Cheesecake Factory

“Shares of Cheesecake Factory, traded on Nasdaq under the ticker “CAKE,” surged 12% to just below $101 as of Wednesday afternoon.”

“The restaurant chain reported on Tuesday quarterly revenue above $1 billion for the first time”

“net income jumped to $68.4 million, surpassing FactSet estimates of $999 million and $57.5 million, respectively.”

“Nearly 91%. That’s how much Cheesecake Factory’s stock has grown this year, almost doubling in value after opening the year at just over $52.”

“Its market value has also swelled to nearly $5 billion, a record and a more than 500% turnaround since falling below $1 billion in 2020.”

“The Cheesecake Factory, which began as a bakery in 1972 before Overton opened the first restaurant in 1978, has expanded to 375 locations across the U.S. and Canada.”

“the new dessert officially lands at Cheesecake Factory locations across the country on July 30.”