OREANDA-NEWS. The Cheesecake Factory Incorporated (NASDAQ: CAKE)today updated its outlook for second quarter fiscal 2017 comparable sales ahead of two conference presentations this week. The Company now expects comparable sales at The Cheesecake Factory restaurants for the second quarter of fiscal 2017 to be down approximately 1%. The Company expects this to impact second quarter margins and earnings per share.

“We have continued to outperform the casual dining industry quarter to date, with over half of our regions posting positive comparable sales for the period, including key markets of California, Texas and Florida,” said David Overton, Chairman and Chief Executive Officer. “More broadly however, we have seen heightened volatility in week to week sales trends, indicative of uncertainty on the part of many consumers. Specifically, we have seen pockets of softness as we moved through the quarter, notably in the East and Midwest where we also faced unfavorable weather that reduced patio usage.”

Overton continued, “We believe The Cheesecake Factory brand is as strong as ever and our underlying operating metrics remain solid. We are managing the business for the long term, continuing to provide delicious and memorable dining experiences for our guests, while executing on our diversified growth drivers and effectively allocating our strong cash flow to position the Company to generate sustained shareholder returns.”

The Company will present at the William Blair 37th Annual Growth Stock Conference in Chicago today at 8:50 a.m. Central Time and the Piper Jaffray 37th Annual Consumer Conference in New York City tomorrow at 9:05 a.m. Eastern Time. 

About The Cheesecake Factory Incorporated

The Cheesecake Factory Incorporated created the upscale casual dining segment in 1978 with the introduction of its namesake concept. The Company, through its subsidiaries, owns and operates 207 full-service, casual dining restaurants throughout the U.S.A. and Puerto Rico, including 193 restaurants under The Cheesecake Factory® mark; 13 restaurants under the Grand Lux Cafe® mark; and one restaurant under the Rock Sugar Pan Asian Kitchen® mark. Internationally, 16 The Cheesecake Factory® restaurants operate under licensing agreements. The Company’s bakery division operates two bakery production facilities, in Calabasas Hills, CA and Rocky Mount, NC, that produce quality cheesecakes and other baked products for its restaurants, international licensees and third-party bakery customers. In 2017, the Company was named to the FORTUNE Magazine “100 Best Companies to Work For®” list for the fourth consecutive year. To learn more about the Company, visit www.thecheesecakefactory.com.

FORTUNE and FORTUNE 100 Best Companies to Work For® are registered trademarks of Time Inc. and are used under license. From FORTUNE Magazine, March 15, 2017 ©2017 Time Inc. Used under license. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of, The Cheesecake Factory Incorporated.