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Article: Schaeffer's Street Stories: Wall Street Hammers The Cheesecake Factory Inc.
- Article from:
- Business Wire
- Article date:
- February 13, 2009
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CINCINNATI -- The Cheesecake Factory Inc. (NASDAQ: CAKE) is down more than 12% this afternoon following the company's earnings report. The restaurant operator reported that its quarterly net income slipped to $7.1 million, or 12 cents per share, from $13.3 million, or 19 cents per share, a year earlier. Excluding charges, its earnings for the most recent quarter were 15 cents per share, beating analysts' average estimate by a penny. Total revenue fell 1.5% to $400.4 million, while sales at restaurants open at least 18 months fell 7.1% overall, due ...