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Cheesecake Factory's Weak Trends Take A Slice Out Of Q2 Results

Cheesecake Factory Inc (NASDAQ: ) reported second-quarter adjusted earnings that exceeded estimates while revenues were shy of estimates. Citing the challenging restaurant environment, the company lowered its 2017 adjusted EPS guidance.

Stephens noted that first-quarter comps were -0.5 percent, its first in 27 quarters, versus the 1 percent drop the company preannounced. The 0.5 percent drop was accounted for by a 2.4 percent drop in traffic, a 0.3 percent decline in mix and a 2.2 percent positive impact from pricing.

The company said on the call the April shift benefited the first part of the quarter, but softening industry and weather hurt May, and June proceeded with a slightly negative run rate.


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