INVESTORS SAVORING EATERIES; CHEESECAKE CHAIN EARNINGS GROWING.Byline: Deborah Adamson Daily News Staff Writer The future is looking sweet for The Cheesecake Factory. While reporting record first-quarter results late Thursday, the Calabasas-based restaurateur res·tau·ra·teur also res·tau·ran·teur n. The manager or owner of a restaurant. [French, from restaurer, to restore; see restaurant. also announced four major initiatives for the chain: a trendy, 24-hour restaurant in a yet-to-be-opened Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. casino casino or cassino (both: kəsē`nō). 1 Card game played with a full deck by two to four players. Its origins are obscure though it probably traces back to the Italian game of Scopa. , a rooftop location in San Francisco's Union Square and a deal with Mrs. Smith's Bakeries to distribute its baked goods in supermarkets and other locations. The Cheesecake Factory also clinched an agreement to supply desserts to a yet-unnamed full-service restaurant chain. ``The trends are very encouraging,'' said Michael Mueller, an analyst at Montgomery Securities in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . Not only are Cheesecake's new avenues promising, but sales growth already is among the strongest in the industry, he said. Mueller expects the stock to hit the mid-$30 range in 12 months. On the first day of trading after reporting its new ventures, Cheesecake closed at $28.125 on Friday, up 6.64 percent, or $1.75 a share. About 644,400 shares exchanged hands, more than quadruple quad·ru·ple adj. 1. Consisting of four parts or members. 2. Four times as much in size, strength, number, or amount. 3. Music Having four beats to the measure. n. its 30-day average. Analyst David L. Rose at Jefferies & Co. upgraded the stock Friday to ``accumulate'' from ``hold.'' The 12-month target price is $29 per share. ``We love all the attention,'' said Howard Gordon, senior vice president of business development and new ventures for Cheesecake. There's plenty to focus on. Cheesecake Factory will open its first location in San Francisco by year-end. It will be a 12,200-square-foot restaurant, larger than its usual eateries, on the rooftop of Macy's in Union Square and will include a 2,700-square-foot patio patio In Spanish and Latin American architecture, a courtyard open to the sky within a building. A Spanish development of the Roman atrium, it is comparable to the Italian cortile but provides more seclusion, possibly due to Moorish custom. The patio of the contemporary U.S. overlooking o·ver·look tr.v. o·ver·looked, o·ver·look·ing, o·ver·looks 1. a. To look over or at from a higher place. b. the San Francisco skyline. Cheesecake is opening its second restaurant in the Atlanta area this year as well. In Las Vegas, it is experimenting with a new concept called the Grand Lux Cafe. To be housed in the soon-to-open Venetian Resort-Hotel-Casino, the 24-hour eatery will be twice as large as a regular Cheesecake Factory. Its extensive menu will feature global cuisines This is a list of various cuisines. Cuisines of the Americas Cuisines of the Americas are based on the cuisines of the countries from which the immigrant peoples came, primarily Europe. . Gordon said Venetian officials also want a second Grand Lux Cafe for the next construction phase of the hotel. In nonrestaurant business, Cheesecake said its deal with Mrs. Smith's Bakeries to distribute its desserts to supermarkets, upscale grocers and other places will dramatically increase the company's business. Cheesecake also won a large order from a major restaurant chain that Gordon declined to identify. Shipments will start this quarter. |
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