Latest news with #CheesecakeFactoryInc
San Francisco Chronicle
29-07-2025
- Business
- San Francisco Chronicle
Cheesecake Factory: Q2 Earnings Snapshot
CALABASAS HILLS, Calif. (AP) — CALABASAS HILLS, Calif. (AP) — The Cheesecake Factory Inc. (CAKE) on Tuesday reported second-quarter earnings of $54.8 million. On a per-share basis, the Calabasas Hills, California-based company said it had profit of $1.14. Earnings, adjusted for one-time gains and costs, were $1.16 per share. The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share. The restaurant chain posted revenue of $955.8 million in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $946.8 million. _____
Yahoo
08-07-2025
- Business
- Yahoo
Cheesecake Factory denies knowingly hiring undocumented employees
You can find original article here Nrn. Subscribe to our free daily Nrn newsletter. The Cheesecake Factory Inc. disputes a trafficking lawsuit that alleges the company knowingly recruited and hired undocumented workers at a Willow Grove, Pa., unit and subjected them to abusive conditions. 'The allegations in the complaint are entirely false and without merit,' Sidney Greathouse, senior vice president of legal services, at the Calabasas Hills, Calif.-based company, said in a statement. 'The company follows well-established internal protocols to ensure consistent compliance with all federal employment verification laws, including our obligations under Form I-9 requirements,' Greathouse said. 'We take these matters seriously and intend to vigorously defend against these baseless accusations through the appropriate legal channels. We are confident that the facts will clearly demonstrate the integrity of our practices.' Two male workers and three female workers at the Willow Grove restaurant alleged in a June 19 lawsuit, Doe A.S.M. v. The Cheesecake Factory Inc., that they provided them with false employment documents and forced them to work unpaid hours, including overtime. The complaint also alleges they were denied bathroom and meal breaks and forced to work during the COVID-19 lockdown under unsafe conditions. The workers also claimed management threatened to deport them if they didn't work hard or fast enough while forcing them to sign documents in English. The plaintiffs sued Cheesecake Factory for violations of the federal Trafficking Victim Protection Reauthorization Act and Title VII of the Civil Rights Act of 1964 as well as Pennsylvania's Human Trafficking Act and Human Rights Act. Recent enforcement actions by President Donald Trump's administration against the employment of noncitizen immigrants have increased the risk for employers. The case involves E-Verify, a web-based system through which employers can electronically confirm an employee's eligibility to work in the United States. The system takes information from an employee's Form I-9 — the employment eligibility verification document that must be submitted for all employees — and electronically compares that information with records available to the Department of Homeland Security and the Social Security Administration. Contact Ron Ruggless at Follow him on X/Twitter: @RonRuggless Sign in to access your portfolio
San Francisco Chronicle
30-04-2025
- Business
- San Francisco Chronicle
Cheesecake Factory: Q1 Earnings Snapshot
CALABASAS HILLS, Calif. (AP) — CALABASAS HILLS, Calif. (AP) — The Cheesecake Factory Inc. (CAKE) on Wednesday reported first-quarter net income of $32.9 million. On a per-share basis, the Calabasas Hills, California-based company said it had net income of 67 cents. Earnings, adjusted for one-time gains and costs, came to 93 cents per share. The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share. The restaurant chain posted revenue of $927.2 million in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $925.5 million. Cheesecake Factory shares have increased 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $50.37, a rise of 46% in the last 12 months. _____
