Cheesecake Factory reports Q2 adjusted EPS 59c, consensus 61c Reports Q2 revenue $496.4M, consensus $502.26M. Comparable restaurant sales at The Cheesecake Factory and Grand Lux Cafe increased 1.2% in the second quarter. By concept, comparable restaurant sales grew 1.5% at The Cheesecake Factory and declined 2.7% at Grand Lux Cafe.
Cheesecake Factory initiated with a Sell at Goldman Goldman initiated Cheesecake Factory with a Sell and $51 price target. The firm believes Cheesecake's higher-income customer base and capacity constraints indicate the company will achieve relative underperformance versus the group.