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Cheesecake Factory (CAKE) Unveils First Restaurant in Qatar
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The Cheesecake Factory (CAKE - Free Report) opened its first restaurant in Doha, Qatar on Dec 10, 2016 under a licensing agreement. This marks the company’s eleventh licensed restaurant in the Middle East. It will provide a wide array of dishes for shoppers and area residents.
Cheesecake Factory is one of the most recognized upscale casual restaurants operating in the U.S. The company is also foraying into lucrative international markets of late, like the Middle East, North Africa, Central and Eastern Europe, Russia, Turkey, Mexico, Kuwait, Lebanon and Chile. This is being done to keep pace with the strategies followed by other restaurant industry giants like Yum! Brands, Inc. (YUM - Free Report) , McDonalds Corporation (MCD - Free Report) and Papa John’s International, Inc. (PZZA - Free Report) .
Notably, the company posted the 27th consequent quarter of positive comps. Going forward, various initiatives to boost sales and traffic volumes coupled with menu innovation should aid in keeping the trend alive. Internationally, it expects to open four to five restaurants under licensing agreements in 2017.
Investors should note that Cheesecake Factory’s shares have gained 37% year to date, significantly outpacing the 2.47% growth of the Zacks categorized Retail Food & Restaurants industry. This price performance is backed by a favorable estimate revision. The company's current-year estimates witnessed a 3.3% upward revision over the last 60 days.
Moreover, this company’s earnings surpassed the Zacks Consensus Estimate consistently over the past seven consecutive quarters. Given the company’s solid comps performance compared to its peers as a result of the brand’s strong consumer affinity, the stock should keep performing well in the quarters ahead. It carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Cheesecake Factory (CAKE) Unveils First Restaurant in Qatar
The Cheesecake Factory (CAKE - Free Report) opened its first restaurant in Doha, Qatar on Dec 10, 2016 under a licensing agreement. This marks the company’s eleventh licensed restaurant in the Middle East. It will provide a wide array of dishes for shoppers and area residents.
Cheesecake Factory is one of the most recognized upscale casual restaurants operating in the U.S. The company is also foraying into lucrative international markets of late, like the Middle East, North Africa, Central and Eastern Europe, Russia, Turkey, Mexico, Kuwait, Lebanon and Chile. This is being done to keep pace with the strategies followed by other restaurant industry giants like Yum! Brands, Inc. (YUM - Free Report) , McDonalds Corporation (MCD - Free Report) and Papa John’s International, Inc. (PZZA - Free Report) .
Notably, the company posted the 27th consequent quarter of positive comps. Going forward, various initiatives to boost sales and traffic volumes coupled with menu innovation should aid in keeping the trend alive. Internationally, it expects to open four to five restaurants under licensing agreements in 2017.
Investors should note that Cheesecake Factory’s shares have gained 37% year to date, significantly outpacing the 2.47% growth of the Zacks categorized Retail Food & Restaurants industry. This price performance is backed by a favorable estimate revision. The company's current-year estimates witnessed a 3.3% upward revision over the last 60 days.
Moreover, this company’s earnings surpassed the Zacks Consensus Estimate consistently over the past seven consecutive quarters. Given the company’s solid comps performance compared to its peers as a result of the brand’s strong consumer affinity, the stock should keep performing well in the quarters ahead. It carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>