Cheesecake Factory ( CAKE) 52-Week High Reached Tuesday: $34 Cheesecake's latest earnings report on Oct. 21 was better than expected as management cited "increasing momentum." Cheesecake also raised full-year guidance, driving the shares higher by 15%.
Cheesecake grew revenue by 3.4% in the first nine months of 2010 . Fourth-quarter sales are expected to grow 4.3% year-over-year. Like other mid-level restaurant concepts, Cheesecake caters to a broader base of consumers, and focuses on customer service, helping to drive its healthy results in 2010. The restaurant chain beat expectations for the recent quarter, primarily driven by comps growth of 2.8%. Earnings increased 35% to $22 million, or 37 cents per share. Revenue grew 4.4% to $418.4 million.