Cheesecake Factory On Expansion Spree, Opens Outlet In Orlando
Zacks Investment Research | Dec 10, 2019 08:35PM ET
To expand presence in the domestic market, The Cheesecake Factory Incorporated (NASDAQ:CAKE) announced the opening of its new restaurant in Orlando, FL. The restaurant, located in Vineland Pointe, will offer more than 250 menu items along with over 50 signature cheesecakes and desserts.
As of Dec 10, 2019, the company operates 294 full-service company-owned restaurants in the United States and Canada under brands including The Cheesecake Factory, North Italia, and a collection within the Fox Restaurant Concepts subsidiary. Internationally, the company operates 25 restaurants under licensing agreements along with two bakery production division.
Expansion & Sales-Building Efforts Bode Well
Cheesecake Factory continues to focus on expanding in domestic and international markets. In 2019, the company plans to open five company-owned restaurants — including the Gainesville, FL location that was opened during the fiscal third quarter.
Internationally, the company opened its second restaurant in Abu Dhabi and debuted in Macau in fiscal third quarter. During fiscal fourth quarter, it expects to open three additional locations and one North Italia restaurant. Overall, the company expects to open six locations in 2019 under licensing agreements.
Management believes that the company is likely to open more than 20 new restaurants — including as many as six Cheesecake Factory locations, six North Italia restaurants and eight restaurants within the FRC subsidiary — by 2020.
Notably, shares of the company have outperformed the Zacks Original post
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