Latest news with #MatthewClark
Miami Herald
31-07-2025
- Business
- Miami Herald
The Cheesecake Factory unveils new affordable menu categories
The Cheesecake Factory is known for having one of the most extensive menus in the restaurant industry, featuring hundreds of dish options spanning a wide range of cuisines. However, its vast menu often comes with equally generous price tags. Now, the restaurant chain is once again expanding its menu, this time introducing two entirely new categories: Bowls and Bites. Don't miss the move: Subscribe to TheStreet's free daily newsletter This latest addition features 14 new items specifically created to appeal to value-conscious diners, providing them with more affordable and flexible options. The Cheesecake Factory aims to attract more guest traffic and increase overall sales while maintaining the variety it is renowned for. New menu highlights The new bowl category includes six options, such as Teriyaki Salmon Bowl, an Orange-Color Flower Bowl, and a Peruvian Chicken Bowl. Each is priced between $15 and $16, offering a full meal at a competitive new bites selection includes eight smaller plates that range from $10 to $15 per dish. These include the New Orleans Cajun Shrimp, Chicken and Biscuits, and Meatball Sliders. To ensure the new offerings stand out among The Cheesecake Factory's massive menu, the company will feature them on a separate menu card. This will encourage guests to explore the latest offerings without getting lost in all the options on the main menu. "When we look at what we're doing from a value perspective, on effective pricing, I think it's going to be well below where the industry is at, and we're driving significant value for the consumer," said The Cheesecake Factory CEO Matthew Clark in an earnings call. Image source:The coming months will be critical for The Cheesecake Factory (CAKE) , since the new additions will give it an idea of how customers react. The new menu categories could become standalone favorites that bring in customer traffic but lower ticket sales, or act as value add-ons that increase overall spending. The company says the Bites category has great potential to increase check averages by encouraging guests to add them to their regular meals, since they have a lower price point than most items on the menu. At the same time, the competitive pricing of the Bowls category could lure customers looking for affordable meal alternatives to more expensive entrées, leading them to choose The Cheesecake Factory over its competitors. The company also hinted at a marketing push focused on daytime dining, particularly on weekdays. This suggests that lunch deals or targeted promotions may come with the rollout to attract consumers' attention. Either way, the new Bowls and Bites lineup is a strategic way for The Cheesecake Factory to meet consumers' needs and demands, evolve with ever-changing trends, and drive growth. If your bill at The Cheesecake Factory has felt more expensive than usual, that's because it is. But even with the price increase, its loyal fanbase continues to splurge on special occasions, even if it means going less often. The Cheesecake Factory raised its prices by 4% during the second quarter of fiscal 2025, contributing to a 1.1% decline in traffic. More Food News: Even free burritos aren't enough to win back Chipotle customersPepsi issues stern message to employees after mass closuresDomino's Pizza menu change brought customers back To reverse these negative results, the company is now prioritizing value-driven offerings as part of its new business strategy to regain lost market share. With the introduction of its new menu categories, pricing is expected to decline around 2% to 2.5%. Despite the dip in traffic, comparable sales still increased by 1.2%, driving record-high average weekly sales for the company. This highlights the strong loyalty of Cheesecake Factory fans, despite an increase in overall food prices and a slowdown in consumer spending. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
30-07-2025
- Business
- Yahoo
Cheesecake Factory adds value-oriented bowls and bites to menu
You can find original article here Nrn. Subscribe to our free daily Nrn newsletter. The Cheesecake Factory Inc., already known for its large menu, is expanding it with two new menu categories aimed at value-conscious customers: bowls and small-plate bites, the company said. Executives at the Calabasas Hills, Calif.-based casual-dining company, said in a second quarter earnings call Tuesday that 'strategic menu innovation remains core to our success.' 'Our new bowl selection includes six thoughtfully crafted options, such as the teriyaki salmon bowl, Orange-Color Flower Bowl and the Peruvian Chicken Bowl,' said David Gordon, The Cheesecake Factory president. The Cheesecake Factory also introduced eight new 'bites,' or smaller plates offered at lower price points. In total, the brand is adding 14 new dishes across the two categories. 'These are designed to drive interest and offer new ways to enjoy the menu,' Overton said. 'With items like New Orleans Cajun Shrimp, chicken and biscuits, and meatball sliders, these new offerings reinforce the relevance of our menu and the strength of our innovation strategy.' Matthew Clark, Cheesecake Factory's chief financial officer, said the company raised prices by about 4% in the second quarter and traffic was down about 1.1% 'We're really focused on getting that traffic back to the positive side of the ledger,' Clark said. 'The bowls are in the $15 to $16 range,' he explained. 'We're driving significant value for the consumer.' Gordon added that Cheesecake Factory is 'taking all of the new menu items and putting them on a separate card to ensure that guests see them, and they don't get lost in the menu.' Overton said The Cheesecake Factory saw record average weekly sales in the second quarter, supported by off-premises sales of 21%. Those off-premises sales were consistent with the average of the prior four quarters, he said. At North Italia, second--quarter average unit volumes increased by 2%, reaching $8 million. Same-store sales declined 1%, reflecting some continued impact from the Los Angeles fires. Clark said average North Italia unit volumes are about $8 million. Etienne Marcus, The Cheesecake Factory's vice president of finance, said North Italia's price increases were 4% in the second quarter and traffic was negative 4%. Flower Child, the fast-casual concept, saw same-store sales increase by 4%. The improvement resulted in average weekly sales of $91,400 for an annualized average unit volume of more than $4.8 million. Experiential dining remains important, Gordon added. 'We think we provide that at all of our concepts, from Cheesecake Factory to a higher-end fast-casual Flower Child, which very much is an experience, not just a transaction,' he said. Gordon said younger customers especially are moving away from transactional purchases. He added that The Cheesecake Factory's concepts offer sophisticated design and 'high-touch hospitality. Today's consumer appreciates that.' For the second quarter ended July 1, The Cheesecake Factory's net income was $54.8 million, or $1.14 a share. Second-quarter revenues of $955.8 million were up from $904 million in the same period of 2024. Second-quarter net income was $54.8 million, and diluted net income per share was $1.14. The Cheesecake Factory owns and operates 363 restaurants throughout the United States and Canada. Another 34 Cheesecake Factory restaurants operate internationally under licensing agreements. Contact Ron Ruggless at Follow him on X/Twitter: @RonRuggless Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-07-2025
- Business
- Yahoo
Cheesecake Factory Inc (CAKE) Q2 2025 Earnings Call Highlights: Record Sales and Strategic ...
Total Revenue: $956 million. Adjusted Net Income Margin: 5.8%. Cheesecake Factory Sales: $683.3 million, up 1% year-over-year. Cheesecake Factory Comparable Sales: Increased 1.2%. North Italia Sales: $90.8 million, up 20% year-over-year. Flower Child Sales: $48.2 million, up 35% year-over-year. Flower Child Comparable Sales: Increased 4%. Restaurant Openings: Eight new restaurants opened in Q2. Cheesecake Factory Restaurant Margin: Increased to 18.5%, up 80 basis points year-over-year. North Italia Restaurant Margin: Improved 290 basis points to 18.2%. Flower Child Restaurant Margin: Reached 20.4%. Cash Balance: $148.8 million. Total Debt: $644 million. Capital Expenditures: Approximately $42 million in Q2. Shareholder Returns: $14.3 million returned via dividends. Warning! GuruFocus has detected 5 Warning Sign with KRC. Release Date: July 29, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Cheesecake Factory Inc (NASDAQ:CAKE) reported second quarter results that exceeded expectations, with consolidated revenues and adjusted earnings per share setting new milestones. The company achieved a record high average weekly sales and realized unit volumes of nearly $12.8 million for the quarter. Cheesecake Factory's four-wall restaurant margin increased to 18.5%, the highest level recorded in eight years. The company successfully opened eight new restaurants in the second quarter and plans to open as many as 25 new restaurants in 2025. Flower Child, a concept under Cheesecake Factory Inc, saw second quarter comparable sales increase by 4%, significantly outperforming the Black Box fast casual dining index. Negative Points Comparable sales for North Italia declined by 1%, partly due to the impact of Los Angeles fires and sales transfer from new restaurants. Cheesecake Factory's traffic was down 1.1% in the second quarter, despite a 4% increase in net effective pricing. Other operating expenses increased by 40 basis points, primarily driven by higher facility-related costs. Pre-opening costs rose to $9 million in the quarter compared to $7 million in the prior year period. The company recorded a pre-tax net expense of $1.2 million related to FRC acquisition-related items and impairment of assets and lease termination expenses. Q & A Highlights Q: As it relates to the increase in the net income margin for 2025 from 4.75% to 4.9%, is this primarily operationally driven at the store level? A: Matthew Clark, CFO: Yes, the improvement is operationally driven. Our expectations for the four-wall margin have increased due to better-than-expected Q2 results, reflecting operational excellence and stable sales trends. Q: Can you provide some perspective on labor retention levels relative to pre-pandemic or prior peaks? A: David Gordon, President: Our staff and management retention levels are as good as or better than pre-pandemic levels, driven by our strong company culture and career growth opportunities. This retention helps reduce overtime and training costs, contributing to labor productivity. Q: On Cheesecake Factory, can you share the Q2 breakdown related to price and mix and the implied traffic? A: Matthew Clark, CFO: The net effective pricing in Q2 was about 4% for Cheesecake Factory. Traffic was down 1.1%, and mix accounted for the balance. We aim to improve traffic while maintaining stable sales. Q: Did the February menu update lead to a noticeable customer response in terms of innovation? A: David Gordon, President: Yes, the new menu items were highlighted on a separate card to ensure visibility. The previous menu change in February showed good stickiness, and we expect the new menu to be equally or more successful. Q: Can you provide insights on Flower Child's profitability and unit economics? A: Matthew Clark, CFO: Flower Child's mature unit margins reached 20.4%, with AUVs approaching $5 million. The concept is performing exceptionally well, with returns in the mid-30s, and we expect it to play a larger role in our results going forward. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Business Insider
22-07-2025
- Business
- Business Insider
Piper Sandler Keeps Their Buy Rating on Preferred Bank (PFBC)
Piper Sandler analyst Matthew Clark maintained a Buy rating on Preferred Bank today and set a price target of $112.00. The company's shares closed today at $97.01. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Clark is a 4-star analyst with an average return of 9.4% and a 58.59% success rate. Clark covers the Financial sector, focusing on stocks such as Columbia Banking System, Preferred Bank, and Cathay General Bancorp. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Preferred Bank with a $99.00 average price target.
BBC News
19-05-2025
- Health
- BBC News
Guildford widow encourages people to get their heart checked
A widow from Surrey has encouraged people to "ask for help before it's too late" after losing her husband to a heart attack at the age of Clark, from Guildford, lost "fit and healthy" husband Matthew in January said: "Ask for help before it's too late, and I say this because I wish my husband had done that."The mother-of-two added: "The consequences of when we don't go to the doctors, or when we wait, or when we feel it's not appropriate, or we think it's nothing to worry about, that's when we do lose people too early." In Surrey in 2023, heart and circulatory diseases caused 217 deaths in people aged between 20 and 64, which was a 10% rise in five years, according to the British Heart Foundation (BHF).The charity said since 2020 in Surrey there had also been a 33% rise in the number of people diagnosed with heart failure and a 11% rise in the number of people diagnosed with atrial fibrillation - a type of heart rhythm had also been a concerning rise in the number of under-65s dying from heart problems since 2020, which was the first sustained increase in at least a generation, the BHF Clark encouraged anybody who was concerned about their heart to "not even wait a minute" to get checked. She said: "I think personally not many people want to get checked, even they think 'oh, it's probably nothing'. "We have this sort of mentality where we don't want to take time from someone who can help us. "We know everybody is busy, we know the NHS is under great pressure."The Department of Health and Social Care (DHSC) said: "We are tackling the root causes of cardiovascular conditions by clamping down on smoking and obesity, as part of our Plan for Change to shift care from sickness to prevention."We are also delivering more tests and scans in the community alongside greater use of technology to help people manage their conditions closer to home and reduce hospital admissions."
