrate the occasion with our guests,” said David Overton, Chairman and CEO. “Still utilizing my mother’s original cheesecake recipe is a tribute to her sense of quality and taste, and that magic is still alive today.
“We are pleased to commemorate this milestone with the introduction of our special anniversary cheesecake and to donate a portion of the proceeds to support America’s Second Harvest. This organization helps supply food to 25 million people each year in the communities that we are part of. We are proud to be affiliated with America’s Second Harvest,” concluded Overton.
About The Cheesecake Factory Incorporated The Cheesecake Factory Incorporated (NASDAQ: CAKE) created the upscale casual dining segment in 1978 with the introduction of its namesake concept and continues to define it today. The Company operates 143 restaurants throughout the U.S. under The Cheesecake Factory® name with an extensive menu of more than 200 items. Grand Lux Cafe®, the Company’s second concept, has 13 units in operation across the U.S. offering a broad menu of more than 150 items. The Company also operates one unit of its newest concept, RockSugar Pan Asian Kitchen™, and two bakery production facilities in Calabasas Hills, CA and Rocky Mount, NC that produce over 60 varieties of quality cheesecakes and other baked products. Additionally, the Company licenses two bakery cafe outlets to another foodservice operator under The Cheesecake Factory Bakery Cafe® mark. For more information, please visit thecheesecakefactory.com.
You always smell news, a bounce, or just about anything else... I tyhink you might just have gas!
49-52
Who was the guy that said they loaned BDRR $100K so they wouldn't dump anymore shares? Did you get your money back yet?
So hows it going?
LIAR!
Love the price down here. Thinking it may go as low as $13...
49-52
Cheesecake Factory 2Q EPS 29 cents; revenue up 9% to $407.1 million
NEW YORK (Thomson Financial) - The Cheesecake Factory Inc. Thursday reported
second-quarter net income of $19.1 million, or 29 cents a share. The result
includes a stock-based compensation expense of $1.6 million, a $2.2 million
increase in income tax expense and a $2.4 million decrease in income tax
expense.
The mean estimate of analysts polled by Thomson Reuters was for earnings of
29 cents a share.
Revenue for the restaurant chain rose 9% to $407.1 million, while same-store
sales dropped 4.1%. Wall Street was looking for sales of $412.5 million.
Shares of Cheesecake Factory closed Wednesday at $16.19.
Ryan Vlastelica
rv/vj
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
The Cheesecake Factory Reports Results for Second Quarter of Fiscal 2008
The Cheesecake Factory Incorporated (NASDAQ: CAKE) today reported financial results for the second quarter of fiscal 2008, which ended on July 1, 2008.
Total revenues increased 9% to $407.1 million in the second quarter of fiscal 2008 from $373.2 million in the prior year second quarter. Net income and diluted net income per share were $19.1 million and $0.29, respectively.
Second quarter fiscal 2008 net income and diluted net income per share include the following items: (1) A reduction in after-tax stock-based compensation expense of $1.6 million reflecting an increase in the Company’s estimated rate of forfeited stock options; (2) An increase in income tax expense of $2.2 million in taxes and interest relating to the potential disallowance of the deductibility of certain executive compensation under the provisions of Internal Revenue Code Section 162(m); and (3) A decrease in income tax expense of $2.4 million relating to Internal Revenue Service approval of the Company’s application for a change in accounting for construction allowances.
Operating Results Comparable restaurant sales decreased approximately 4.1% in the second quarter of fiscal 2008 from the prior year second quarter.
By concept, comparable restaurant sales decreased an estimated 4.1% and 4.5% at The Cheesecake Factory and Grand Lux Cafe, respectively, in the second quarter of fiscal 2008 from the prior year second quarter.
“We remain focused on executing against our business plan and controlling our costs, as well as strengthening our infrastructure by adding to our talented management team,” said David Overton, Chairman and CEO. “Similar to most other casual dining operators, we continue to face headwinds from the current macroeconomic environment and are taking action to mitigate the impact of these conditions.
“Furthermore, during the second quarter we made a number of enhancements to our senior management team with appointments to newly created leadership positions in restaurant operations, kitchen operations and marketing. Our management depth in these areas will further support our commitment to guest satisfaction and assist our efforts to continue building our brand in high-quality ways. In addition, we were again active in returning capital to shareholders through our ongoing share repurchase program,” added Overton.
Stock Repurchases The Company repurchased approximately 2.4 million shares of its common stock during the second quarter of fiscal 2008 at a total cost of approximately $52 million as part of its previously announced fiscal 2008 business plan, which includes estimated share repurchases of between $150 million and $200 million. In the first half of fiscal 2008, the Company repurchased shares totaling approximately $97 million and has 12.9 million shares remaining under its 31 million share authorization.
Targeted New Restaurant Openings As planned, the Company opened four Cheesecake Factory restaurants and the initial unit of its newest concept, RockSugar Pan Asian Kitchen, during the second quarter of fiscal 2008. The Company anticipates opening two Cheesecake Factory restaurants in the fourth quarter of fiscal 2008, for a total of seven new restaurants this year, in-line with its expectations.
“We had a few particularly strong openings during the second quarter,” continued Overton. “The two Cheesecake Factory restaurants that opened in California, in Glendale and Roseville, have delivered combined average weekly sales in excess of $250,000 since opening. These are strong numbers by any account, but are especially noteworthy in the current consumer environment, highlighting the strength of our brand. In addition, the response to RockSugar Pan Asian Kitchen has been excellent with average weekly sales in excess of $205,000 since opening, which is a very solid performance for a new concept and for a restaurant that is relatively smaller in size at approximately 7,600 square feet,” concluded Overton.
Conference Call and Webcast A conference call to review the results for the second quarter of fiscal 2008 will be held on Thursday, July 24, 2008 at 10:00 a.m. Pacific Time. The conference call will be broadcast live over the Internet and a replay will be available shortly after the call and continue through August 23, 2008. To listen to the conference call, please go to the Company’s website at thecheesecakefactory.com at least 15 minutes prior to the start of the call to register and download any necessary audio software. Click on the “Investors” link on the home page, and select the link at the top of the page.
About The Cheesecake Factory Incorporated The Cheesecake Factory Incorporated created the upscale casual dining segment in 1978 with the introduction of its namesake concept and continues to define it today with the two highest productivity concepts in the industry. The Company operates 143 restaurants throughout the U.S. under The Cheesecake Factory® name with an extensive menu of more than 200 items and fiscal 2007 average annual unit sales of approximately $10.4 million. Grand Lux Cafe®, the Company’s second concept, has 13 units in operation across the U.S. offering a broad menu of more than 150 items and average annual unit sales of approximately $12.7 million in fiscal 2007. The Company also operates one unit of its newest concept, RockSugar Pan Asian Kitchen™, and two bakery production facilities in Calabasas Hills, CA and Rocky Mount, NC that produce over 60 varieties of quality cheesecakes and other baked products. Additionally, the Company licenses two bakery cafe outlets to another foodservice operator under The Cheesecake Factory Bakery Cafe® mark. For more information, please visit thecheesecakefactory.com.
Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this release are generally identified by words, such as "believes," "anticipates," "plans," "expects," "will," and "would," and similar expressions that are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements. In particular, forward-looking statements regarding the Company’s restaurant sales trends are subject to risks and uncertainties due to national and regional economic and public safety conditions that impact consumer confidence and spending, as well as weather and other factors outside of the Company’s control. Forward-looking statements regarding the number and timing of the Company’s planned new restaurant openings are subject to risks and uncertainties due to factors outside of the Company’s control, including factors that are under the control of government agencies, landlords and others. Approximately 12.9 million shares of the Company’s common stock may be purchased under the Company’s share repurchase authorization. This authorization does not require the Company to purchase a specific number of shares and it may be modified, suspended or terminated at any time. The timing and number of shares repurchased, if any, pursuant to the share repurchase authorization will be subject to a number of factors, including current market conditions, legal constraints and available cash or other sources of funding. Forward-looking statements speak only as of the dates on which they were made. The Company undertakes no obligation to publicly update or revise any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise unless required to do so by the securities laws. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the Securities and Exchange Commission. These filings are available on a website maintained by the Securities and Exchange Commission at www.sec.gov.
The Cheesecake Factory Incorporated and Subsidiaries Consolidated Financial Statements (unaudited; in thousands, except per share and statistical data) Consolidated Statements of Operations 13 Weeks Ended July 1, 2008 13 Weeks Ended July 3, 2007 26 Weeks Ended July 1, 2008 26 Weeks Ended July 3, 2007 Amounts Percent of Revenue Amounts Percent of Revenue Amounts Percent of Revenue Amounts Percent of Revenue Revenues $ 407,134 100.0 % $ 373,167 100.0 % $ 800,937 100.0 % $ 729,750 100.0 % Costs and expenses: Cost of sales 104,540 25.7 % 92,283 24.7 % 205,279 25.6 % 181,843 24.9 % Labor expenses 133,192 32.7 % 120,696 32.3 % 265,715 33.2 % 239,536 32.8 % Other operating costs and expenses 96,243 23.6 % 85,199 22.9 % 192,141 24.0 % 169,993 23.3 % General and administrative expenses 20,211 5.0 % 20,237 5.4 % 40,554 5.1 % 39,709 5.5 % Depreciation and amortization expenses 18,361 4.5 % 15,633 4.2 % 36,454 4.5 % 31,023 4.3 % Preopening costs 4,619 1.1 % 3,724 1.0 % 7,105 0.9 % 6,808 0.9 % Total costs and expenses 377,166 92.6 % 337,772 90.5 % 747,248 93.3 % 668,912 91.7 % Income from operations 29,968 7.4 % 35,395 9.5 % 53,689 6.7 % 60,838 8.3 % Interest expense (4,080 ) (1.0 )% (3,058 ) (0.8 )% (7,619 ) (0.9 )% (4,105 ) (0.5 )% Interest income 596 0.1 % 1,398 0.3 % 1,118 0.1 % 3,030 0.4 % Other income, net 61 0.0 % 272 0.1 % (114 ) 0.0 % 539 0.1 % Income before income taxes 26,545 6.5 % 34,007 9.1 % 47,074 5.9 % 60,302 8.3 % Income tax provision 7,444 1.8 % 10,299 2.7 % 13,644 1.7 % 18,188 2.5 % Net income 19,101 4.7 % 23,708 6.4 % 33,430 4.2 % 42,114 5.8 % Basic net income per share $ 0.29 $ 0.33 $ 0.50 $ 0.57 Basic weighted average shares outstanding 65,474 71,786 66,792 74,404 Diluted net income per share $ 0.29 $ 0.33 $ 0.50 $ 0.56 Diluted weighted average shares outstanding 65,916 72,818 67,240 75,522 Selected Segment Information Revenues: Restaurants 392,604 $ 359,281 771,288 $ 702,362 Bakery 26,736 25,500 53,819 50,440 Intercompany bakery sales (12,206 ) (11,614 ) (24,170 ) (23,052 ) 407,134 $ 373,167 800,937 $ 729,750 Income from operations: Restaurants 46,510 $ 53,238 88,575 $ 95,359 Bakery 2,963 3,696 6,046 7,803 Corporate (19,505 ) (21,539 ) (40,932 ) (42,324 ) 29,968 $ 35,395 53,689 $ 60,838 Selected Consolidated Balance Sheet Information July 1, 2008 January 1, 2008 Cash and cash equivalents $ 93,784 $ 36,867 Investments and marketable securities 1,001 12,362 Total assets 1,143,630 1,145,753 Long-term debt 275,000 175,000 Total liabilities 633,998 582,827 Stockholders' equity 509,632 562,926 13 Weeks Ended 13 Weeks Ended 26 Weeks Ended 26 Weeks Ended Supplemental Information July 1, 2008 July 3, 2007 July 1, 2008 July 3, 2007 Comparable restaurant sales percentage change (1) -4.1 % 1.1 % -3.1 % 0.8 % Restaurants opened during period 5 2 5 3 Restaurants open at period-end (2) 157 135 157 135 Restaurant operating weeks (2) 2,005 1,740 3,993 3,460 (1) Includes The Cheesecake Factory and Grand Lux Cafe (2) Includes The Cheesecake Factory, Grand Lux Cafe and RockSugar Pan Asian Kitchen
She also looks like she chased a fart thru a keg of nails......FUUUUUUUUUUUUUUUUGLY!!!!
Sterling is either a freaking paid tout or a complete idiot.... EITHER WAY BEWARE!
...
48-50
I'll take another shot as well. Thanks for asking!
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
--------------------------------------------------------------------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
July 15, 2008
THE CHEESECAKE FACTORY INCORPORATED
(Exact Name of Registrant as Specified in its Charter)
Delaware
0-20574
51-0340466
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
26901 Malibu Hills Road
Calabasas Hills, California 91301
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code:
(818) 871-3000
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14.d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
--------------------------------------------------------------------------------
SECTION 8 – OTHER EVENTS
ITEM 8.01 OTHER EVENTS
In a press release dated July 15, 2008, The Cheesecake Factory Incorporated announced that it will kick-off its 30 th Anniversary celebration and commemorate National Cheesecake Day on July 30 by offering every slice of its more than 30 varieties of cheesecake at $1.50 per slice, limit one per guest, on that day—as they were when the restaurant first opened in 1978—in all Cheesecake Factory® restaurants. In addition, a special, limited edition cheesecake, the 30 th Anniversary Chocolate Cake Cheesecake, will be introduced on July 30 with $0.25 from the sale of each slice sold this year benefiting the national hunger-relief organization, America’s Second Harvest – The Nation’s Food Bank Network. Additional activities will be announced throughout the year.
The full text of the press release is attached as Exhibit 99.1 to this report and is hereby incorporated by reference herein .
In a press release dated July 16, 2008, The Cheesecake Factory Incorporated announced the appointment of veteran marketing executive Mark Mears to the position of Senior Vice President and Chief Marketing Officer, a newly created position. Mr. Mears will be responsible for all aspects of the Company’s branding, including the development and execution of innovative marketing strategies designed to further build The Cheesecake Factory brand and increase consumer awareness. He will report directly to David Overton, Chairman and CEO.
The full text of the press release is attached as Exhibit 99.2 to this report and is hereby incorporated by reference herein .
In a press release dated July 17, 2008, The Cheesecake Factory Incorporated announced it will release second quarter fiscal 2008 financial results after the market close on Thursday, July 24, 2008. The Company will hold a conference call the same day, hosted by David Overton, Chairman and CEO, and Michael Dixon, Senior Vice President and CFO, at 2:00 p.m. Pacific Time, which will be broadcast live over the Internet.
To listen to the conference call, participants should go to the Company’s website at thecheesecakefactory.com at least 15 minutes prior to the call to register and download any necessary audio software. Click on the “Investors” link on the home page, and select the link for the “Q2 2008 The Cheesecake Factory Earnings Conference Call” at the top of the page. An archive of the webcast will be available shortly after the call and continue through August 23, 2008.
The full text of the press release is attached as Exhibit 99.3 to this report and is hereby incorporated by reference herein .
The Cheesecake Factory to Webcast Second Quarter Fiscal 2008 Earnings Conference Call on July 24, 2008
The Cheesecake Factory Incorporated (NASDAQ:CAKE) today announced it will release second quarter fiscal 2008 financial results after the market close on Thursday, July 24, 2008. The Company will hold a conference call the same day, hosted by David Overton, Chairman and CEO, and Michael Dixon, Senior Vice President and CFO, at 2:00 p.m. Pacific Time, which will be broadcast live over the Internet.
To listen to the conference call, please go to the Company’s website at thecheesecakefactory.com at least 15 minutes prior to the call to register and download any necessary audio software. Click on the “Investors” link on the home page, and select the link for the “Q2 2008 The Cheesecake Factory Earnings Conference Call” at the top of the page. An archive of the webcast will be available shortly after the call and continue through August 23, 2008.
About The Cheesecake Factory Incorporated The Cheesecake Factory Incorporated created the upscale casual dining segment in 1978 with the introduction of its namesake concept and continues to define it today with the two highest productivity concepts in the industry. The Company operates 143 restaurants throughout the U.S. under The Cheesecake Factory® name with an extensive menu of more than 200 items and fiscal 2007 average annual unit sales of approximately $10.4 million. Grand Lux Cafe®, the Company’s second concept, has 13 units in operation across the U.S. offering a broad menu of more than 150 items and average annual unit sales of approximately $12.7 million in fiscal 2007. The Company also operates one unit of its newest concept, RockSugar Pan Asian Kitchen™, and two bakery production facilities in Calabasas Hills, CA and Rocky Mount, NC that produce over 60 varieties of quality cheesecakes and other baked products. Additionally, the Company licenses two bakery cafe outlets to another foodservice operator under The Cheesecake Factory Bakery Cafe® mark. For more information, please visit thecheesecakefactory.com
The Cheesecake Factory Appoints Chief Marketing Officer
The Cheesecake Factory Incorporated (NASDAQ:CAKE) today announced the appointment of veteran marketing executive Mark Mears to the position of Senior Vice President and Chief Marketing Officer, a newly created position. Mr. Mears will be responsible for all aspects of the Company’s branding, including the development and execution of innovative marketing strategies designed to further build The Cheesecake Factory brand and increase consumer awareness. He will report directly to David Overton, Chairman and CEO.
Mr. Mears brings nearly 25 years of brand marketing, advertising and promotions experience to the Company, having worked for national retail and restaurant brands such as JCPenney, Blimpie International and Pizza Hut. His background also includes agency experience with global agencies, Leo Burnett Company, Bozell Worldwide and DDB.
Most recently, Mr. Mears was Senior Vice President of Marketing and Sales for Universal Studios Hollywood, a unit of NBC Universal. At Universal, Mr. Mears was responsible for strategic brand positioning, including the development and implementation of all integrated marketing and sales generating activities for the theme park, studio tour, and the CityWalk restaurant, retail and entertainment complex. Mr. Mears serves as Chairman Emeritus of the Promotion Marketing Association, a professional organization representing thousands of brands worldwide whose objective is to foster a better understanding of promotion and integrated marketing, and its role in the overall marketing process.
“We are excited to have Mark join our senior management team,” said David Overton, Chairman and CEO. “We have an incredibly strong, industry-leading brand and we believe there is a great opportunity for us to leverage it through a strategic marketing program under Mark’s leadership. He has a wealth of expertise across all marketing disciplines and he is well-suited to take our brand building efforts to the next level by developing high-quality marketing strategies—an area where he has demonstrated a successful track record of execution.
“Our entire management team extends a warm welcome to Mark,” concluded Overton.
About The Cheesecake Factory Incorporated The Cheesecake Factory Incorporated created the upscale casual dining segment in 1978 with the introduction of its namesake concept and continues to define it today with the two highest productivity concepts in the industry. The Company operates 143 restaurants throughout the U.S. under The Cheesecake Factory® name with an extensive menu of more than 200 items and fiscal 2007 average annual unit sales of approximately $10.4 million. Grand Lux Cafe®, the Company’s second concept, has 13 units in operation across the U.S. offering a broad menu of more than 150 items and average annual unit sales of approximately $12.7 million in fiscal 2007. The Company also operates one unit of its newest concept, RockSugar Pan Asian Kitchen™, and two bakery production facilities in Calabasas Hills, CA and Rocky Mount, NC that produce over 60 varieties of quality cheesecakes and other baked products. Additionally, the Company licenses two bakery cafe outlets to another foodservice operator under The Cheesecake Factory Bakery Cafe® mark. For more information, please visit thecheesecakefactory.com.
The Cheesecake Factory Serves up a Delicious 30th Anniversary Celebration
Three decades ago, former law student and rock drummer David Overton opened a neighborhood restaurant in Beverly Hills with the aim of showcasing his mother’s desserts. From that original 78-seat venue, The Cheesecake Factory® has grown to over 140 restaurant locations across the U.S., along the way creating a new category of dining called “upscale casual.” With its ever-evolving menu of more than 200 freshly-prepared items, The Cheesecake Factory has made an extensive range of flavors and cuisines accessible to a broad audience, holding “a mirror to the American palate,” according to Time magazine.
Celebrating “30 Delicious Years,” The Cheesecake Factory is serving up several sweet initiatives throughout the year. To kick-off the anniversary celebration and in commemoration of National Cheesecake Day on July 30, The Cheesecake Factory® restaurants will offer every delicious slice of its more than 30 varieties of cheesecake with a dollop of nostalgia by featuring all cheesecakes at $1.50 per slice, limit one per guest, on that day—as they were when the restaurant first opened in 1978. In addition, a special, limited edition cheesecake, the 30th Anniversary Chocolate Cake Cheesecake, will be introduced on July 30 with $0.25 from the sale of each slice sold this year benefiting the national hunger-relief organization, America’s Second Harvest – The Nation’s Food Bank Network. Additional activities will be announced throughout the year.
The Cheesecake Factory story began in Detroit where Evelyn Overton created a stir with her original New York-style cheesecake recipe. A gift for her husband Oscar’s boss brought more requests, leading her to open a small bakery shop. In order to raise a family, Evelyn moved the bakery to the basement of their home.
Their children grown, in 1971 Evelyn and Oscar decided to move their cheesecake business from Detroit to Los Angeles. With their life savings they opened a 700-sq. ft. commercial bakery, called The Cheesecake Factory®, in North Hollywood. Four years later, as sales steadily grew, the Overtons moved into a larger facility in suburban Woodland Hills, allowing Evelyn to create more than 20 varieties of her delicious cheesecakes and other desserts, which were snapped up by hundreds of wholesale accounts from Santa Barbara to San Diego and beyond.
On February 25, 1978, having briefly studied law and played drums in San Francisco rock bands (even appearing on the same bill as Janis Joplin), David Overton decided to open a modest restaurant in Beverly Hills focused on his mother’s popular desserts. Five years later, after earning a reputation for its eclectic menu, sharable portions and signature cheesecakes, The Cheesecake Factory opened a second restaurant in Marina del Rey, and from there dotted the landscape with restaurant locations opening across the country. In 1999, the Company’s second concept, Grand Lux Cafe®, opened at the Venetian Resort in Las Vegas, offering “casual global cuisine” in an atmosphere that captured the grandeur and luxury of fine European cafes. And last month saw the debut of the Company’s newest concept, RockSugar Pan Asian Kitchen™, a unique offering in upscale casual dining featuring the cuisines of Thailand, Vietnam, Malaysia, Singapore, Indonesia and India.
In dedication to his parents, who achieved the American Dream through their entrepreneurship and fanatical attention to quality, in 2001 David Overton established The Cheesecake Factory Oscar & Evelyn Overton Charitable Foundation. Among myriad efforts through the Foundation, The Cheesecake Factory prepares and serves an annual Thanksgiving Day Feast at Salvation Army shelters in nearly a dozen cities. It also supports organizations such as the City of Hope, last year fulfilling a five-year commitment to donate $1 million through its annual charity golf tournament.
At the heart of the brand’s 30-year success is an enduring commitment to guest service, a spirit of excellence, and innovation that brings guests back again and again. From the moment guests enter The Cheesecake Factory, they know they are someplace special – with its vibrant décor, friendly, knowledgeable staff and diverse menu. The Cheesecake Factory prepares all of its recipes from scratch, made to order, using only high-quality ingredients. Along with antibiotic-free chicken, premium beef and humanely caught fresh fish, its produce is sourced from premium growers and its cooking oils contain zero trans fats. With a varied menu that includes healthy Weight Management Salad™ and entrée options, and a wide selection of lunch portions based on the restaurant’s most popular items, there’s nothing that America wants to eat that can’t go on The Cheesecake Factory menu.
While its legendary family cheesecake recipe has become an authentic American standard, The Cheesecake Factory remains well ahead of the curve in culinary trends. Time magazine praised the restaurant’s menu for continually growing and changing, much like an annual family portrait. During the late ‘70s and early ‘80s, David Overton “stuffed the sandwiches with sprouts, served espresso drinks nine years before Starbucks did, and kept himself open to new ideas.” From its Cuban Sandwich to the Baja Chicken Tacos, Cajun Jambalaya Pasta to Jamaican Black Pepper Shrimp, Miso Salmon to Vietnamese Summer Rolls, the restaurant has not only infused tastes trending toward the mainstream but, indeed, has helped to make them mainstream. Says Time, “By keeping the door open to Asia, Latin America and Africa,” among other regions, the menu of The Cheesecake Factory has earned a reputation for being “as inclusive as America itself.” About The Cheesecake Factory Incorporated The Cheesecake Factory Incorporated (NASDAQ:CAKE) created the upscale casual dining segment in 1978 with the introduction of its namesake concept and continues to define it today with the two highest productivity concepts in the industry. The Company operates 143 restaurants throughout the U.S. under The Cheesecake Factory® name with an extensive menu of more than 200 items and fiscal 2007 average annual unit sales of approximately $10.4 million. Grand Lux Cafe®, the Company’s second concept, has 13 units in operation across the U.S. offering a broad menu of more than 150 items and average annual unit sales of approximately $12.7 million in fiscal 2007. The Company also operates one unit of its newest concept, RockSugar Pan Asian Kitchen™, and two bakery production facilities in Calabasas Hills, CA and Rocky Mount, NC that produce over 60 varieties of quality cheesecakes and other baked products. Additionally, the Company licenses two bakery cafe outlets to another foodservice operator under The Cheesecake Factory Bakery Cafe® mark. For more information, please visit thecheesecakefactory.com.
About America’s Second Harvest – The Nation’s Food Bank Network America's Second Harvest — The Nation's Food Bank Network is the largest charitable domestic hunger-relief organization in the United States. Through its network of more than 200 member food banks, America's Second Harvest annually provides assistance to more than 25 million people in need, including more than 9 million children and nearly 3 million seniors in all 50 states, the District of Columbia and Puerto Rico. Each year, America's Second Harvest secures and distributes more than 2 billion pounds of food and grocery products to support feeding programs at approximately 63,000 local charitable agencies, including food pantries, soup kitchens, emergency shelters, after-school programs, and Kids Cafes. To learn more, please visit www.secondharvest.org.
What I listened to was new as it talked about the sales $ of Iron Man. That was why I visited this board...
Just trying to figure out what this company actually owns after hearing Stan on the Dennis Miller show the other day. Anyone shed any light?