Cheesecake Factory (NASDAQ:CAKE) on Wednesday posted better-than-expected earnings for the first quarter.
The company reported quarterly earnings of $1.05 per share which beat the analyst consensus estimate of $1.01 per share. The company reported quarterly sales of $978.833 million which beat the analyst consensus estimate of $964.891 million.
“We delivered strong first quarter results, with revenue, margins and earnings finishing above our expectations,” said David Overton, Chairman and Chief Executive Officer. “Our top-line performance was led by comparable sales growth at The Cheesecake Factory restaurants, which outperformed the broader casual dining industry in the quarter. These results, delivered in a competitive environment and …