Cheesecake Factory Inc. Files 2024 10-K Report

TL;DR

<b>The Cheesecake Factory Inc. has filed its 2024 10-K, detailing financial statements and corporate information.</b>

AI Summary

CHEESECAKE FACTORY INC (CAKE) filed a Annual Report (10-K) with the SEC on February 26, 2024. The Cheesecake Factory Incorporated filed its annual report on Form 10-K for the fiscal year ended January 2, 2024. The filing covers the company's financial performance and business operations. Key financial statement components like Treasury Stock, Retained Earnings, and Additional Paid-In Capital are detailed for fiscal years ending January 2, 2024, January 3, 2023, and December 28, 2021. The report includes information on Common Stock and Preferred Stock for the same periods. The company's principal executive offices are located at 26901 Malibu Hills Rd, Calabasas Hills, CA 91301.

Why It Matters

For investors and stakeholders tracking CHEESECAKE FACTORY INC, this filing contains several important signals. This 10-K filing provides investors and analysts with a comprehensive overview of the company's financial health and strategic positioning for the past fiscal year. Understanding the detailed financial statements, including changes in equity accounts, is crucial for assessing the company's stability and future growth prospects.

Risk Assessment

Risk Level: low — CHEESECAKE FACTORY INC shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain any immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements within the 10-K to understand changes in equity and retained earnings for insights into profitability and capital management.

Key Numbers

• 2024-01-02 — Fiscal Year End (Conformed Period of Report)
• 2024-02-26 — Filed As Of Date (Date of filing)
• 0000887596 — Central Index Key (Company identifier)
• 5812 — Standard Industrial Classification (Retail-Eating Places)

Key Players & Entities

• CHEESECAKE FACTORY INC (company) — Filer name
• 2024-01-02 (date) — Fiscal year end
• 2024-02-26 (date) — Filing date
• 0000887596 (company) — Central Index Key
• 26901 MALIBU HILLS RD (address) — Business address street 1
• CALABASAS HILLS (location) — Business address city
• CA (location) — Business address state
• 91301 (postal_code) — Business address zip

FAQ

Industry Context

The Cheesecake Factory Inc. operates within the restaurant industry, specifically focusing on casual dining establishments.

Regulatory Implications

The filing is a standard 10-K report required by the Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Analyze the detailed financial statements for the fiscal years ending 2024, 2023, and 2021.
2. Examine any disclosures related to executive compensation or risk factors if they become available in subsequent filings or summaries.
3. Compare key financial metrics from this 10-K with previous filings to identify trends.

Key Dates

• 2024-01-02: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-26: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing is the 2024 10-K, representing the company's annual disclosure for the most recent fiscal year.

Key Financial Figures

• $30.54 — verages and desserts, was approximately $30.54 during fiscal 2023. 5 Table of Conten

Filing Documents

• cake-20240102x10k.htm (10-K) — 3002KB
• cake-20240102xex21d1.htm (EX-21.1) — 2KB
• cake-20240102xex23d1.htm (EX-23.1) — 5KB
• cake-20240102xex31d1.htm (EX-31.1) — 15KB
• cake-20240102xex31d2.htm (EX-31.2) — 16KB
• cake-20240102xex32d1.htm (EX-32.1) — 8KB
• cake-20240102xex32d2.htm (EX-32.2) — 8KB
• cake-20240102xex97d1.htm (EX-97.1) — 38KB
• cake-20240102x10k003.jpg (GRAPHIC) — 67KB
• 0001104659-24-027565.txt (&nbsp;) — 12157KB
• cake-20240102.xsd (EX-101.SCH) — 73KB
• cake-20240102_cal.xml (EX-101.CAL) — 97KB
• cake-20240102_def.xml (EX-101.DEF) — 249KB
• cake-20240102_lab.xml (EX-101.LAB) — 717KB
• cake-20240102_pre.xml (EX-101.PRE) — 492KB
• cake-20240102x10k_htm.xml (XML) — 2176KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 17 Item 1B. Unresolved Staff Comments 36 Item 1C . Cybersecurity 36 Item 2.

Properties

Properties 37 Item 3.

Legal Proceedings

Legal Proceedings 38 Item 4. Mine Safety Disclosures 38 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 39 Item 6. Reserved 41 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 41 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 52 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 52 Item 9A.

Controls and Procedures

Controls and Procedures 53 Item 9B. Other Information 53 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 53 PART III Item 10. Directors, Executive Officers and Corporate Governance 54 Item 11.

Executive Compensation

Executive Compensation 54 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 54 Item 13. Certain Relationships and Related Transactions, and Director Independence 54 Item 14. Principal Accountant Fees and Services 54 PART IV Item 15. Exhibits, Financial Statement Schedules 55 Item 16. Form 10-K Summary 55 1 Table of Contents PART I

Forward-Looking Statements

Forward-Looking Statements Certain information included in this Form 10-K and other materials we have filed or may file with the Securities and Exchange Commission ("SEC"), as well as information included in our oral or written statements, may contain forward-looking statements about our current and presently expected performance trends, growth plans, business goals and other matters. These statements may be contained in our filings with the SEC, in our press releases, in other written communications, and in oral statements made by or with the approval of one of our authorized officers. These statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as codified in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (together with the Securities Act, the "Acts"). This includes, without limitation, statements regarding corporate social responsibility ("CSR") and in our CSR report, the effects of geopolitical and macroeconomic factors on our financial condition and our results of operations, financial guidance and projections as well as expectations of our future financial condition, results of operations, sales, target growth rates, cash flows, quarterly dividends, corporate strategy, plans, targets, goals, objectives, performance, growth potential, competitive position and business, and statements regarding our ability to: leverage our competitive strengths, including developing and investing in new restaurant concepts and expanding The Cheesecake Factory brand to other retail opportunities; maintain our aggregate sales volumes; deliver comparable sales growth; provide a differentiated experience to customers; outperform the casual dining industry and increase our market share; leverage sales increases and manage flow through; manage cost pressures, including, increasing wage rates and insurance costs, and increas

BUSINESS

ITEM 1. BUSINESS General The Cheesecake Factory Incorporated is a leader in experiential dining. We are culinary forward and relentlessly focused on hospitality. We currently own and operate 334 restaurants throughout the United States and Canada under brands including The Cheesecake Factory (216 locations), North Italia (37 locations), Flower Child (32 locations) and additional brands within our Fox Restaurant Concepts ("FRC") portfolio (41 locations). Internationally, 33 The Cheesecake Factory restaurants operate under licensing agreements. Our bakery division operates two facilities that produce quality cheesecakes and other baked products for our restaurants, international licensees and third-party bakery customers. Our business originated in 1972 when Oscar and Evelyn Overton founded a small bakery in the Los Angeles area. In 1978, their son, David Overton, our Chairman of the Board and Chief Executive Officer, led the creation and opening of the first The Cheesecake Factory restaurant in Beverly Hills, California. In 1992, the Company was incorporated in Delaware as The Cheesecake Factory Incorporated (referred to herein as the "Company" or as "we," "us" and "our"). Our executive offices are located at 26901 Malibu Hills Road, Calabasas Hills, California 91301, and our telephone number is (818) 871-3000. We maintain a general website at www.thecheesecakefactory.com, as well as websites for our bakery and other subsidiaries, including www.northitalia.com , www.iamaflowerchild.com and www.foxrc.com. Our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, all amendments to those reports and our proxy statements are available on our general website at no charge, as soon as reasonably practicable after these materials are filed with or furnished to the SEC. Our filings are also available on the SEC's website at www.sec.gov . The content of our websites is not incorporated by reference into this Form 10-K. We utilize a 52/