Company blames effects of Hurricane Irene on mixed performance
The Cheesecake Factory Inc. faulted Hurricane Irene for third-quarter losses, saying the storm took a significant toll on its restaurants over the summer, according to the company’s third-quarter earnings report. Net income declined 6.3 percent for the quarter ended Sept. 27 to $20.6 million, or 36 cents per share, compared with $22 million, or 37 cents per share, for the same period a year ago. According to Thomson Reuters, analysts expected earnings of 38 cents per share. Revenue for ...
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Contact: Desiree Torres Desiree.Torres@penton.com