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The Cheesecake Factory’s Q1 Results: EPS Above Forecasts, CEO Expects a “Strong Restart”

Rhian Hunt, The Motley Fool
·2-min read
The Cheesecake Factory’s Q1 Results: EPS Above Forecasts, CEO Expects a “Strong Restart”

The company's first quarter 2020 results, published yesterday, show that its comparable restaurant sales fell by 12.9% year over year despite the strong start before the virus arrived. Diluted EPS came in at $0.04 per share, beating the analyst consensus estimate reported by Zack's by a full $0.50. During the ensuing earnings conference call, CEO David Overton said that the company's long experience in off-premise sales helped it switch over more successfully to a model relying exclusively on these purchases, with dine-in closed down during the epidemic.

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